The Hindu Business Line : Saturday, July 01, 2006

Rupee rises to 46.05
The rupee rose to 46.05, tracking the global currencies' movement against the dollar, following the 25 basis point hike in interest rate at the Federal Open Market Committee (FOMC) meet on Friday. The domestic currency opened at ... More

Current account surplus of $1.8 b in Q4
Software exports up 40.7 pc & private transfers 16.9 pc More

Forex reserves fall by over $1 b
The foreign exchange reserves have fallen by over $1 billion for the week ended June 23, due to a decline in the foreign currency assets. In the previous week, reserves had increased marginally. According to the Reserve Bank of India's Weekly ... More

External debt up $ 2b
The stock of external debt went up by $2 billion during 2005-06 to reach $125.2 billion, according to statistics put out by the Reserve Bank of India on Friday. As much as 45.1 per cent of the debt is in US dollars, while another 19.9 per cent ... More

SOFTWARE
United Bank partners HP, Infosys in IT initiative
Rs 200 cr investment on tech upgradation More

NBFCS
Shriram Transport kicks off media blitz
To hold fun-filled events in various cities More

PRIVATE BANKS
Anil Ambani Group online trading kiosks at South Indian Bank branches
The Reliance-Anil Dhirubhai Ambani Group (R-ADAG) company, R Trade will be setting up stock trading kiosks at the branches of South Indian Bank (SIB) spread across the country, to facilitate on-line equity trading for customers of both the ... More

PUBLIC SECTOR BANKS
SBI e-ticketing facility
State Bank of India has tied up with Kingfisher Airlines to offer e-ticketing facility through the group's 5,579 ATMs, covering 1907 centres. SBI cardholders can book tickets of Kingfisher Airlines in Bangalore, Delhi and Mumbai. ... More

Corpn Bank to run another exchange co in W. Asia
To foray into credit card biz More

Union Bank plans more branches in Vizag region
Union Bank of India is opening six more branches in the Visakhapatnam region before the end of September, according to Mr S. Aftab, Assistant General Manager. At a press meet here on Friday, he said the new branches would be set up at Gajuwaka, ... More

INTEREST RATES
Metals rise as Fed signals end to interest rate hike
Analysts expect market to remain bullish in short-term More

GOVT BONDS
Bond market bearish
Although the 25 basis points rate hike by the US Federal Reserve did not impact the domestic market, the outlook remained bearish, said dealers. As the rate hike was already factored in, trade volumes were higher. However, bond ... More

CREDIT MARKET
Credit payout data
Banks in Thiruvananthapuram district have disbursed Rs 2,648.76 crore under priority credit during fiscal 2005-06 against a target of Rs 1,775.17 crore. This was revealed at the District Consultative Committee for Banking ... More

SHORT TERM INSTRUMENTS
Call rates unchanged
Call rates were in range between 5.75 and 5.85 per cent, the same as on Thursday. In the first three-day reverse repo auction under LAF, the RBI received and accepted 18 bids amounting to Rs 17,805 crore and in the second ... More

FIXED DEPOSITS
Union Bank unveils new product
Union Bank of India (UBI) has announced the launch of a deposit product `Union Double - Jama Karo Dugna Pao.'The new scheme would be operational from July 1-31. It offers depositors an opportunity to double their investments in eight year and ... More

BoB deposit mobilisation drive
Bank of Baroda has decided to launch a two-month special campaign for mobilisation of savings bank deposits from July 1 to August 31. The bank offers a slew of benefits and incentives to those who open accounts during the ... More

MERGERS & ACQUISITIONS
Thomas Cook, LKP Forex to merge in no-cash deal
The merged entity will not have any LKP name tag More

OUTLOOK
`Indian banks may face greater competition'
Increased financial integration may bring with it greater risks More

Banks may tie up with telecom, logistics cos
Banks will provide all forms of money, says Sambamurthy More

PEOPLE
O.P. Bhatt appointed SBI Chairman
Mr O.P. Bhatt, Managing Director, State Bank of India, has been appointed Chairman of the bank. The five-year term of Mr Bhatt will expire in March 2011. His will be the longest tenure as SBI chairman in the recent past. Mr Bhatt took charge ... More