The Hindu Business Line : Tuesday, April 07, 2009

MONEY & BANKING

FINANCIAL POLICY: ‘Monetisation of deficit not on RBI’s agenda for now’
Mumbai, April 6 Monetisation of the fiscal deficit is not high on RBI’s agenda. The central bank will have to taken into account the long-term and the short-term consequences of monetisation, according to Dr D. Subbarao, Governor, ...

FOREX: Re gains against dollar, closes at 50.05
Mumbai, April 6 The rupee continued its rally against the dollar on Monday, moving below the 50-level mark intra-day, for the first time in more than ...

INVESTMENTS: Decline in new premiums of life insurance cos
Drop in sale of ULIPs, LIC numbers contribute to fall. Chennai, April 6 For the first time since the life insurance industry opened to private players, the Annualised Premium Earnings (APE) for players has seen a decline. For April-February ...

DERIVATIVES MARKETS: Hammer down on glib sales pitches for ‘wonder’ fx derivatives
BANKS BEWARE. Mumbai, April 6 Smooth-talking treasury sales teams of banks, especially the supposedly savvy private and foreign ones that regularly make slick presentations to exporters on the ‘benefits’ of foreign exchange (fx) ...

DEBT MARKET: Bonds fall in range-bound market
The movement in the bond market was range-bound and prices fell following the announcement of the auction of Government securities worth Rs 12,000 crore. There was some buying when the yields touched levels of 7.10 per cent, said a bond dealer ...

CONSUMER FINANCE: Corp Bank in pact with M&M
Corporation Bank has signed two MoUs with Mahindra & Mahindra (M&M) Ltd and its joint venture company, Mahindra Navistar Automotives Ltd (MNAL), for vehicle finance. A bank release said here on Monday that according to the ...

SHORT TERM INSTRUMENTS: Call rate ends higher
The inter-bank call rate ended marginally higher at 3.50-3.60 per cent, against the previous close of 3.25-3.5 per cent. Banks parked more than Rs 1,20,000 crore with the RBI in the reverse repo window. In the first liquidity adjustment ...

PRIVATE BANKS: Karur Vysya crosses biz target
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TRADE & LABOUR UNIONS: SBI officers’ union defers strike
Mumbai, April 6 The All India State Bank Officers’ Federation, to which nearly 60,000-odd officers owe their allegiance, has decided to defer its proposed two-day strike scheduled for April 8 and 9, after arriving at an ...

HUMAN RESOURCES: Andhra Bank to hire over 1,000
Hyderabad, April 6Andhra Bank will recruit over 1,000 personnel in supervisory and clerical ...

PUBLIC SECTOR BANKS: BoB to open 32 branches in South in 2009
Madurai, April 6 Bank of Baroda plans to expand in the South by the end of the ...

CREDIT MARKET: Wockhardt gets breather from ICICI Bank
Mumbai, April 6 Debt-saddled Wockhardt Ltd is said to have got another breather, a loan of about Rs 70 crore, from ICICI ...

NON-PERFORMING ASSETS: IBA takes up ‘floating provisions’ issue with RBI
Chennai, April 6 The Indian Banks’ Association has taken up the issue of the recent circular of the Reserve Bank of India regarding the treatment of ‘floating provisions’ with ...

INTERVIEW: ‘Things we accepted in the past, we challenge now’
Mumbai, April 6 A request over e-mail for an appointment gets a prompt response — time and date specified. Later, his office calls to ask if the meeting can be advanced by half an hour and then mails a detailed map of the new address. ...