The Hindu Business Line : Wednesday, December 17, 2008

MONEY & BANKING

GOVT BONDS: Bond yields fall below 6%; banks to gain
Mumbai, Dec. 16 Banks can look forward to high treasury income in the third quarter of this fiscal on account of falling bond ...

TECHNICAL ANALYSIS: Short-term strength in rupee
Stability in equity markets, weak dollar and unwinding of positions in the non-deliverable forward (NDF) market spurred the rupee above 48 against the dollar. As equities stabilised, foreign institutional investors have turned net buyers in ...

FINANCIAL MARKETS: Rate cuts, liquidity leave credit markets cold
Central banks all over the world are slashing interest rates as never before. America’s interest rate setting body, the Federal Open Market Committee (FOMC), is expected to cut further from an already historic low of 1 per cent before ...

CORPORATE BONDS: Union Bank plans to raise Rs 500 crore via bonds
Signs pact with NSIC for credit support to small, micro units. New Delhi, Dec. 16 Union Bank of India (UBI) plans to raise Rs 500 crore of capital through a mix of perpetual bonds and Tier-II bonds before end March 2009, its Chairman and ...

HOUSING FINANCE: Reviving interest
Public sector banks have put together their own version of a package to bring relief to potential homeowners and the real estate sector through a slew of concessions. Rates for home loans up to Rs 5 lakhs have been reduced to 8.5 per cent and ...

CREDIT RATING: Raters, regulators in the dock
When in the early 1990, occasional media reports of US businesses going down the drain due to mismanagement combined with fraud at the top levels began to appear, the public tended to view them as stray happenings which were more in the nature ...

CREDIT MARKET: RBI asks banks to look into problems faced by SSIs
SLBC convenors asked to organise special meetings, ensure corporates pay off dues on time. Mumbai, Dec 16 In a bid to alleviate the problems faced by micro and small enterprises (MSEs), Reserve Bank of India on Tuesday asked State Level Bankers ...

EVENTS: Bankers urged to take part in growth process
Mangalore, Dec. 16 There is a need for local bankers to participate actively in the growth process in Mangalore region by assisting needy entrepreneurs and exporters and importers, according to Mr B.R. Bhat, General Manager of ...

MERGERS & ACQUISITIONS: RBI nod for IOB takeover of Suvarna Bank of Pune
Pune, Dec. 16 The Reserve Bank of India has given its approval to the Indian Overseas Bank’s (IOB) proposal to take over the assets and liabilities of Shree Suvarna Sahakari Bank Ltd. The Pune-based co-operative bank has been under ...

CORPORATE BONDS: SBI to raise Rs 18,000 cr
Mumbai, Dec. 16 State Bank of India is planning to raise up to Rs 18,000 crore through bonds by December ...

PRIVATE BANKS: TMB branch at Rikab Gunj in Hyderabad
Madurai, Dec. 16 The Tuticorin-based Tamilnad Mercantile Bank opened its 211th branch, fully computerised, at Rikab Gunj-Hyderabad along with its 124th ATM, recently. Speaking on the occasion, Mr G. Narayana Moorthy, Managing Director and CEO ...

CREDIT MARKET: UCO Bank to cut lending, deposit rates
Kolkata, Dec.16 UCO Bank is to reduce its benchmark prime-lending rate by about 100 basis points effective January 1, 2009, according to its Chairman and Managing Director, Mr S.K. Goel. At present the bank’s PLR is 13.75 ...

PUBLIC SECTOR BANKS: SBT launches SMS service
State Bank of Travancore (SBT) has launched an innovative SMS service called ‘SBT Care’ as part of its efforts to improve ...

SHORT TERM INSTRUMENTS: Call rates close higher
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GOVT BONDS: Bond yields fall below 6%
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FOREX: Rupee gains 23 paise
The rupee appreciated by about 23 paise against the dollar due to the weakening of the latter overseas. The domestic currency opened higher at 47.95, on account of the euro appreciating in overseas market. It traded in the narrow range ...