MONEY & BANKING
PENSION PLANS
Pension pie: Insurers seek level field with MFs
THE tussle for the Indian pension pie is getting hot, with the life insurance sector finding itself pitted against the mutual fund industry to fill up the limited slots that would be on offer for pension fund manager (PFMs). With several mutual ...
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INSIGHT
RBI's dilemma on sterilising forex inflows
For the purpose of sterilisation of the inflowing funds through Open Market Operations, the RBI has had, till recently, adequate amount of government securities to sell. If the present trend of the inflows continues and the central bank carries on wi th sterilisation, it will run out of stocks of securities in a few months, says A. Seshan.
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FOREX
Rupee down 6 paise; bonds range-bound
MUMBAI: The rupee closed six paise weaker at 45.28 to the dollar on Thursday, due to some amount of corporate demand towards the fag end of the day. On Wednesday, the domestic currency had ended at 45.22. After opening at 45.2350, ...
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NBFCS
SCILL's debt plan gets top Crisil rating
CRISIL has given the newly set up NBFC of the Standard Chartered group, Standard Chartered Investments and Loans (India) Limited's (SCILL) the highest rating of `P1+' for its proposed short-term debt programme of up to Rs 200 crore. "We will ...
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HOUSING FINANCE
`Home loan demand will remain strong'
DEMAND for home loans would continue to be strong even if interest rates firm up in the short to medium term, according to Mr K.M. Mistry, Managing Director of Housing Development Finance Corporation Ltd, the country's largest mortgage ...
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HSBC has appetite for more home loan portfolios
HSBC has built a home loan portfolio of Rs 2,500-3,000 crore over the last 4-5 years when it entered the mortgage market and is open to buying out more portfolios to increase the same. ``We always look for opportunities to buy out portfolios. ...
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GENERAL INSURANCE
IRDA chief for products with rural bias
"DON'T look at the entry into rural areas as an obligation, but as a potential." This is how Mr C.S. Rao, Chairman, Insurance Regulatory Authority, would like the insurance companies to take up as a challenge. He was talking to presspersons on ...
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CREDIT RATING
ICRA assigns highest safety rating to GAIL bonds
ICRA has assigned a `LAAA' rating, indicating the highest safety, to the Rs 1,000-crore non-convertible bonds (NCD) programme of GAIL (India) Ltd. The LAAA rating earlier assigned to the company's Rs 500-crore bonds programme has also been ...
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PRIVATE BANKS
UTI Bank expects 30 pc credit growth
UTI Bank has grown to become active in the `loan syndication' market, arranging loans for companies that want to borrow. Its fee income has also gone up commensurately.
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ECONOMIC OFFENCES
Special teams to track money laundering
THE Reserve Bank of India will soon review the progress made by banks in implementing `Know Your Customer' (KYC) guidelines. The review will be done to keep a tab on money laundering activity. Special teams would do separate scrutiny to assess ...
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PEOPLE
Addl charge for SIDBI chief
Cross Currency Rates
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