The Hindu Business Line : Friday, October 10, 2008

MONEY & BANKING

INTEREST RATES: Market jitters persist
Asian stocks rise on rate cuts; trend fails to sustain in Europe,US. Mumbai, Oct. 9 Worried investors in Indian equity markets hoping for a turn of sentiment in the global markets following coordinated rescue efforts by governments across the ...

RBI & OTHER CENTRAL BANKS: Bankers anticipate another cut in CRR
Mumbai, Oct. 9 As the rupee fell to a six-year low on account of huge amount of capital outflows from the domestic equity markets and with the RBI continuing to sell dollars, liquidity conditions are expected to remain tight in the coming ...

FINANCIAL POLICY: Trusts may get to invest in shares
Bill likely in coming session. New Delhi, Oct. 9 Trusts may soon be allowed to park their funds in listed shares or private sector debt instruments that have investment grade rating from credit rating ...

FIXED DEPOSITS: Banks see further tightening of liquidity; hike deposit rates
Bulk deposits being offered rates as high as 12%. Bangalore, Oct. 9 Banks have begun pushing up deposit rates anticipating a further tightening of liquidity, despite the Reserve Bank’s 50 basis points cut in the Cash Reserve ...

LIFE INSURANCE: Max NY Life distribution office
Max New York Life has opened a Direct Sales Distribution (DSD) office in Coimbatore, the second in Tamil Nadu after Chennai. According to Mr V.Vishwanand, Director and Head-Bancassurance & Direct Sales Distribution, the DSD would help ...

FIXED DEPOSITS: KVB hikes deposits rates
Karur Vysya Bank has increased the interest rate on deposits in the one to three year bucket by 75 basis points to 11 per cent (10.25 per cent). It has left the rate unchanged for deposits on other time buckets. — ...

E-COMMERCE & E-BUSINESS: RBI sets limits for charges on e-payments, outstation cheques
Mumbai, Oct. 9 Inward electronic transaction facilities offered by banks will now be free of cost, following a notification by the Reserve Bank of India issued on October 8. The RBI has also set limits for the fees on ...

RBI & OTHER CENTRAL BANKS: Chidambaram leads team for Fund-Bank meet
New Delhi, Oct 9 The Finance Minister, Mr P. Chidambaram, is leading a high-powered delegation to the bi-annual meetings of the International Monetary Fund and World Bank in Washington on October ...

CRR & BANK RATES: Industry seeks more CRR cuts
To infuse sufficient liquidity and boost demand in a slowing economy, industry chambers like the FICCI(Federation of Indian Chambers of Commerce and Industry) and CII (Confederation of Indian Industries) have sought further reduction in the ...

FOREX: Skidding rupee
A year ago, one US dollar was equal to Rs 40. Now it is equal to Rs 48 — a depreciation of almost 20 per cent. A year ago, ‘experts’ were predicting that the rupee could appreciate to Rs 38, if not more; today they are ...

INSIGHT: Brown’s booster for banks
In an unprecedented move that turned politics and economics on their head, the British Prime Minister, Mr Gordon Brown, has ordered what tantamounts to part-nationalisation of banks. He is putting through a massive cash injection of £50 ...

E-COMMERCE & E-BUSINESS: RBI, ICICI Bank discuss tech difficulties in ECS loan repayments
Hyderabad, Oct. 9 ICICI Bank has submitted to Reserve Bank of India (RBI) a list of banks with which it is facing technical difficulties in accepting loan repayments through the Electronic Clearing System ...

PEOPLE: 3 new EDs appointed
New Delhi, Oct. 9 The Centre has elevated three General Managers in various public sector banks to the post of Executive ...

FIXED DEPOSITS: NRI deposits stage strong comeback
Non-resident deposits have staged a strong comeback with commercial banks in Kerala witnessing a flow of an additional Rs 1,976 crore during the first quarter of the financial ...