The Hindu Business Line : Thursday, December 18, 2008

MONEY & BANKING

DERIVATIVES MARKETS: Foreign banks had highest off-balance sheet derivatives exposures in 2007-08
Mumbai, Dec. 17 The off-balance sheet exposures of commercial banks in India jumped by 88 per cent last fiscal, according to the figures released by the Reserve Bank of ...

RBI & OTHER CENTRAL BANKS: RBI wants a rethink on ‘big, complex’ institutions
Trend Report highlights concerns amid global slowdown. Mumbai, Dec 17 In the context of the global economy entering into a phase of downturn on account of the global financial crisis, the Reserve Bank of India (RBI), in its latest Report on ...

MONETARY POLICY: More aggressive monetary policy approach advocated
Not enough has been done, says Virmani. New Delhi, Dec. 17 The Chief Economic Advisor in the Finance Ministry, Dr Arvind Virmani, is of the view that the Reserve Bank of India has not yet done enough to loosen the monetary ...

FOREX: Rupee rises in choppy trade
The rupee appreciated by around 18 paise against the dollar on Wednesday, in a choppy market. The currency opened at 47.35/40 and strengthened to touch an intra-day high of 47.22. It weakened to touch an intra-day low of 47.67/69 before ...

GOVT BONDS: Bond yields fall
Bond yields continued to fall on expectations of further rate cuts, after the US Federal Reserve cut rates. According to a dealer , the market was but range-bound in the first half. Prices rallied towards the close of trade, after a Finance ...

PUBLIC SECTOR BANKS: Allahabad Bank invests in HCC arm
Hindustan Construction Company Ltd (HCC) has informed that Allahabad Bank has invested Rs 50 crore in Lavasa Corporation Ltd (LAVASA), a subsidiary of HCC, in the form of convertible debentures. Based on the above investment, the equity valuation ...

CREDIT MARKET: Credit growth continues to be high: RBI report
Mumbai, Dec. 17 Credit growth continues to be well above the expectations of the central bank, while deposit growth has been lower than last year, according to the latest figures in the Trends and Progress of Banking in ...

PENSION PLANS: Pension, annuity plans may turn cheaper
Hyderabad, Dec. 17 Pension and annuity insurance products are likely to become still cheaper as the Insurance Regulatory and Development Authority (IRDA) has reduced the solvency margins for ‘other than pure ...

CREDIT MARKET: Export credit at lower rates
...

SHORT TERM INSTRUMENTS: Call rates unchanged
...

LIFE INSURANCE: HDFC Standard's new ULIP policy
...

PRIVATE BANKS: IDBI ties up with PayMate
Mumbai, Dec. 17 IDBI Bank has tied up with mobile commerce company PayMate to offer mobile payment facility. The facility would allow the 3.5 million IDBI customers to use their mobile phones to make payments for paying their bills, ...

LIFE INSURANCE: IDBI Fortis Life’s new product
IDBI Fortis Life Insurance Company has launched a new product offering life insurance group cover to micro finance institutions, self-help groups and NGOs. The product, titled ‘Microsurance’, would insure the lives of the group ...

PRIVATE BANKS: TMB opens new branch in Mumbai
Tamilnad Mercantile Bank opened its 212th branch, fully computerised and with safe deposit vault, at Andheri (West), Mumbai along with its 125th ATM, recently. Mr G. Narayana Moorthy, Managing Director and CEO of the bank, said that a total ...