The Hindu Business Line : Friday, March 03, 2006

`Service tax on ATM confusing'
The proposal to exempt investment in bank fixed deposits for a term of five years from income-tax is a positive move as banks can now mobilise more long-term deposits. Both banks and service providers remain confused regarding ... More

FOREX

Rupee firm against dollar
The rupee was almost flat against the greenback on Thursday as public sector banks (PSBs) were mopping up the dollar inflows into the market. The domestic currency opened at 44.37/39 and moved between 44.33 and 44.35 ... More

HOUSING FINANCE

Banks warned on real estate exposure
The Reserve Bank of India has once again cautioned banks against excessive lending to the real estate sector. In a notification issued on Thursday, the RBI has directed banks that they should disburse loans involving real estate only after ... More

LIFE INSURANCE

Bajaj Allianz ties up with UAE Exchange
Bajaj Allianz Life Insurance Company Ltd has entered into a strategic tie up with UAE Exchange and Financial Services Ltd to distribute life insurance products and services across the country. Addressing a joint press conference here, Mr Sam ... More

`No major surprises for life insurance'
There are no major surprises for the life insurance industry. There were some minor benefits in FBT relief in superannuation and pension forming part of the Rs 1-lakh limit, says Mr Sam Ghosh, CEO, Bajaj Allianz. "We hope ... More

DEBT MARKET

Prices flat in bond market
In the bond market, traded volumes were under Rs 1,000 crore and prices were flat. Dealers said the uncertainty regarding whether the Rs 15,000 crore G-sec auction in March will take place has meant ... More

RBI & OTHER CENTRAL BANKS

Hallmarked jewellery a safer bet, says RBI
RBI has asked banks to show preferential treatment to hallmarked gold jewellery while granting advances against the security of such jewellery. As per a notification issued by RBI, hallmarking of gold jewellery ensures the quality of gold used ... More

PUBLIC SECTOR BANKS

SBH eyes capital market
State Bank of Hyderabad is looking to enter the capital market in the next fiscal. The Managing Director, Mr Amitabha Guha, told Business Line that the bank was governed by the Subsidiary Act and an amendment would be necessary to ... More

GOVT BONDS

FIIs unlikely to rush for G-Secs, corporate bonds
`Cap hike a small step in right direction' More

SHORT TERM INSTRUMENTS

No change in call rates
The call rate closed at the same level of 6.50/6.60 per cent. In the first one-day auction, the Reserve Bank of India (RBI) received no bids in the reverse repo and six bids for Rs 995 crore in the ... More

FIXED DEPOSITS