The Hindu Business Line : Friday, November 13, 2009

MONEY & BANKING

INSIGHT: Dollar as common currency
In the article ‘Common currency: Pitfalls and prospects’ (Business Line, October 26), an attempt was made to establish how a global common currency on the lines of the IMF’s SDRs (Special Drawing Rights) is ...

GENERAL INSURANCE: Renewal premiums stay low for directors’ liability cover
Global reinsurers desist from raising rates for Indian IT cos despite Satyam scam. Mumbai, Nov. 12 The Satyam fiasco appears to have no impact on premium rates for ‘Director and Officers Liability’ insurance cover ...

RBI & OTHER CENTRAL BANKS: NEFT system to be 24X7: RBI
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GOVT BONDS: Bonds down on auction pressure
Bond prices fell marginally by 10 paise ahead of the auction on Friday. There was an auction pressure on the prices. The good IIP numbers were also a dampener for the market, said a dealer with a private bank. The total traded volumes on the ...

SHORT TERM INSTRUMENTS: Call rate ends higher
The inter-bank call rate ended higher at 3.3-3.4 per cent, against the previous close of 3.25-3.3 per cent. Under the liquidity adjustment facility conducted by the Reserve Bank of India, there were no bids in the one-day repo auction. In ...

FINANCIAL SERVICES: YES Bank is clearing bank for BSE
YES Bank has been empanelled as the clearing and settlement bank by the Bombay Stock Exchange (BSE). This will enable the bank to further strengthen its capital markets business proposition to the members of BSE, a press release by the ...

FOREIGN BANKS: India may become No 1 market for StanChart, says CEO
‘Regulatory requirements for IDR listing nearly completed’. Mumbai, Nov. 12 For Standard Chartered Bank the proposed listing in India through an issue of Indian Depository Receipts (IDRs) is not merely a capital raising exercise. The ...

PUBLIC SECTOR BANKS: Union Bank to tighten customer verification procedures
Fallout of probe into Madhu Koda scam. Mumbai, Nov. 12 Union Bank of India plans to revisit its customer verification procedures as well as the norms for triggering alerts in case of high-value transactions. This follows the Enforcement ...

DERIVATIVES MARKETS: More forex derivative products allowed
Mumbai, Nov. 12 The Reserve Bank of India on Thursday issued guidelines for Over the Counter foreign exchange derivatives which will help resident individuals, NRIs, FIIs and persons having direct foreign investment in India manage their ...

MERGERS & ACQUISITIONS: State Bank of Indore merger with SBI by March
Ahmedabad, Nov. 12 State Bank of India is likely to conclude the merger of its associate bank State Bank of Indore (SBIN) with itself by ...

PRIVATE BANKS: Axis Bank opens branch in Mahbubnagar
Hyderabad, Nov. 12 Axis Bank opened its branch in Mahbubnagar on Thursday. Mr C.P. Rangarajan, President and Zonal Head (South), formally inaugurated the ...