The Hindu Business Line : Wednesday, February 18, 2009

MONEY & BANKING

FOREIGN DIRECT INVESTMENT: Insurance sector excluded from new norms for total foreign investment
New Delhi, Feb. 17 The insurance sector has been kept out of the recent Government guidelines for calculation of total foreign investment in Indian companies. This is because the insurance sector is specifically governed under a statute ...

PENSION PLANS: New pension system: Investment norms for private citizens soon
Board to consider proposal to appoint 6 fund managers. New Delhi, Feb. 17 Investment norms for the new pension system (NPS) that would be thrown open to private citizens (other than Government employees), from April 1 this year, will be ...

INTEREST RATES: Brokerages bet on rate cut
Responsibility of providing stimulus will fall on the RBI: Goldman Sachs. Mumbai, Feb. 17 Brokerages had differing views on the vote-on-account announcements of the Finance Minister on Monday but remained united on expecting more interest rate ...

GOVT BONDS: Bond prices fall by 90 paise
Bond prices fell by 90 paise on Tuesday, as there was uncertainty over the open market operations to be conducted by the Reserve Bank of India. Prices are under pressure as the borrowing programme is going to lead to excess supply in the ...

OVERSEAS INVESTMENTS: Banks put overseas expansion on hold
Global slowdown forcing a rethink, say bankers. Chennai, Feb.17 The global meltdown has made several Indian banks put a hold on their overseas ...

NBFCS: Muthoot targets 2,000 branches by 2012
Kochi, Feb. 17 The Kerala-based Muthoot Group, which concentrates in gold loan business, has set a target of opening 2,000 branches across the country by ...

OVERSEAS INVESTMENTS: BoB plans on course
Chennai, Feb. 17 The global crisis does not seem to have impacted Bank of Baroda’s expansion plan. The bank has a large international presence with 48 branches. The bank has branches in major financial markets such as New York, ...

TRADE & LABOUR UNIONS: Keeping vigil
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FOREX: Rupee breaches 49-mark
Mumbai, Feb. 17 The rupee fell sharply against the dollar on Tuesday, losing around 90 paise after market participants bought dollars to make arbitrage profits in the non-deliverable forward ...

INTEREST RATES: PNB sees interest rates falling further
New Delhi, Feb. 17 Punjab National Bank on Tuesday said that it expects interest rates to fall further in the next few days. It is anticipating the Reserve Bank of India to act, which will allow banks to reduce their ...

SHORT TERM INSTRUMENTS: Call rates steady
Mumbai: The inter-bank call rate closed at 4-4.15 per cent, same as the previous day’s close. In the one-day repo auction under the first liquidity adjustment facility (LAF), there were no bids. In the reverse repo ...

TECHNICAL ANALYSIS: Rupee to test 50-mark
Indian rupee resumed its southward journey against the dollar after a protracted sideways movement spanning almost two months. Concerns regarding increased Government borrowing target and widening current account deficit caused this bout ...