The Hindu Business Line : Wednesday, March 05, 2008

FARM CREDIT
Loan waiver: Bounty for cane farmers
Chennai, March 4 The defaulters among the farmers must be one relieved bunch, thanks to the Rs 60,000-crore loan waiver announced by the Centre. Sugarcane farmers’ net profit this season is expected to jump 5-6 times thanks to the ... More

PENSION PLANS
ING Vysya Life’s pension product
ING Vysya Life Insurance has launched a unit-linked pension product — ING Golden Life. The product is open to people aged between 18 and 65 years and has both regular and single premium options, Mr Madhav Kumar, Regional Vice-President ... More

AWARDS & HONOURS
YES Bank bags award
YES Bank has bagged the ‘Financial Insights Innovation Award’ (FIIA) for the ‘most innovative ePayment solution’ at the FinTech Asia Congress 2008 in Singapore.The Awards Program, according to the bank’s ... More

INSIGHT
Credit spreads unmoved by easy money
It could have hardly come at a worse time. Just as Western economies are in descent mode, inflation is rising.Earlier, it was only headline inflation which flashed red. The US Fed could console itself that, stripped of food and energy ... More

FOREX
Rupee strengthens
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LIFE INSURANCE
Legal & General, BoB, Andhra Bank sign insurance partnership
Mumbai, March 4 ‘Bank of Baroda Legal and General Insurance’, the new life insurance joint venture partnership between Bank of Baroda, Andhra Bank and the UK-based Legal and General insurance will commence operations between ... More

DERIVATIVES MARKETS
ICICI Bank takes $264-m hit on overseas credit exposure
‘Current market value of assets lower than acquisition value’ More

ICICI Bank’s derivatives exposure at over $2.2 b
Chennai, March 4 ICICI Bank and its overseas subsidiaries have an exposure of over $2.2 billion in the credit derivatives market. Credit derivatives are defined as tradable financial instruments whose price and value derives from the ... More

RBI & OTHER CENTRAL BANKS
Chief Economist of World Bank — The man for the job
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Prudential norms for letters of comfort
Full disclosure in financial statements to be mandatory More

GOVT BONDS
Yields harden by 5 bps
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CREDIT CARDS & DEBIT CARDS
DCB ties up with ICICI Bank for cards biz
Mumbai, March 4 Development Credit Bank has tied up with ICICI Bank to foray into credit card business. ICICI Bank will provide required expertise, skills, reach and infrastructure while DCB will provide the customer base.DCB plans to ... More

TRADE & LABOUR UNIONS
IBA, bank unions finalise schedule to discuss demands
Mumbai, March 4 The Indian Banks’ Association and the bank unions, under the aegis of the United Forum of Bank Unions (UFBU), have fixed the time schedule for discussing the demands. The two parties had signed a memorandum for drawing up ... More

RIGHTS ISSUE
Govt may issue commitment letter for SBI rights offer
New Delhi, March 4 The Government is likely to issue a commitment letter to State Bank of India by March 18 for its entitlement in the Rs 16,700-crore rights issue of the bank. It had already decided to issue bonds (special marketable ... More

OUTLOOK
Arcil to raise Rs 1,400 cr by April-end
New Delhi, March 4 Asset Reconstruction Company (India) Ltd (Arcil) expects to mobilise Rs 1,200 crore to Rs 1,400 crore by end-April to fund acquisition of assets, its Managing Director and CEO, Mr S. Khasnobis, has said. “We ... More

PEOPLE
New CFO for SKS Microfinance
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