Business Daily from THE HINDU group of publications
Tuesday, February 03, 2009
ePaper | Mobile/PDA Version | Audio | Blogs
Business Daily from THE HINDU group of publications Tuesday, February 03, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
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MONEY & BANKING INTEREST RATES: Govt to ensure faster credit flow: Pranab Mukherjee More banks expected to cut lending, deposit rates. New Delhi, Feb. 2 The Union Cabinet Minister, Mr Pranab Mukherjee, who currently holds the Finance portfolio, on Monday said that the Government would strive to ensure smooth flow of credit to ... PUBLIC SECTOR BANKS: Govt seeks higher dividends from PSBs, insurers Payouts this fiscal estimated at Rs 18,445 crore. Bangalore, Feb. 2 Faced with a prospect of a breach in fiscal targets and revenue shortfalls, the Government has asked banks and financial institutions to pay ... GOVT BONDS: Bond prices fall on G-Secs sale Bond prices fell on Monday, after market participants sold G-secs in anticipation that the Government will step up borrowings. The new 10-year paper, 6.05 per cent-2019 paper, opened at Rs 101.25 (5.88 per cent YTM) and touched an intra-day high ... FOREX: Rupee ends lower The rupee was weak due to weak sentiments in the stock market, but dollar selling by exporters helped stem the rupee’s fall. The currency opened at 49.02 and closed at 48.92, slightly lower from Friday’s close of 48.87. According to ... SHORT TERM INSTRUMENTS: Call rate marginally higher The inter-bank call rate closed marginally higher at 4.15-4.25 per cent, against the previous close of 4.00-4.15 per cent. In the one-day repo auction under the first liquidity adjustment facility (LAF), there was no bids. In the reverse ... REGULATORY BODIES & RULINGS: IRDA to make more disclosures mandatory Chennai, Feb. 2 To improve corporate governance of insurance companies, the Insurance Regulatory and Development Authority (IRDA) expects to make it mandatory for insurance companies to make more disclosures to its ... PRIVATE BANKS: South Indian Bank lures school-goers with ‘SIB Junior’ Coimbatore, Feb. 2 South Indian Bank’s financial inclusion strategy is targeted at ‘catching ... ALLIANCES & JOINT VENTURES: Future Generali ties up with Manappuram General Finance Kochi, Feb. 2 Future Generali, the insurance joint venture between the Future Group and Generali of Italy, has tied up with the Kerala-based Manappuram General Finance and Leasing Ltd to provide insurance cover for the latter’s gold ... FINANCIAL INSTITUTIONS: Nabard cuts rates on refinance The National Bank for Agriculture and Rural Development has reduced the interest rates on refinance for investment credit by 25 -75 basis points for lending rates made by various rural financial institutions. The revised interest rates, with ... INTEREST RATES: SBM cuts lending rate by 50 bps The State Bank of Mysore (SBM) brought down its benchmark prime lending rate (BPLR) by 50 basis points to 13 per cent. A bank release said here today that the reduction took effect from February 1. The reduction notwithstanding, SBM still has ... Comments & Letters to the Editor to: bleditor@thehindu.co.in Subscribe to: Business Line |
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