The Hindu Business Line : Tuesday, March 04, 2008

FARM CREDIT
About 60 lakh AP farmers to benefit from loan waiver
Andhra Pradesh is going to be the biggest beneficiary of the Rs 60,000-crore waiver of farm loans announced by the Finance Minister, Mr P. Chidambaram. The State would account for nearly a fifth of the total amount proposed to be ... More

‘Time for farmers to achieve higher productivity’
With debt relief provided to the tune of Rs 60,000 crore in the Union Budget, it is now for the farmers to change their mindset and work towards achieving higher productivity, said Mr S.S. Palani Manickam, Union Minister of State for Finance, ... More

FOREX
Rupee weaker by 36 paise
The rupee weakened by 36 paise against the greenback on Monday tracking the weakness in the domestic stock market and dollar demand from nationalised and foreign banks. The home currency opened at 40.15/17 and closed at 40.38, lower than the ... More

SOFTWARE
Finacle adoption at Russian bank
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LIFE INSURANCE
GoAir passengers get Tata AIG cover
Mumbai, March 3 GoAir, the Wadia group-owned low cost carrier, signed a deal with Tata AIG General Insurance to offer insurance travel cover to its passengers booking their tickets only through the carrier’s Web site, a statement ... More

LIC development officers plan march to Parliament
New Delhi, March 3 The National Federation of Insurance Field Workers of India (NFIFWI) would be conducting a Parliament march on March 5, protesting the proposed move to hike foreign direct investment (FDI) in the insurance ... More

DEBT MARKET
Bond prices up post-budget
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DERIVATIVES MARKETS
Trading positions for banks in rate futures likely
Mumbai, March 3 Banks may be allowed to take trading positions in the interest rate futures market, if the recommendations of the Working Group on interest rate futures constituted by the Reserve Bank of India are ... More

PUBLIC SECTOR BANKS
Oriental Bank in tie-up with Kotak MF
Mumbai, March 3 Kotak Mahindra Asset Management Company has entered into a tie-up with Oriental Bank of Commerce for the distribution of its mutual funds through the bank’s branches across the country.Under a memorandum of ... More

FOREIGN BANKS
Barclays taps into mobile banking to expand reach
Mumbai, March 3 Customers of Barclays bank can now carry out many of their banking transactions through their mobile phones. The service offered by Barclays is simple to use and can be accessed by just dialing *598*1# on the mobile. ... More

CORPORATE BONDS
Oil cos begin selling bonds
Low interest in paper keeps spreads high More

NON-PERFORMING ASSETS
‘Loan waiver not to hit banks’
Mumbai, March 3 Mr T.S. Narayanasami, Chairman and Managing Director, Bank of India, said, “There is no need for any apprehension that the profitability of banks will get affected following the proposal to waive off Rs 60,000 crore farm ... More

Bank of India looking to sell Rs 250-cr NPAs
Mumbai, March 3 Bank of India is looking to sell aggregate stressed assets of around Rs 250 crore to an asset recovery company. This is the first time that the bank would be selling bulk non-performing assets, said Mr T.S. Narayanasami, ... More

SHORT TERM INSTRUMENTS
Call rates tad lower
Call rates closed at 7.10-7.20 per cent, against the previous close at 7.25-7.50 per cent. In the first one-day reverse repo auction under Liquidity Adjustment Facility, the Reserve Bank of India received and accepted one bid for Rs 2,500 crore. ... More

TRADE & LABOUR UNIONS
RBI staff union calls for strike
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CO-OPERATIVES
Rural co-op banks despair of recovery
Farm loan waiver to hit fresh disbursals too More