The Hindu Business Line : Thursday, January 17, 2008

FOREX
TCS cushion against rupee rise at $3.1 b
Mumbai, Jan 16 TCS ended the third quarter of the fiscal with a hedge position of $ 3.1 billion, at a rate slightly higher than Rs 40 to the dollar, said Mr S. Mahalingam, Chief Financial Officer.In the previous sequential quarter, the ... More

Rupee tad weaker
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FINANCIAL PERFORMANCE
NPA recovery lifts profit of State Bank of Mysore
Bangalore, Jan. 16 State Bank of Mysore (SBM) reduced its gross non performing assets (NPA) in the third quarter (Q3) of the current financial year (2007-08) by Rs 31 crore on a year-on-year basis.Speaking to Business ... More

LIC Housing Finance Q3 net rises 38%
Mumbai, Jan. 16 Spurred on by higher net interest income, LIC Housing Finance Ltd reported a 38-per cent increase in Q3 net profit at Rs 106.02 crore, against Rs 76.61 in the corresponding quarter of the previous year.Mr S.K. Mitter, ... More

IDFC Q3 net up by 72%
Spurred by the boom in the infrastructure sector, Infrastructure Development Finance Co (IDFC) has reported a 72-per cent increase in its net profit for the quarter ended December 31, 2007, to touch Rs 198.67 crore, as against Rs 115.15 crore ... More

GENERAL INSURANCE
Private insurers improve market share to 40%
Retail focus, particularly motor biz, drives growth More

DEBT MARKET
Two cheers for the RBI
Legislation on settlement and G-secs More

HUMAN RESOURCES
Drivers of change in HR scene
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PUBLIC SECTOR BANKS
United Bank to vend ECGC products
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GOVT BONDS
Bond prices decline
Bond prices fell by around 20 paise as the increase in liquidity has raised fears of more Market Stabilisation Scheme (MSS) auctions. Total traded volumes on the order-matching system were at Rs 7,350 crore. The surplus of Rs 28,550 crore in the ... More

CORPORATE BONDS
Allahabad Bank to raise Rs 300 cr this fiscal
First time resort to perpetual bond issue More

SHORT TERM INSTRUMENTS
Call rates end flat
Call rates ended flat at 6-6.05 on Wednesday. In the first one-day reverse repo auction under the liquidity adjustment facility, the Reserve Bank of India received and accepted 24 bids for Rs 28,550 crore. There was no repo bid. The CBLO market ... More

MORTGAGE
Mortgage guarantee cos to be treated as NBFCs
Mumbai, Jan. 16 A Mortgage Guarantee Company will be treated as a Non-Banking Financial Company, said an RBI notification.The notification said that mortgage guarantee companies would be exempt from certain provisions of the RBI Act, ... More

Law silent on compulsory registration of mortgage deeds: HC
Chennai, Jan. 16 When a document was presented to a sub-registrar, he registered the same, and there was no provision in the Registration Act, 1908, that in case of cancellation of a registered mortgage, signature of mortgagee also must be ... More

MARKETING
There’s more in it than meets the eye
COLOURFUL BANKING More