MONEY & BANKING
INSIGHT
The year of borrowing dangerously
The increase in capital inflows is frequently cited as yet another indicator of the current economic success of the country. Yet it reflects a very rapid increase in External Commercial Borrowings by corporates, that are being used not so much for d omestic investment as to acquire assets abroad. In this edition of Macroscan, C. P. Chandrasekhar and Jayati Ghosh examine the external accounts and consider how it may increase future financial fragility.
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FOREX
Re: Further strength ahead?
Latest levels make it a frontrunner for best performing Asian currency
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Rupee gains against dollar
The rupee strengthened by about 7 paise against the greenback to close at 40.51/52 on Monday down from the previous close of 40.5850/5950. The domestic currency rose intra-day to a nine-year high of 40.28 driven by strong FII ...
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INFORMATION TECHNOLOGY
AP plans pilot ATM projects in Warangal dist
Works worth Rs 2,880 crore had already been sanctioned for 19 NREGS districts, said Mr G. Chinna Reddy, Minister for Rural Development.
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SOFTWARE
TCS creates unit for financial solutions
Products will be positioned under TCS BaNCS brand
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LIFE INSURANCE
Tata AIG plans expansion in East
Aims to strengthen distribution network
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LIC South Central Zone tops in new biz premium
Life Insurance Corporation's South Central Zone, Hyderabad, has topped all divisions of the corporation in the generation of new business premium during the fiscal year 2006-07. "The South Central Zone had collected Rs 5,968 crore of new ...
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ING Vysya unveils ULIP
The ING Vysya Life Insurance Company Ltd (IVLICL) has launched a new Unit Linked Insurance Plan (ULIP). Speaking on the salient features of the product, IVLICL's head of product development, Mr Y.V.D.V. Prasad, said that this provided for an ...
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LIC launches Jeevan Amrit
LIC has launched "Jeevan Amrit" designed with a short period for premium payment. The premium payable decreases after the first one-year of the policy and the payment is limited to a term of three to five years, said a press release. The policy ...
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GENERAL INSURANCE
`Scope for improving customer service in insurance'
The General Insurance Employees' All India Association, among other issues, has avowed to improve customer service. It has sought management intervention for creation of an R&D cell to evolve new products that meet customer requirements, gain ...
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GOVT BONDS
NDS-OM system reach widened
Provident funds, pension funds, mutual funds, certain non-banking finance companies, insurance companies, cooperative banks, regional rural banks and trusts (which could invest in government securities) can now place orders on ...
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Bond prices up 40 paise
Bond prices surged by around 40 paise as contrary to expectations, the RBI did not take any action to mop up excess liquidity. Total traded volumes on the order-matching system were around Rs 5,875 crore. Bond prices had been ...
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CREDIT MARKET
States going slow on borrowing schedules
Rising rates of SDLs, mounting cash surpluses curtail their requirements
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SHORT TERM INSTRUMENTS
Call rates end low at 5.7-6%
The inter bank call rates closed lower at 5.75-6 per cent on Monday against the previous close of 7-7.1 per cent. "There was easy liquidity in the system," said a dealer with a private bank. In the first one-day reverse repo ...
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MERGERS & ACQUISITIONS
StanChart may buy 49% stake in UTI Securities
Standard Chartered Bank is in negotiations with Securities Trading Corporation of India (STCI) to buy an initial 49 per cent stake in the investment and broking firm UTI Securities for an undisclosed amount. STCI is the holding company of UTI ...
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