The Hindu Business Line : Friday, February 23, 2007

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MONEY & BANKING

ANNOUNCEMENTS
Morgan Stanley, JM Financial part ways
All our options are open on new tie-up, says JM Financial More

AWARDS & HONOURS
Corporation Bank bags IBA award
Corporation Bank has bagged the `IT Team-Runner up Award' for 2006, instituted by Indian Banks' Association (IBA) and Trade Fares Conferences International. A bank release said the award is conferred based on evaluation of ... More

FOREX
Rupee falls against dollar
The rupee fell against the greenback on Thursday on sustained buying of dollars by public sector banks. The currency opened at 44.19/20 and touched an intra-day low of 44.2850. It closed the day at 44.25, against Wednesday's ... More

LIFE INSURANCE
Max India to raise Rs 1,000 cr via QIP
Healthcare arm to raise Rs 400 cr separately thru pref allotment More

HUMAN RESOURCES
Syndicate Bank training institute ties up with CMC
Syndicate Institute of Bank Management (SIBM), Manipal — the training institute of Syndicate Bank — recently entered into a tie-up with CMC Ltd with the aim of making SIBM a centre of excellence of global standards and to provide ... More

PUBLIC SECTOR BANKS
UCO Bank begins moving recap bonds into SLR slot
More funds now to lend amid tightening liquidity: CMD More

GOVT BONDS
Bond prices decline
Bond prices fell by about 27 paise and yields rose by five basis points as dealers felt the increased liquidity in the system may tempt the RBI to raise short-term rates or cash reserve ratio. Total traded volumes in the order ... More

CORPORATE BONDS
Syndicate Bank bond issue sees good demand
Syndicate Bank has received overwhelming support for its upper tier-II bond issue that opened for subscription on February 5. The size of the issue then proposed was Rs 100 crore with a green shoe option of Rs 140 crore. However, the bank said ... More

CREDIT MARKET
More bank support for shipping likely
Various aspects of possible mergers, acquisitions and joint ventures in the domestic shipping and logistics industry and the entire gamut of financing options were discussed at the India Shipping and Logistics Finance Conference here. Setting ... More

SHORT TERM INSTRUMENTS
Call rates marginally lower
Call rates closed at 6.40 - 6.50 per cent on Thursday against the previous close of 6.80 - 7.00 per cent. In the first one-day reverse repo auction, the RBI received and accepted one bid for Rs 25 crore. In the second one-day ... More

ALLIANCES & JOINT VENTURES
UTI Bank, IFC arm join hands for SME financing
The International Finance Commission's South Asia Enterprise Development Facility (SEDF) will support UTI Bank in expanding its operations to the North-East. The main objective of this partnership is to improve access to finance for micro, ... More

Union Bank ties up with New India Assurance
Union Bank of India has launched `Union Health Care', a medical insurance cover (mediclaim) for its customers, in a tie-up with The New India Assurance Co Ltd. The policy offered at a competitive premium per family consisting of four persons, ... More

E-COMMERCE & E-BUSINESS
Service tax in e-system
Central Board of Excise and Customs has decided to include service tax in Electronic Accounting System in Excise and Service Tax (EASIEST), from March 1. EASIEST is operational as a pilot in Chennai since 2005 and has now been extended to ... More

INTERVIEW
`Targeted subsidies to poor can check inflation better'
In the Indian context it is unclear whether targeted subsidies to the least well-off will work effectively both because of the inefficiencies in delivery as well as the large consolidated fiscal deficit. More

INVESTOR PROTECTION
RBI fiat on customer complaints
The Committee on Procedures and Performance Audit on Public Services (CPPAPS) has suggested banks should place a statement analysing customer complaints before their boards. "Further a suggestion has been received that ... More