The Hindu Business Line : Wednesday, July 02, 2008

FARM CREDIT
Many banks release beneficiary farmers’ list
Bangalore, July 1 Public sector Canara Bank has published its list of farmers eligible for the Government’s agriculture loan waiver programme.The release of the list across its 1,795 branches in the country was in compliance with ... More

FOREX
RBI, Bank of Japan in pact
Mumbai, July 1 The Bank of Japan (BOJ) and the Reserve Bank of India (RBI) signed a bilateral swap arrangement, which enables both countries to swap their local currencies against the US dollar up to an amount of $3 billion.According to ... More

Export growth slows to 12.9% in May
Trade deficit increases to $20.64 b More

TECHNICAL ANALYSIS
Short-term support for rupee at 44
The manic selling in the equity markets this week had its effect on the Indian currency too, causing it to slip below the 43 bastion against the dollar on Tuesday. Dollar demand from arbitrageurs, reflected in the 1-month non-deliverable ... More

LIFE INSURANCE
Get IRDA approvals
AEGON Religare Life Insurance Company Ltd has said that it has received the final approval–R3 licence from the Insurance Regulatory and Development Authority (IRDA) to operate in the life insurance space. The R3 licence from the IRDA is the ... More

LIC to focus on alternative channels of distribution
Looking to tie up with rural, cooperative banks in Eastern zone More

Bharti AXA begins operations in Tirupati
Hyderabad, July 1 Bharti AXA Life Insurance Company Ltd, the private life insurance joint venture between Bharti Enterprises and AXA Group, announced the launch of its operations in Tirupati. The branch presence of Bharti AXA Life in ... More

GENERAL INSURANCE
Insurance premium collection
Four public sector general insurance companies in the State have registered a growth rate of 6.77 per cent in their premium income in 2007-08. The total premium amount procured by the companies in Kerala region during the last fiscal was Rs ... More

FINANCIAL MARKETS
Futures markets: Facing the heat
It is currently the burning question. Are futures markets the cause of high energy and commodity prices? A large section of economists, lawmakers and public opinion thinks so. Thus the calls to tighten regulation and, indeed, in some ... More

PUBLIC SECTOR BANKS
Central Bank keen to raise more capital
Kolkata, July 1 Central Bank of India will be looking at raising Rs 500-600 crore in 2008-09 in order to boost its capital adequacy ratio to about 11 per cent, according to Ms H. A. Daruwalla, Chairperson and Managing Director of the ... More

‘Farm debt waiver scheme completed in 30 days’
Chidambaram opens online 101 SBI branches, distributes fresh loans More

INTEREST RATES
SBT hikes interest rates
State Bank of Travancore (SBT) has hiked the interest rates for domestic term deposits and non-resident ordinary term deposits with effect from July 1.The increase is 0.50 per cent on all maturities from six months to two years, according to a ... More

NON-PERFORMING ASSETS
‘Many Gulf Indians in debt trap’
Kochi, July 1 Accompanying a major proliferation of the sources of credit in the UAE, payment defaults and cases against defaulting Indians have also been on the rise. While the main sources of loans continue to be banks that charge up ... More

CREDIT MARKET
Union Bank sees no slowdown in loans
Mumbai, July1 Union Bank of India hopes to achieve a net interest margin of 2.8 per cent despite the recent increase in deposit rates, said Mr M.V. Nair, Chairman and Managing Director, Union Bank of India.He was speaking to reporters ... More

FIXED DEPOSITS
Corporation Bank hikes NRE rates
Corporation Bank has increased the rate of interest on NRE term deposits with effect from July 1. A bank release said here on Tuesday that the interest rate on NRE term deposits has been increased to 3.31 per cent (3.16 per cent) for a tenure of ... More

BoI, Dena Bank hike deposit rates
Mumbai, July 1 Bank of India has increased the interest rates on domestic term deposits between 25-60 basis points, across various maturities, with effect from July 2, 2008, said a note the bank. The bank had raised its benchmark prime ... More

PEOPLE
Mahajan takes over as CMD, Canara Bank
Bangalore, July 1 Mr Avinash Chander Mahajan took over as Chairman and Managing Director of Canara Bank on Tuesday on the retirement of Mr M.B.N. Rao. Mr Mahajan was formerly Chairman and Managing Director of Allahabad Bank. He is also ... More