The Hindu Business Line : Tuesday, March 07, 2006

Citigroup sees more retail funds into MFs
The valuation of the Indian equity market is high and it is largely driven by momentum, said Mr Markus Rosgen, Managing Director, Equity Strategy, Citigroup. "Investors clearly want a combination of valuation and momentum while investing," he ... More

FOREX

Rupee gains marginally
The rupee marginally gained on Monday against the greenback on the back of heavy dollar inflows. The domestic currency opened at 44.34 and touched an intra-day high of 44.29. It, however, closed the ... More

LIFE INSURANCE

IDBI to tie up with Fortis for insurance arm
IDBI Ltd will tie up with the Netherlands-based Fortis Insurance International NV (Fortis) for its life insurance subsidiary, the bank informed the Bombay Stock Exchange on Monday. A memorandum of understanding would be signed on Tuesday, ... More

Bajaj Allianz plans 1,000 offices
Bajaj Allianz Life Insurance Company is planning to increase the number of its offices to a thousand from the present 550 and double its business volume of Rs 3,000 crore by next year. At a press meet here on Monday, Mr Sam Ghosh, Country ... More

GENERAL INSURANCE

Private insurers cut 2-wheeler exposure
Flood imapct on claims heavy; losses unsustainable More

PRIVATE BANKS

Mascon Global plans pref issue to ICICI Bank
Mascon Global Ltd will issue 234 lakh equity shares on preferential basis at a price of Rs 15.35 per equity share (including premium of Rs 5.35) to ICICI Bank (162 lakh shares) and Sungroup Enterprises (71 lakh shares). It will also issue ... More

ICICI Bank raises auto loan rate by 100 bps
Deposit rates hiked by 50 bps across all maturities More

GOVT BONDS

Bearish sentiment in bonds
The bearish sentiment continued in the bond market. The traded volume was low and prices fell by around 10 paise. Dealers said that the uncertainty about the Rs 15,000-crore auction has affected the ... More

SHORT TERM INSTRUMENTS

Call rates tad higher
The call rate closed on Monday at 6.75-6.80 per cent, a tad higher than the previous level of 6.40/50 per cent. In the first one-day auction, the RBI did not receive any bids in the reverse repo. It ... More

EVENTS

Awareness drive
THE RBI Chief General Manager, Ms Deepali Joshi, addressing bankers and customers at a meeting in Warangal on Monday.

CO-OPERATIVES

UCBs, RRBs can disburse forex
Urban co-operative banks, regional rural banks and select full fledged money changers would now be allowed to release or remit foreign exchange for a wide range of non-trade related current account ... More

Co-op banks want tax-exempt status to continue
Urge Pawar to take up issue with Finance Minister More