The Hindu Business Line : Wednesday, January 30, 2008

AWARDS & HONOURS
Award of National Insurance Co
The National Insurance Company has bagged the Customer & Brand Loyalty Award 2008 instituted by Indiatimes Mindscape and Bharati Vidyapeeth Institute of Management Studies & Research, according to company sources. The award was given in ... More

FOREX
Rupee closes unchanged
The rupee did not show any drastic movement and closed flat despite the RBI maintaining status quo on interest rates. The RBI’s decision favours the appreciation of the home currency, particularly if the US Federal Reserve decides to cut ... More

Seminar on forex risk management
The Federation of Indian Export Organisations in association with the Indian Chamber of Commerce and Industry, Coimbatore, and HSBC Bank is organising a seminar on ‘Foreign Exchange Risk Management’ at the Chamber Conference Hall on ... More

STOCKS
Bank stocks take a beating
Mumbai, Jan. 29 Bank stocks took a beating on the bourses on Tuesday as the Reserve Bank of India’s Credit Policy belied the market expectation of a rate cut. The BSE-Bankex plunged 3.48 per cent after riding high on Monday on ... More

CREDIT POLICY
Chidambaram backs RBI’s decision to keep rates unchanged
‘Stance reinforces the emphasis on price stability’ More

Monetary policy: India Inc’s concern
New Delhi, Jan. 29 India Inc on Tuesday expressed reservations over the Reserve Bank of India’s decision to keep Bank Rate, reverse repo rate, the repo rate and the cash reserve ratio unchanged as part of its third quarter review of the ... More

‘RBI move appropriate’
Coimbatore, Jan 29 Bankers, by and large, felt that the apex bank’s decision to leave the rates unchanged left a ‘feel good effect’.“The RBI has taken the right decision and this was clear from the positive ... More

RBI looking for ‘credit quality’
Mr B. Sambamurthy, Chairman and Managing Director of Corporation Bank, said that the RBI Governor is emphasising on two points in the third quarter review of annual monetary policy for 2007-08. The first point being credit quality. ... More

RBI’s stance is a ‘rational one’
Mumbai, Jan. 29 Mr Monish Mahurkar, Head of FICC, DSP Merrill Lynch:While the RBI left all key rates unchanged, the bond and stock markets still expect the policy stance to soften eventually. Bond yields are up only a ... More

FINANCIAL PERFORMANCE
Syndicate Bank seeks Govt nod to issue 8 cr shares
Q3 net up 21% on treasury profits More

Karur Vysya Bank Q3 net profit rises 77%
Coimbatore, Jan. 29 Karur Vysya Bank net profit rose 77 per cent to Rs 46.43 crore in the third quarter ended December 31, 2007 from Rs 26.19 crore in the same period the previous year. The operating profit went up 43 per cent from Rs ... More

CONSUMER FINANCE
Easy loans from Future Money add to Home Town’s topline
Rs 80 cr earmarked for 4 new stores More

Shriram Transport organises truck utsav
Visakhapatnam, Jan.29 Shriram Transport Finance Company Ltd is organising a “truck utsav” here on Wednesday and Thursday at Nehru Place, Visakhapatnam port sports stadium, from 11 a.m to 5 p.m. Mr R. Sridhar, Managing ... More

RBI & OTHER CENTRAL BANKS
RBI expects inflation to be in 4-4.5% range in 2009
GDP growth target remains at 8.5% More

PUBLIC SECTOR BANKS
SBI help desk on IT refund
More

INTEREST RATES
Key rates unchanged; RBI focuses on inflation control
Interest rates unlikely to soften in the short term More

Bankers expect a drop in rates after a few months
Chennai, Jan. 29 Although the credit policy of the Reserve Bank of India, announced today, does not cue a rate cut, it appears to be a matter of consensus among bankers that interest rates will fall after a few months. Most bankers that ... More

SBH not to cut interest rates
Hyderabad, Jan. 29 State Bank of Hyderabad has no plans to cut interest rates in the aftermath of Credit Policy review by the Reserve Bank of India, according to Mr Amitabha Guha, Managing Director of the bank.“We expected a rate ... More

GOVT BONDS
Bond market weak
The bond market was weak post the monetary policy, as the Reserve Bank of India left key interest rates unchanged. The direction of the policy is weak, said a bond dealer with a private sector bank. “The policy focuses more on management of ... More

MERGERS & ACQUISITIONS
Cabinet may take up State Bank of Saurashtra merger plan
New Delhi, Jan. 29 The proposed consolidation of State Bank of Saurashtra (SBS) with the State Bank of India may come up for Cabinet approval next week. Official sources said that the proposal is likely to be taken up next week by the ... More

CO-OPERATIVES
Final package on long term co-op credit structure by mid-March
The Finance Minister, Mr P. Chidambaram, said on Tuesday that the final package on the revival of long-term co-operative credit structure (LTCCS) would be sent to the States by March 15 for their acceptance.“There is consensus on ... More