The Hindu Business Line : Tuesday, November 25, 2008

MONEY & BANKING

FINANCIAL MARKETS: Chidambaram pegs 2008-09 growth rate at 7-8%
In talks with World Bank to double loan assistance to $6 b. New Delhi, Nov. 24 After three years of plus 9 per cent growth in gross domestic product (GDP), India’s growth rate in the current year may moderate to a level between 7 and 8 ...

INSIGHT: Coping with the crisis
Judging from the apathetic response of the markets and economy to the Reserve Bank of India’s latest measures announced last Saturday, two suspicions now stand confirmed. Since September, the Government has erred about the source of ...

HUMAN RESOURCES: RBS sounds out employees on severance
‘A response to slowdown; job losses will be unavoidable’. Mumbai, Nov. 24 Yet another foreign bank, Royal Bank of Scotland (RBS), has sounded out some of its employees in India about the possibility of a severance. This move comes ...

FINANCIAL MARKETS: Citi bailout gives hope to Indian market players
Short-term sentiment positive as step suggests more aid if needed. Kolkata, Nov. 24 Dalal Street market players are hopeful that a proactive and quick bailout plan for Citigroup by the US Treasury, the Federal Reserve and Federal Deposit ...

CREDIT MARKET: Bank of India extends support to SMEs
Bank of India has taken special care of SME (small and medium entrepreneur) customers by extending all necessary help to them during this hour of global financial turmoil, according to Mr M. Narendra, Executive Director of Bank of ...

GOVT BONDS: Bond yields ease on rate cut hopes
Bond yields eased on expectations of a cut in repo and reverse repo rates. The statement by the Finance Minister, Mr P. Chidambaram, that there could be further rate cuts once inflation eases, also helped bond prices rise. The Minister also ...

FOREX: Rupee down marginally
The rupee depreciated marginally against the dollar on Monday, losing 6 paise against the greenback. Compared with the past few days, there was not much movement in the rupee. It moved in the narrow range of 25 paise, said a dealer with a ...

SHORT TERM INSTRUMENTS: Call rates end lower
The inter-bank call rate closed slightly lower at 6.90-7 per cent, as against the previous close of 7-7.10 per cent. In the one-day repo auction under the first liquidity adjustment facility (LAF), there was 1 bid for Rs 2,400 crore. In the ...

FIXED DEPOSITS: NRE, FCNR deposit rates hiked
Dhanalakshmi Bank has raised interest rates on NRE and FCNR deposits with effect from last week. The new rate for NRE deposits are 4.92 per cent for 1-2 year period, 4.41 per cent for 2-3 year period and 4.89 per cent for three years and above. ...

LIFE INSURANCE: Max NY Life investing in expansion
To increase number of offices, employee & agent strength. Kovalam, Nov. 24 Max New York Life Insurance Company (MNYL) is planning to invest Rs 1,818 crore in the country by March 2012, of which Rs 350 crore will be infused by the end of this ...

FIXED DEPOSITS: Yields on certificates of deposits ease on comfortable liquidity
Mumbai, Nov. 24 The yields on certificates of deposits (CDs) issued by banks have eased in the last couple of days due to the comfortable liquidity with banks following the measures taken by the Reserve Bank of ...

ALLIANCES & JOINT VENTURES: State Bank, IAG tie up for general insurance
Mumbai, Nov. 24 State Bank of India has entered into a joint venture with Insurance Australia Group (IAG) to enter the general ...

CREDIT MARKET: ‘Genuine requirements of SMEs being fully met’
Kolkata, Nov. 24 State Bank of India has imposed no curbs on SMEs (small and medium enterprises), either in regard to sanctioning of new loans or extending existing limits, according to Mr J.K. Sinha, Chief General Manager, SBI, Bengal ...