The Hindu Business Line : Saturday, June 03, 2006

PREFERENTIAL ALLOTMENTS
Centurion Bank pref issue to Chrys Cap arm
Centurion Bank of Punjab is making a preferential issue of seven crore shares at Rs 19.25 per share aggregating Rs 134.75 crore to Johann Ltd, a wholly owned subsidiary of Chrys Capital III LLC. The bank has received approval from the RBI for ... More

FOREX
Forex reserves down $370 m on dollar selling
"The RBI was selling dollars at various levels to support the rupee. This dollar outflow is reflected in the decrease in foreign currency reserves." More

Rupee recovers on weak dollar
The upswing in the domestic stock market as well as global weakening of the dollar was reflected in the recovery of the rupee, which gained by around 45 paise against the greenback. The home currency opened higher at 45.26/28, ... More

LIFE INSURANCE
ING Vysya shuffles top management
Private sector life insurer ING Vysya Life Insurance Company Ltd has shuffled its top management and appointed Mr Kshitij Jain as the new Chief Executive Officer and Managing Director. The appointment will make Mr Jain the first ... More

GENERAL INSURANCE
Chubb may go for multiple partners in non-life venture
US co plans to seek `silent partners' after parting ways with HDFC More

PUBLIC SECTOR BANKS
Indian Bank likely to float IPO in 2007
Indian Bank hopes to tap the capital market with an initial public offering (IPO) during the first quarter of calendar 2007, the Chairman and Managing Director of the bank, Dr K.C.Chakrabarty, said here today. "We hope to do an IPO sometime ... More

FINANCIAL INSTITUTIONS
IL&FS looking at equity stake in textile parks
Mandated by Centre as project management consultants for SITPs More

GOVT BONDS
Bonds move up marginally
Bond prices edged up slightly by around 10 paise though sentiment was bearish. Dealers said that rumours of large institutions like LIC buying in the market drove bond prices up. "Hardening of US bond yields, an imminent hike in ... More

SHORT TERM INSTRUMENTS
Call rates unchanged
Call rates remained unchanged between 5.5 and 5.6 per cent. In the first three-day reverse repo auction under LAF, the Reserve Bank of India received and accepted 32 bids amounting to Rs 38,385 crore and in the second three-day ... More

FIXED DEPOSITS
PNB hikes FCNR (B), NRE deposit rates
Punjab National Bank (PNB) has increased/revised interest rates on its foreign currency non-residents (banks) deposit scheme and also on its non-resident external (NRE) scheme with effect from June 1. A release issued by PNB said that interest ... More

HDFC Bank, Union Bank hike FCNR rates
HDFC Bank and Union Bank of India have increased the interest rates on NRE and FCNR deposits with immediate effect. HDFC Bank has increased NRE term deposit rate to 6.43 per cent (6.3 per cent) for one to less than three years. On FCNR dollar ... More

Canara Bank, SBT hike deposit rates
State Bank of Travancore (SBT) and Canara Bank have announced hike in FCNR, NRE term and RFC deposits. The new rates are applicable from June 1 in the case of Canara Bank while it is June 2 for SBT. SBT has raised NRE term deposit rates for ... More

MERGERS & ACQUISITIONS
Syndicate Bank merges RRBs
Syndicate Bank has announced that three of its sponsored regional rural banks (RRBs) were merged to form Andhra Pragathi Grameena Bank headquartered at Kadapa. The three RRBs are Rayalaseema Grameena Bank, Sree Anantha Grameena Bank and ... More

Canara Bank merges 3 RRBs in UP
Canara Bank has amalgamated three regional rural banks sponsored by it in Uttar Pradesh and named it as Shreyas Gramin Bank. A CanBank release said that the merged RRBs were Aligarh Gramin Bank, Etah Gramin Bank and Jamuna Gramin Bank, where ... More

ALLIANCES & JOINT VENTURES
Kotak Mahindra MF, UCO Bank pact
Kotak Mahindra MF has signed an MoU with the Kolkata-based UCO Bank for distribution of its products. The fund house hopes to tap the bank's network, said Mr Sandesh Kirkire, CEO. The tie-up will be across all branches of UCO ... More

EVENTS
`Banking sector stronger than ever before'
IIM prof lists factors that helped growth More

Cross Currency Rates