The Hindu Business Line : Wednesday, April 04, 2007

INSIGHT
Return of the Reserve Ratio
The rising inflation has driven the central bank to raise the CRR to suck liquidity out of the system. Though given up as an indirect instrument, the CRR seeks to impact the level of money supply by affecting the value of the multiplier and is thus o n a par with Open Market Operations, currently the preferred monetary tool, says A. SESHAN. More

FINANCIAL MARKETS
Indian markets becoming `efficient'
To find the answer, one must revert to one of the great insights of modern finance - that markets are efficient. Index funds are, by definition, passive investments in stocks mirroring exactly the composition of a popular index such as the ... More

INTEREST RATES
PSU banks mulling lending rate hike
`Rising cost of funds leaves us with no other option' More

GOVT BONDS
Bond market witnesses meltdown
After the stock market crash, came the meltdown in the bond market. Prices in the debt market, which opened for the first time after the RBI move on Friday last week, tumbled by over a rupee. The 8.07 per cent-10 year-2017 paper touched an ... More

CREDIT CARDS & DEBIT CARDS
Fullerton India may launch co-branded card
Temasek to invest $50 m more More

ICICI Bank gives green push to debit cards
In the coming months, ICICI Bank will strive to establish a connection in the minds of its customers between using their debit cards and saving the planet. Today, most people use debit cards to draw money from ATMs and spend the money at ... More

FIXED DEPOSITS
SBH lowers NRE deposit rates
State Bank of Hyderabad (SBH) has revised interest rates on Non-Resident External (NRE) term deposits with effect from April 1, 2007. According to a press release issued here, interest rate on deposits for one year to less than two years has been ... More

Karnataka Bank cuts NRE rates
Karnataka Bank has revised interest rates on its NRE and FCNR(B) deposit schemes with effect from April 3. A bank release said on Tuesday that the rate on NRE deposits has been reduced to 5.72 per cent (5.74 per cent) for tenure ... More

ALLIANCES & JOINT VENTURES
Spanish co to open rep office
BBVA, a Spanish financial services group, has received the RBI approval to open a representative office in Mumbai. The representative office will have five staffers and will be managed by BBVA's Singapore branch. The bank's ... More

Religare, Anyonya Coop in tie-up
Religare, a financial services provider, has announced a tie-up with Vadodara-based Anyonya Cooperative Bank to offer its financial products, including equities and commodities, to the bank's ... More

OUTLOOK
Karnataka Bank sets Rs 28,500-cr biz target
Karnataka Bank Ltd, which achieved business turnover of over Rs 23,500 crore during 2006-07, is planning to reach a turnover of Rs 28,500 crore during 2007-08. Mr Anantakrishna, Chairman and Chief Executive Officer of Karnataka Bank Ltd, said ... More

Another CRR hike unlikely: I-Sec
An ICICI-Securities (I-Sec) report on the recent monetary policy measures said that the chances of another CRR hike in this quarter would be low, given the fact that the first quarter in the fiscal is seasonally slow for forex inflows. But ... More

PEOPLE
Dasgupta appointed MD of LIC
Mr A.K. Dasgupta has been appointed as Managing Director of the Life Insurance Corporation of India. Mr Dasgupta will be the third MD in LIC, along with Mr D.K. Mehrotra and Mr Thomas Mathew. Mr Dasgupta has held various posts in ... More