Business Daily from THE HINDU group of publications
Wednesday, October 08, 2008
ePaper | Mobile/PDA Version | Audio | Blogs
Business Daily from THE HINDU group of publications Wednesday, October 08, 2008 ePaper | Mobile/PDA Version | Audio | Blogs |
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MONEY & BANKING FINANCIAL MARKETS: Rupee breaches 48 mark Mumbai, Oct. 7 The steps announced by the financial market regulators to improve the liquidity in the system on Monday hardly had any positive impact in the forex market on ... OUTLOOK: Rising cost of funds weighs on banks’ net interest margins Profits not likely to be impacted, say bankers. Banks’ interest margins sharply dropped in the second quarter in tandem with the escalating funds raising ... TECHNICAL ANALYSIS: Rupee negative in near-term The mayhem in the equity markets, tightening credit and the rupee soaring above 47 against the dollar prompted the Reserve Bank of India to cut the credit reserve ratio by 50 basis points on Monday and the Securities and Exchanges Board of ... INSIGHT: Leave the rupee alone The Indian currency is near the Rs 48 level against the dollar. Sometime back, the Finance Minister announced that the Reserve Bank of India would do the needful to arrest the depreciating trend. Obviously the bank’s intervention in the ... PRIVATE BANKS: ICICI Bank service on Dish TV Mumbai, Oct. 7 ICICI Bank and Dish TV on Tuesday announced the launch of its interactive banking service, ... GOVT BONDS: Bond prices up marginally Bond prices increased marginally by 13 paise on Tuesday courtesy the positive sentiment after the RBI cut CRR by 50 basis points, said dealers. Though the market opened higher by Re 1, the gains were completely shaved off during the day, said ... SHORT TERM INSTRUMENTS: Call rate ends lower The inter-bank call rate ended lower at 10.50-11 per cent, as against the previous close of 11-11.25 per cent. In the one-day repo auction under the first liquidity adjustment facility (LAF), the RBI received and accepted 40 bids worth Rs ... PUBLIC SECTOR BANKS: Award for Bank of India Bank of India has won the Best Public Sector Bank Award at the third NDTV Profit Business Leadership Awards 2008. The bank’s Chairman and Managing Director, Mr T.S. Narayanasami, received the award at the hands of the Union Finance ... PENSION PLANS: Future Generali unveils 2 pension products Mumbai, Oct. 7 Future Generali India Life Insurance has launched two pension products — a traditional product and a ULIP — to cater to both the risk averse and risk loving customers. The Future Pension Plan, a traditional ... CREDIT MARKET: Real estate developers facing liquidity crunch as banks reluctant to lend Pune, Oct. 7 Liquidity crunch, global upheaval and market phenomenon are likely to drive up the real estate prices in the next couple of years, according to Mr Lalit Kumar Jain, President, Promoters and Builders Association of ... GENERAL INSURANCE: Only 1.2% Indian households have health cover: Study Kolkata, Oct. 7 While the average medical expenditure of an Indian household is 6.7 per cent of annual income, the penetration of health insurance in the country is only 1.2 per cent with an average sum assured of Rs 98,604, according to a ... MERGERS & ACQUISITIONS: BNP takeover of Fortis units not to affect India investments Mumbai, Oct. 7 The takeover of the banking and insurance group Fortis’ Belgium and Luxembourg assets by BNP Paribas is unlikely to affect their investments in Indian ... FOREX: MCX begins trading in currency futures Mumbai, Oct. 7 MCX Stock Exchange (MCX-SX) has recorded a turnover of Rs 287.49 crore with 59,952 contracts valued at $1,000 traded on the first day of currency futures trading on Tuesday. The open interest was ... INSIGHT: Financial crises — Should the state intervene? In a recent article in the Financial Times, Mr Alan Greenspan pleads for the protection of competitive markets. Since early this year, as the sub-prime problem snowballed into a crisis, several such articles have appeared in ... FINANCIAL MARKETS: Downside of foreign portfolio investment Foreign investors have poured in over a hundred billion dollars into portfolio investments in India. It was touted as a vote of confidence in Government’s economic policies and the economy. In the stock market boom, they earned ... CRR & BANK RATES: CRR cut: Only partial impact seen on liquidity It is unlikely to prompt interest rate cuts by banks. RBI has announced that it will reduce the Cash Reserve Ratio by 50 basis points with effect from October 11. Though the move will only partially ease the banks’ prevailing tight ... EVENTS: Bankers' team for Sri Lanka ... AWARDS & HONOURS: Doha Bank chief awarded ... GENERAL INSURANCE: Tata AIG health product Tata AIG Life Insurance Company Limited has launched a unit-linked health product called Tata AIG Life InvestAssure Health, a press release issued by the company said. The features of the product include a lump sum benefit that will be paid for ... Comments & Letters to the Editor to: bleditor@thehindu.co.in Subscribe to: Business Line |
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