The Hindu Business Line : Saturday, December 01, 2007

FOREX
Forex reserves rise $1.13 b
Mumbai, Nov. 30 The forex reserves went up by $1.133 billion to $272.281 billion for the week ended November 23 following constant intervention by the Reserve Bank of India in the market, said a dealer with a private bank.The reserves ... More

Rupee gains 13 paise
The rupee ended higher by 13 paise at 39.62 against the previous close of 39.75/76, due to good dollar inflows. According to dealers, there was good selling at all levels and no support for the dollar was seen by way of buying by nationalised ... More

GENERAL INSURANCE
Universal Sompo plans Rs 238-cr capital outlay
Mumbai, Nov. 30 Universal Sompo, the general insurance venture promoted by Indian banks and a Japanese partner, will kick-off its operations with an initial capital outlay of Rs 238 crore. The company plans to focus on health, motor, ... More

FINANCIAL POLICY
Infrastructure tag for lending to oil pipelines
Mumbai, Nov. 30 Lending to projects involving laying down or maintenance of gas, crude oil or petroleum pipelines will now be included under infrastructure lending of banks and financial institutions.In a notification released today, ... More

Second RBI draft on holding cos soon
Mumbai, Nov 30 The wait just got longer for ICICI Bank and SBI on their proposals to set up holding companies for their insurance and asset management businesses.The Reserve Bank on Friday said that it was still in the process of ... More

RBI & OTHER CENTRAL BANKS
RBI favours Lok Adalat forum for loan recovery
Follow-up on warning against strong-arm methods More

GOVT BONDS
Bond prices flat
Bond prices were almost unchanged as traders were cautious about liquidity in the system. Total traded volumes on the order-matching system were at Rs 3,145 crore (Rs 2,175 crore). Dealers said banks were flush with securities after many ... More

NON-PERFORMING ASSETS
HC stays fine on ICICI Bank
Chennai, Nov. 30 ICICI Bank, that came under considerable media fire, for the methods used by its recovery agents, has earned a breather. The imposition of a Rs 55-lakh fine in the Tapan Bose Case by the Delhi State Consumer Commission has ... More

SHORT TERM INSTRUMENTS
Call rates steady
More

MERGERS & ACQUISITIONS
Stir against merger move
Coimbatore, Nov 30 Opposing the proposed merger of State Bank of Saurashtra and other associate banks with State Bank of India, the employees and officers in the SBI associate banks have decided to strike work on December 3 and ... More

RIGHTS ISSUE
SBI rights issue gets go-ahead
Through bonds, Govt will subscribe to Rs 10,000-cr worth of shares More

Analysts welcome Govt nod to SBI rights issue
Expect re-rating of PSB banks More

Decks cleared for SBI to get bigger
Chennai, Nov.30 State Bank of India getting Cabinet approval for raising Rs 16,000 crore signals the decks being cleared for the country’s top bank to get bigger. Its closest competitor, ICICI Bank, raised a whopping Rs 20,000 crore of ... More

PEOPLE
Ribeiro is Citibank ombudsman
Mumbai, Nov. 30 Citibank has appointed Mr Julio Francis Ribeiro as its external ombudsman for all collections and credit-related consumer disputes. He will act as an independent expert to customers who wish to seek such external ... More

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Cross Currency Rates

P-Note blues

Union Budget 2007-08

Railway Budget 2007-2008

Economic Survey 2006-2007

Other Top Stories
5 PSUs join hands to float Coal Ventures International

24x7guru partners Tata Sky for interactive learning service

Moser Baer setting up grid connected solar farm

Ericsson wins $100-m Idea Cellular contract

Forex reserves rise $1.13 b

Commerce Ministry unhappy with export relief package

Decks cleared for SBI to get bigger

CCEA nod for SCI to buy 6 handymax bulk carriers

Looking back
Nov. 18-Nov. 24
Yields up on tight liquidity; may remain ranged till year-end

Powerloom sector lists out export woes

Rising input costs hurt Yavatmal’s cotton farmers

‘The dollar is being undervalued’

HP Financial Services seeks FIPB nod

Forex reserves rise $967 m

Cos’ overseas borrowings fall in Aug