The Hindu Business Line : Friday, September 22, 2006

FOREX
Rupee strengthens against dollar
The rupee further strengthened by around 10 paise against the dollar on Thursday, on the back of strong FII inflows. The domestic currency opened at 45.92 and touched an intra-day high of 45.8250. It finally closed at 45.86/87, ... More

SOFTWARE
UTI Bank opts for Pyxis software
Pyxis Systems, provider of technology solutions to the global financial derivatives industry, announced that UTI Bank has selected its RisKompass software as the software solution for financial derivatives risk management. ... More

HOUSING FINANCE
Dewan Housing gaining ground on expansion plans
Company has proposal to issue NCDs for Rs 500 crore More

LIFE INSURANCE
Bajaj Allianz Life chalks out expansion strategy
Sees big opportunity in pension market More

UBI, Tata AIG launch scheme for education loan borrowers
United Bank of India and Tata AIG Life Insurance Co Ltd have announced the launch of `United Shiksha Suraksha Scheme", a group insurance plan for the education-loan borrowers of the bank. The scheme, to be available at all branches of UBI, will ... More

RBI & OTHER CENTRAL BANKS
RBI sticks to inflation, growth estimates
Expects Centre's fiscal deficit to be within target More

RBI fiat to banks on reserve fund
The Reserve Bank of India has directed banks to ensure that any drawing down from their statutory reserve fund should be done with its prior approval. A notification from the RBI explains that banks could earlier inform the RBI ... More

PUBLIC SECTOR BANKS
Cabinet gives ex-post facto nod for change in banking Bill
The Union Cabinet, on Thursday, gave its ex-post facto approval for modifying the Banking Companies Bill 2005 to allow the Reserve Bank of India to recommend a person, other than an officer of the central bank, for appointment as a director in ... More

FINANCIAL INSTITUTIONS
NTPC signs $300-m loan deal with ADB
NTPC Ltd signed a loan agreement for $300 million with the Asian Development Bank on Thursday to part-finance two of its power projects. Banc of America Securities Asia Ltd, a subsidiary of Bank of America, has underwritten $225 million of the ... More

GOVT BONDS
Bond prices fall 40 paise
After gaining for three consecutive days, the bond market saw a sell off following statements by the US Federal Reserve and the RBI Governor, Dr Y. V. Reddy, which gave an indication of hardening interest rates. Bond prices fell ... More

CREDIT MARKET
JBIC signs pact with SBI
Japan Bank for International Cooperation (JBIC) have signed an agreement with State Bank of India for setting up a credit line of up to Rs 325 crore. As per the agreement, the credit line to SBI would be used to finance Indian ... More

SHORT TERM INSTRUMENTS
Call rates firmer, liquidity improves
Call rates were firmer at 6.30-6.40 per cent (6.60-6.80 per cent). Liquidity also improved to Rs 13,415 crore from Rs 8,625 crore on Wednesday. In the first one-day reverse repo auction under LAF, the Reserve Bank of India ... More

MERGERS & ACQUISITIONS
IDBI board approves UWB merger proposal
The board of IDBI Ltd at its meeting held on Thursday considered the provisions of the draft scheme of amalgamation of the United Western Bank of India (UWB) with IDBI Ltd, said Mr V.P. Shetty, Chairman and Managing Director. Sources in IDBI, ... More

LKB merger: Kerala TU plans strike
Announcing their support for the workers of Lord Krishna Bank who have been agitating against the merger of the bank with Centurion Bank of Punjab, the Kerala unit of the United Forum of Bank Unions (UFBU) has called for a ... More

EVENTS
Accreditation for protesters?
Journalists back from the World Bank-IMF meeting in Singapore last week brought along some interesting tales. While Singapore initially cracked down on likely protesters — who have tailed these organisations across the world whenever they ... More

OUTLOOK
Vijaya Bank looking at biz alliance options
Bank chief does not rule out such a move More