The Hindu Business Line : Thursday, June 08, 2006

INSIGHT
On committees and convertibility
Fortunately for India, very rarely do experts' views go unnoticed. Yet, not all the apparently sound diverse viewpoints get reflected in the final decisions. This is ironical since most bodies in both the public and private sectors strongly vouch f or transparency, says A. VASUDEVAN. More

No-frills bank accounts: Financial inclusion is good economics
Financial inclusion means extending the banking habit among the less privileged in urban and rural India. But the path of financial inclusion is daunting. More

FOREX
Rupee weakens further
The rupee was weak against the dollar for the second day in a row as the stock market continued with its downward slide. However, there was two-way movement in the spot market as both exporters and importers were seen in the ... More

INFORMATION TECHNOLOGY
ECS facility at Haldia
United Bank of India has launched the first ECS facility in a non-MICR clearing area, according to a press release issued by the bank. Mr P.K. Gupta, Chairman and Managing Director of the bank, inaugurated the facility on ... More

FINANCIAL PERFORMANCE
LIC Housing Q4 net doubles
To target high net worth individuals, in Tier II cities More

LIFE INSURANCE
Jeevan Akshay-III eligible for Sec 80C benefits
The Centre has now said that investments made in Jeevan Akshay-III Plan, which is an annuity plan of Life Insurance Corporation of India, would be entitled for benefits under Section 80C of the income-tax law. Under Section 80C, an individual ... More

Bajaj Allianz plans to raise equity capital
No large-scale migration from growth funds on weak stock market More

CREDIT RATING
Oriental Insurance rated B++
A.M. Best has rated Oriental Insurance Company B++ (Very good) based on a recent review undertaken by them. A.M. Best is a European agency rating for insurance companies globally. In its rating rationale, A.M. Best has cited ... More

FINANCIAL MARKETS
Stanchart sees rupee at 44/dollar by year-end
`Global economy slowing down' More

PRIVATE BANKS
UTI Bank to focus more on non-metros
Targets personal investment products More

PUBLIC SECTOR BANKS
Dena Bank bets on NPA recovery, credit watch
Strong marketing teams for SMEs, retail to be built More

GOVT BONDS
Bond prices fall 10 paise
In the bond market, prices fell by 10 paise as there was no buying interest. Dealers said that the US Fed Reserve Chairman, Mr Ben Bernanke's stance at the Federal Open Market Committee meeting indicated a likely 25 basis point ... More

SHORT TERM INSTRUMENTS
T-bills auction fully subscribed
The auctions of the 364-day Treasury-bill and the 91 Treasury-bills were fully subscribed, said the Reserve Bank of India in a press release on Wednesday. The notified amount for both T-bills was Rs 2,000 crore. For the 364-day T-bill, the ... More

Call rates remain unchanged
Call rates remained unchanged between 5.5 per cent and 5.6 per cent. In the first one-day reverse repo auction under LAF, Reserve Bank of India received and accepted 31 bids amounting to Rs 31,670 crore and in the second one-day ... More

FIXED DEPOSITS
Long-term deposit scheme from BoI
Bank of India has launched a long-term deposit that offers eight per cent for deposits above eight years and up to 10 years. Senior citizens would be offered a rate of interest of nine per cent for deposits up to 10 years, said a ... More

Cross Currency Rates