The Hindu Business Line : Saturday, December 23, 2006

AWARDS & HONOURS
Award for Canara Bank
The Kerala Government has adjudged Canara Bank as the best bank for implementation of the PMRY scheme in the State during 2004-05. The award was handed over to Mr P. Mohanan, General Manager, Canara Bank, by the Industries ... More

FOREX
Forex reserves rise by $75 m
Forex reserves have increased by $75 million to $175.519 billion, for the week ended December 15, due to a rise in foreign currency assets. Last week, forex reserves dropped by $45 million to $175.444 billion. Foreign currency assets expressed ... More

Rupee gains marginally
The rupee was range-bound against the dollar on Friday to trade between 44.62 and 44.56. Volumes in the spot market were moderate ahead of the long week-end. The rupee opened at 44.58/60 and closed at 44.56/57 against the ... More

GENERAL INSURANCE
Bank of Maharashtra insurance foray
Bank of Maharashtra has decided to establish a three-way venture for general insurance with Shriram Financial Services Holdings and Sanlam of South Africa. The bank will hold equity stake of 15 per cent. "The bank will approach ... More

ICICI Lombard to tap rural rich
ICICI Lombard General Insurance Company is planning to tap the opportunities in offering insurance cover to assets in rural areas. "Not all the rural population is poor. We are trying to cover the rural rich. We will offer products to cover ... More

GIC move to rein in third party claims
Online connectivity with RTOs, police stations More

RBI & OTHER CENTRAL BANKS
Foreign investments up to 49 pc allowed in stock exchanges
No foreign investor can hold more than 5 pc of equity, says SEBI More

PRIVATE BANKS
Drive to cut NPAs
The Thrissur-based Dhanalakshmi Bank has launched a concerted drive to reduce its NPAs during the current fiscal to below one per cent by March, according to Mr V.S.R. Murthy, Executive Director. Mr Murthy, on a visit to deliver ... More

Correction
With reference to the news report on HDFC Bank hiking prime lending rates, published on December 22, the revised rate should read 13 per cent and not as reported. The error is regretted. ... More

HDFC Bank opens 2 branches in Kerala
HDFC Bank opened its 25th branch in Kerala at Kalamassery, taking its national branch network to 569. The bank also opened its 568th branch in the country at Technopark in Thiruvananthapuram, a press release issued here has said. ... More

UTI Bank's NRI fest in Mangalore
The Mangalore branch of UTI Bank is observing `NRI Fest' till January 20. Addressing presspersons here on Friday, Mr Gregory Fernandes, Assistant Vice-President, UTI Bank, Mangalore, said the branch is organising the festival to ... More

TMB opens 4th branch in Tuticorin
Tuticorin-based Tamilnad Mercantile Bank (TMB) has recently opened its 174th branch and the fourth one in Tuticorin. The branch was declared open by the District Collector, Mr R. Palaniyandi. The Managing Director and Chief ... More

PUBLIC SECTOR BANKS
Syndicate Bank to get $100-m credit line from Wachovia
To use funds for expanding London branch More

CREDIT MARKET
Gross bank credit up Rs 25,768 cr
Gross bank credit has gone up by Rs 25,768 crore to Rs 17,09,498 crore as of December 8, according to the RBI's Weekly Statistical Supplement. Food credit increased by Rs 1,686 crore to Rs 40,366 crore and non-food credit was up ... More

Kerala: MLAs urge bankers to improve credit delivery
Must create facilities for farm produce marketing More

SHORT TERM INSTRUMENTS
Call rates spurt on tight liquidity
Deposit rates set to rise further More

T-bills auction announcement
The Reserve Bank of India has announced an auction of 91-day Treasury bills and 182-day T-bills for December 27, 2006, using multiple price auctions. The notified amount for the 91-day T-bills would be Rs 2,000 crore, of which Rs ... More

FIXED DEPOSITS
PNB hikes fixed deposit rates
Punjab National Bank on Friday announced an increase in interest rates on fixed deposits by 25 to 75 basis points under different time slabs with effect from December 26. The bank has this time round gone in for an extensive ... More

MERGERS & ACQUISITIONS
Shamrao Vithal to buy Bangalore-based co-op bank
Deal likely to be finalised next month More