The Hindu Business Line : Tuesday, September 23, 2008

MONEY & BANKING

FINANCIAL SERVICES: Goldman Sachs, Morgan Stanley arms need RBI nod
For the time being to be under SEBI watch. Mumbai, Sept. 22 There is unlikely to be any immediate change in the Indian operations of Morgan Stanley and Goldman Sachs which are permitted by the US Federal Reserve to become bank holding companies, ...

FINANCIAL INSTITUTIONS: FDIC data hints at more financial trouble in US
Mumbai, Sept. 22 If the indications from Federal Deposit Insurance Corporation (FDIC), the fund established by the US government to insure deposits of banks and institutions, are anything to go by, the worst does not seem to be over for the ...

CREDIT MARKET: Spinners’ association seeks 2-yr moratorium on bank loans repayment
Urges Centre to reduce term loan interest rates. Coimbatore, Sept. 22 The South India Small Spinners Association (SISSPA), Coimbatore has sought a blanket two-year moratorium on bank loan repayment in view of the tough market conditions the ...

GENERAL INSURANCE: Private insurers see lower profitability
Higher burden on account of motor pool. Chennai, Sept. 22 General insurers, particularly private players, are gearing up for a lower profitability for the current financial year. Industry observers say that the current year is likely to be worse ...

CREDIT MARKET: Banks told to adopt flexible measures for education loans
In a move to help raise level of knowledge, skills. Madurai, Sept. 22 The Union Finance Minister, Mr P. Chidambaram, has urged bankers to adopt a flexible approach while extending ...

TRADE & LABOUR UNIONS: Insurance union opposes FDI hike
The All-India Insurance Employees’ Association (AIIEA) has opposed any hike in FDI limits in the insurance sector. The union would organise a one-day strike if the Government brought any legislation to hike the limit from 26 per cent to 49 ...

CO-OPERATIVES: Vizag co-op plans more branches
The Visakhapatnam Urban Co-operative Bank is planning to set up 10 more branches in the next three years, according to Mr M. Anjaneyulu, Chairman. He made the announcement at the annual general meeting of the bank here on Sunday. He said the ...

PRIVATE BANKS: ICICI opens ATM at BHEL township
The General Manager (in-charge), Bharat Heavy Electricals Ltd, Mr V. Ananthakrishnan, commissioned the automated teller machine (ATM) of the ICICI Bank at BHEL Township E sector at a brief function held here recently. The General Manager ...

CREDIT MARKET: Priority sector lending in Ernakulam below target
Improve position by next quarter, Collector tells bankers. Kochi, Sept. 22 The performance of all banks and government departments on priority sector lending and disbursements under government-sponsored schemes and other poverty alleviation ...

CREDIT MARKET: Indian Bank extends more loans to rural students
Indian Bank has disbursed more educational loans to students from rural and semi-urban areas and girl students accounted for more than 35 per cent of the total, according to Mr M.S. Sundara Rajan, Chairman and Managing Director of ...

FOREX: Rupee closes firmer
The rupee failed to hold on to intra-day gains against the dollar on Monday but closed tad firmer tracking the stock market movement. Volumes in the foreign currency market were also thin, said dealers. But the injection of liquidity by ...

GOVT BONDS: Bond prices fall 55 paise
Bond prices fell by 55 paise on Monday, as the liquidity crunch in the system continued, said dealers.Trading volumes were thin as not much participation was seen, said a dealer with a private bank.Total traded volumes on the order matching ...

SHORT TERM INSTRUMENTS: Call rates higher
Call rates closed substantially higher at 14.0-14.5 per cent, against the previous close of 11.5-12.5 per cent. The rates touched an intra-day high of 15-15.5 per cent signalling tight liquidity t in the market. The Reserve Bank of India ...

HOUSING FINANCE: Luring home buyers
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RBI & OTHER CENTRAL BANKS: RBI warns primary dealers against leveraging
Mumbai, Sept. 22 The Reserve Bank of India has cautioned market participants in the Government securities that they should provide sufficient funds in their current account with the RBI on the auction settlement day before 3 p.m, in case of ...