MONEY & BANKING
AUDITING
A limited review of banks' limited reviews
A quick scan of the `limited review' filings by banks in the second half of December predominantly shows that the auditors haven't been able to reconcile to unreconciled items in the books. For instance, "The effect, if any, as consequence of ...
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FOREX
Rupee gains 15 paise
The rupee strengthened by almost 15 paise on strong dollar selling by banks on Wednesday. The rupee opened at 44.40/42 and closed at 44.29/30 against Tuesday's 44.45. "The dollar was also weak against overseas currencies such as ...
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LIFE INSURANCE
Aviva Life ties up with coop bank
The Nizamabad District Co-operative Central Bank Ltd has announced a bancassurance tie-up with Aviva Life Insurance. Under this initiative, the bank will now provide popular insurance products from Aviva to its customers. ...
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RBI & OTHER CENTRAL BANKS
Avoid last minute rush: RBI
The Reserve Bank of India on Wednesday urged the income-tax assessees in Delhi to avoid last minute rush and remit their I-T dues sufficiently in advance of the due date. This advice comes in the wake of the "far too heavy" rush ...
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INTEREST RATES
Interest rates slashed on non-agri co-op loans
Over 4.53 lakh borrowers to benefit
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SBH hikes lending rate
State Bank of Hyderabad (SBH) has decided to increase its benchmark prime lending rate (BPLR) by 50 basis points, from 11.50 per cent to 12 per cent. The hike will be effective from Thursday, December 28. ...
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GOVT BONDS
Bond yields range-bound
Bond yields were range bound with the 10-year benchmark government paper trading between 7.61 per cent and 7.62 per cent, as banks were seen buying government securities to build up their SLR portfolios. But volumes were low on ...
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SHORT TERM INSTRUMENTS
Call rates hit new high of 12.5 pc
Call rates surged to a new high of 12-12.5 per cent (11-11.5 per cent) due to a squeeze in liquidity. In the first one-day repo auction under LAF, the RBI received and accepted 44 bids for Rs 23,455 crore. In the second ...
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TRENDS
Rupee appreciates 1.7 per cent this year
Spurt in imports squared off by rising FII inflows
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