The Hindu Business Line : Tuesday, September 20, 2005

Rupee weak; securities dull
MUMBAI: The forex and money markets opened the week on a relatively dull note. The rupee pared its losses, thanks to a rising equity market. Bond prices took recourse in the fact that government borrowing is in line with expectations, ... More

LIFE INSURANCE

TMB to distribute Pru-ICICI products
TAMILNAD Mercantile Bank has entered into an agreement with Prudential ICICI Asset Management Company for distribution of the entire range of Pru-ICICI Mutual Fund products. Initially, the bank plans to distribute the products at 75 of its ... More

GENERAL INSURANCE

IRDA working out schedule for de-tariffing motor, fire cover
The IRDA Chairman indicated that insurance companies would be given greater flexibility in terms of their investment decisions. More

Iran gas pipeline project — Uncertainty over global reinsurers taking up risk cover
None of the domestic insurers currently have the requisite capacities for covering the risks of scale, as measured by the probable maximum loss ratio. More

PRIVATE BANKS

Federal Bank to pay 25 pc dividend
Addressing the 74th annual general meeting, Mr V. Venugopalan, Chairman, said Federal Bank aimed to balance the objectives of rewarding shareholders with cash dividends, while retaining capital to support future growth plans. The capital base ... More

PUBLIC SECTOR BANKS

BoB extends business hours in Kerala
THIRUVANANTHAPURAM: Bank of Baroda (BoB) has launched 8 a.m. to 8 p.m. banking at five branches in the State from Monday onwards. Mr J. Ganesh Kumar, Deputy Regional Manager, Thiruvananthapuram Region, said these branches are at ... More

Indian Bank opens one more branch in Delhi
NEW DELHI: Indian Bank has opened its 26th branch in the Capital by adding a branch at Dwarka. The branch was inaugurated by the bank's Chairman and Managing Director, Dr K.C. Chakrabarty. Indian Bank also inaugurated two new ATMs in ... More

FINANCIAL INSTITUTIONS

Exim Bank raises $160 m through 364-day loan
EXPORT-Import Bank of India has raised $160 million through a club deal at a margin of 15 basis points over Libor. It offered an all-in-yield of 21 basis points over Libor for on-lending towards export credit. A press release from the bank ... More

GOVT BONDS

Ministry releases quarterly schedule for MSS bonds
THE Finance Ministry on Monday released a quarterly indicative schedule for issuance of treasury bills/dated securities under Market Stabilisation Scheme (MSS) covering the period from October 1 to December 31, 2005. The indicative schedule ... More

CREDIT CARDS & DEBIT CARDS

Bharti, ICICI Bank, Visa launch `mobile wallet'
BHARTI Tele-Ventures on Monday announced a tie-up with ICICI Bank and Visa to launch credit card on the mobile phone. The new service - mChq - will allow Airtel subscribers in Delhi and Mumbai to purchase goods for as low as Rs 50. Once ... More

Bobcards plans to add more clients, centres this fiscal
BOBCARDS Ltd, the wholly owned subsidiary of Bank of Baroda, is planning to add more customers and widen its merchant establishment base. Bobcards has set a target of 10 additional centres all over the country by the end of this fiscal, said ... More