The Hindu Business Line : Thursday, November 05, 2009

MONEY & BANKING

LIFE INSURANCE: New premium likely to see less equity exposure
Insurers to focus on debt schemes to cut ULIP pie. Kolkata, Nov. 4 From next fiscal, some life insurance companies are likely to cut down their stock market investments by 10 to 15 per cent in respect of new ...

FINANCIAL PERFORMANCE: Banks’ profit growth moderates in Sept quarter
Fallout of slowdown in lending, dip in margins and rise in provisions. After growing at a frenetic pace last quarter, banks have struggled to do an encore in the September quarter, as lending slowed, margins fell, and provisions rose. Advances ...

GENERAL INSURANCE: Spate of calamities may compel insurers to hike premiums
Large discounts seen weakening solvency margins. Banglore, Nov. 4 Faced with mounting losses from calamities, domestic insurers are poised to reverse all the large discounts of the last two years and ...

FOREX: Rupee gains 35 paise
The rupee gained by 35 paise against the dollar on Wednesday buoyed by the rally in the domestic equity markets and the dollar’s weakness against other Asian currencies. The domestic currency opened at 47.17 and strengthened to touch ...

FINANCIAL PERFORMANCE: City Union Bank net rises 21.5%
City Union Bank has reported a 21.51 per cent increase in net profit to Rs 45.85 crore for the quarter ended September 2009, against Rs 37.65 crore during the corresponding quarter of the earlier fiscal. Its interest income rose 21.5 per cent to ...

SHORT TERM INSTRUMENTS: Call rate steady
The inter-bank call rate ended at 3.20-3.3 per cent, against the previous close of 3.25-3.3. Under the liquidity adjustment facility conducted by the Reserve Bank of India, there were no bids in the one-day repo auction. In the reverse repo ...

INTEREST RATES: Nabard trims rates on refinance
The National Bank for Agriculture and Rural Development has reduced interest rates on refinance for investment credit for lending made by rural financial institutions by 50 basis points. The revised interest rate is 8 per cent for commercial ...

PUBLIC SECTOR BANKS: Indian Bank opens branches
Indian Bank opened branches at Pumpwell and Bejai-Kapikad in Mangalore on Wednesday. A press release said here that these are 1,676th and 1,677th branches of the bank in the country. Mr A.S. Bhattacharya, Executive Director, and Mr G.N. ...

PUBLIC SECTOR BANKS: State Bank of Hyderabad bags award
State Bank of Hyderabad has bagged ‘State Best Banker’s Award’ for outstanding performance in Micro and Small Enterprises Development 2007-08. Ms Renu Challu, Managing Director, SBH, had received the award from the Andhra ...

NBFCS: Manappuram GFL cuts lending rate
Manappuram General Finance and Leasing Co Ltd has reduced its prime lending rate from 17 per cent to 12 per cent, the company said in a press release. The gold loan company is passing on its lower cost of funds to its ...

CREDIT POLICY: Credit Policy: Keeping vigil on inflation trends
The mid-term Credit Policy meeting of the RBI saw the central bank keep the reverse repo rate and the repo rate unchanged, at 3.25 per cent and 4.75 per cent respectively. The statutory liquidity ratio has been increased from 24 per cent to ...

CREDIT MARKET: Simplified loan forms for micro, small units seeking up to Rs 1 cr
Mumbai, Nov. 4 In a bid to boost credit appetite in the economy, the Reserve Bank of India is considering extending the scope of the simplified, standardised loan application form to encompass credit proposals from MSEs (micro and ...

CREDIT MARKET: ‘Busy season’ off to dull start on credit disbursal
Despite being the beginning of the ‘busy season’, the Reserve Bank of India’s latest statement of position of commercial banks shows that outstanding bank credit in the fortnight ended October 23 was down by Rs 21,750 crore ...

PUBLIC SECTOR BANKS: BoI plans 10 branches in AP
...

FINANCIAL INSTITUTIONS: Survey on non-profit institutions
The State Government is conducting a survey on the accounts and finances of non-profit institutions registered in the Sate. An official release said that the survey was being conducted as part of the study undertaken by the Central ...

FIXED DEPOSITS: Co-ops offer higher interest rate
The State Government has announced a 0.5 basis point hike in interest rates on new fixed deposits with primary cooperative societies and cooperative banks in the State from November 1 to 30, an official release said. It added that the ...

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Markets (Nov 04)

Nifty (at close)	4,710.80 (+146.90)
US Dollar (Buy/Sell)	47.05/06
Brent crude (a bbl) Rs	3,642
Gold (a gram) Rs	1,559
Silver (a kg) Rs	28,435

Cross Currency Rates

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