Business Daily from THE HINDU group of publications
Friday, May 15, 2009
ePaper | Mobile/PDA Version | Audio | Blogs
Business Daily from THE HINDU group of publications Friday, May 15, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
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MONEY & BANKING RBI & OTHER CENTRAL BANKS: RBI to withdraw special market operations Slowdown in credit off-take due to muted demand from cos: Subbarao. Bangalore, May 14 The Reserve Bank of India has indicated that the special market operations (SMO) for supporting the petroleum refining sector would be discontinued, though no ... CREDIT MARKET: Create confidence by fiat? Can the confidence to borrow and lend be created by fiat? If yes, central banks across the world now would want to know how and, more importantly, may even put that knowledge into practice in quick time. For, it is that spark or animal spirit ... RBI & OTHER CENTRAL BANKS: Smart cards under financial inclusion by August: RBI ‘Credit restructuring of SME sector under consideration’. Bangalore, May 14 Reserve Bank of India has said that the electronic benefits scheme under financial inclusion would be completed in the State by August this ... FOREX: Re falls by 10 p against dollar The rupee fell by about 10 paise against the dollar, although it recovered some of its intra-day losses. The rupee opened lower because of weak Asian currencies. A heightened risk aversion among investors led to the dollar strengthening across ... SHORT TERM INSTRUMENTS: Call rate steady The inter-bank call rate ended at 3.20-3.30 per cent, against the previous close of 3.20-3.25 per cent. Under the liquidity adjustment facility (LAF), there were no bids in the repo auction. In the reverse repo auction, the Reserve Bank of ... GOVT BONDS: Bond prices steady Bond prices were steady on Thursday with the exception of the benchmark security whose price fell by 40 paise. Market participants were selling the 10-year paper fearing that the government will issue a new 10-year paper just as it issued a ... HOUSING FINANCE: Deutsche Postbank (India) cuts RBLR Deutsche Postbank Home Finance Ltd (DPHFL) has announced a 50 basis point reduction in its retail basic lending rate (RBLR). All existing floating rate customers will benefit from this move, according to a company release. This is the second ... LIFE INSURANCE: Bajaj Allianz’s new plan Bajaj Allianz Life Insurance has launched a unit-linked plan called ‘UnitGain Protection Plus’, a press release issued by the company said. The product offers an additional sum assured in case of accidental death of the life ... FINANCIAL PERFORMANCE: Bank of Maharashtra net rises 14% on income growth Pune, May 14 Bank of Maharashtra (BoM) is on the lookout for inorganic growth through acquisitions and also has plans to set up an overseas branch in collaboration with an Indian partner to facilitate ... FINANCIAL INSTITUTIONS: IFC extends finance to Apollo Hospitals, Max India Healthcare cos’ expansion projects. Chennai, May 14 The International Finance Corporation, the private financing arm of the World Bank, is extending finance to two healthcare companies — Apollo Hospitals Enterprise Ltd and Max India ... INTEREST RATES: HDFC chief sees interest rates falling further Hyderabad, May 14 The HDFC Chairman, Mr Deepak Parekh, on Thursday hinted at both deposit rates and lending rates coming down further, taking a cue from the SBI’s initiative to slash deposit rates ... GOVT BONDS: RBI issues draft guidelines on STRIPS trading Mumbai, May 14 In a bid to attract banks to trade in Separate Trading of Registered Interest and Principal of Securities (STRIPS), the Reserve Bank of India, in its draft guidelines on stripping/reconstitution of government securities, said ... GENERAL INSURANCE: Low penetration in non-life insurance sector: Chaturvedi New Delhi, May 14 The Government on Thursday said that penetration in the non-life insurance sector was low despite the market opening up and various bancassurance tie-ups in ... CREDIT MARKET: IOC signs term loan pact for Paradip project New Delhi, May 14 Indian Oil Corporation Ltd has signed a rupee term loan agreement for Rs 14,900 crore with a consortium of 21 lenders led by State Bank of India for its grassroot refinery project at ...
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