The Hindu Business Line : Thursday, October 30, 2008

MONEY & BANKING

GENERAL INSURANCE: HCL Tech bags National Insurance contract
IT players now aggressively scouting for domestic business. Software exporter HCL Technologies Ltd has pipped larger rivals, TCS and Wipro, to clinch a large CIS (core insurance solution) implementation deal from the public sector National ...

CREDIT MARKET: SBI wants collaterals from airlines seeking credit
Banks shying away from having aviation assets on their books. Bangalore, Oct. 28 State Bank of India has insisted that airline companies provide corporate guarantees as a precondition for ...

RBI & OTHER CENTRAL BANKS: RBI eases off-balance sheet exposure norms
Breather to foreign branches. Mumbai, Oct. 29 The Reserve Bank of India has relaxed the prudential norms for off-balance sheet exposure ...

TECHNICAL ANALYSIS: Short-term rupee negative
The ferocious declines in stock prices yanked the rupee past the 50-threshold briefly, but the central bank intervention has thus far ensured that the rupee does not stay below that mark for long. Meanwhile pandemonium continues in ...

LIFE INSURANCE: LIC to open office in Singapore
Mumbai, Oct. 29 Life Insurance Corporation of India would be opening a representative office in Singapore ...

FOREX: Implications of forex exposure
After a much debate, the method of accounting of forex exposure and derivative contracts has taken a final shape. The apparent inconsistency between Schedule VI of the Companies Act and the accounting standard requirements has also been ...

FOREX: Rupee up on positive sentiments
The rupee appreciated by 18 paise against the dollar on Wednesday, buoyed by the positive sentiments in the global equity indices. The currency opened strong at 49.65/67 but weakened to touch an intra-day low of 49.85. It recovered partially ...

CREDIT MARKET: Credit guarantee scheme for micro, small enterprises
Mumbai, Oct. 29 State Bank of India has signed a memorandum of understanding with the Credit Guarantee Fund for Micro and Small Enterprises (CGTMSE) under which the risk of providing collateral-free credit facilities to micro and ...

SHORT TERM INSTRUMENTS: Call rates climb to 13.5%
Mumbai, Oct. 29 The inter-bank call rates inched upwards on Wednesday, as banks borrowed in the overnight market to meet their funds shortage. Call rates closed substantially higher at 13.5 per cent, as against Monday’s close of ...

FINANCIAL PERFORMANCE: JM Financial net up
Mumbai, Oct. 29 JM Financial has recorded an increase of 3.5 per cent in net profit for the second quarter of the fiscal, but a 53 per cent dip in its consolidated net profit for the ...

FINANCIAL MARKETS: Banks must stick to core competency
Mumbai, Oct. 29 Does the Indian Government stand sufficiently chastened by the ongoing financial crisis that has had its roots in the launch of complex financial derivative products (of which many understand little), rampant leveraging, ...

NBFCS: New window for NBFCs
...

GOVT BONDS: Bond prices rally
Bond prices rallied, with the 10-year benchmark security closing higher by 60 paise. The markets are anticipating another cut in rates by the Reserve Bank of India, with the liquidity conditions tightening and the inter-bank call rate touching ...