MONEY & BANKING
ECONOMIC SURVEY
Disbursements for rural infrastructure lag sanctions
Disbursements under the Rural Infrastructure Development Fund continue to lag behind sanctions, according to the Economic Survey, 2006-07. The cumulative amount sanctioned to the State governments up to January 25, was at Rs 58,795.36 crore while ...
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Survey pitches for pension reforms
While pension reforms refuse to make headway in the wake of political opposition, the survey has made a strong case for bringing about a vibrant pension sector in the country and has said that it would be a "highly beneficial force" in the ...
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FOREX
Rupee trades flat vs dollar
The rupee traded flat against the dollar on Tuesday ahead of the Union Budget. The rupee opened at 44.18, moved in the range of 44.15-44.22 and closed at 44.21, against the previous close of 44.20/2050 on Monday. "There were ...
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GENERAL INSURANCE
Plea to raise cap on health cover tax benefits
Mr Antony Jacob, Managing Director, Royal Sundaram Alliance Insurance Company hopes that the promised comprehensive Insurance Reforms Bill will happen soon. "Foreign direct investment needs to be increased to 49 per cent. This will allow for ...
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FINANCIAL MARKETS
Asset bubbles: Central banks can call the shots
A much-bandied about phrase in recent times, when talking about financial markets, is the abundance of `global liquidity'. Most explanations of the current huge run-up in asset prices attribute it to the system being awash with liquidity. But ...
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DEBT MARKET
Bond prices fall on profit booking
Bond prices fell by around 10 paise on profit-booking. Total traded volumes on the order matching system were Rs 3,125 crore (Rs 3,000 crore). Dealers said bond prices rose by around 20 paise during the day in anticipation of a ...
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RBI & OTHER CENTRAL BANKS
Is the RBI inflating India?
There is evidence that the Reserve Bank of India may have been inflating the economy even while keeping the rupee weak and the rupee prices of imports high. It has made living an avoidable misery for the weaker sections. The bleak forecast is that in terest rates will be kept high to fight inflation. This will choke investments and suppress growth, says G. RAMACHANDRAN.
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CREDIT MARKET
Anil Chem working cap limit up
Anil Chemicals and Industries Ltd today said that its board of directors has noted that the disbursement made by Punjab National Bank for working capital limit of Rs 4.20 crore against the earlier limit of Rs 2.75 crore. ...
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Slowdown likely in bank credit growth
`Reforms must reach out to neglected sectors'
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SHORT TERM INSTRUMENTS
Call rates tad lower
Banks parked Rs 23,470 crore with the RBI. According to a dealer in a private bank, "Liquidity was comfortable on RBI's regular intervention in the forex market." Call rates closed at 6.10-6.20 per cent on Tuesday against the ...
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OVERSEAS INVESTMENTS
Allahabad Bank opens HK branch
Allahabad Bank this week opened its first overseas branch in Hong Kong. The branch is located at the Lippo Centre and will be serving both retail and corporate clients. Mr T.Y. Chan, Head of Banking Supervision, Hong Kong ...
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TRENDS
Where have all the high-value notes gone?
Indians may be buying more cell phones, cars and colour television sets with the economy chugging along at nine per cent as the Economic Survey proudly points out. But that is nothing compared to the market for high-denomination currency notes, ...
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Habits die hard!
A CUSTOMER FILLS UP forms sitting on the floor at a swanky bank branch in Berhampur in Orissa on Tuesday.
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