The Hindu Business Line : Tuesday, August 08, 2006

INSIGHT
Continental strike against inflation
The central banks' move is widely interpreted as an unexpected pre-emptive strike against inflation. More

FOREX
Rupee slips against the dollar
The rupee slipped to 46.58/59 against the dollar on Monday due to strong demand for dollars from several domestic oil companies. On Monday, the rupee opened strong at 46.42. However, sustained dollar buying pushed it lower to ... More

INSURANCE
New insurance ombudsman
Mr P.A. Chowdhury, IRS (Retd), has taken over as the new insurance ombudsman. He succeeds Mr G.R. Reddy, who has completed his three-year term. Mr Chowdhury is the former Chief Commissioner of Income-Tax, Andhra Pradesh. The insurance ombudsman ... More

FINANCIAL PERFORMANCE
Banks turn in good show on brisk credit offtake
Loan growth in Q1 averaged 30 pc; net interest margins stay flat More

GENERAL INSURANCE
ICICI Lombard ties up with AI
ICICI Lombard General Insurance Company has tied up with Air India to offer discounts to students travelling abroad for higher education. This tie up would enable students, who are having a valid Air India ticket, to avail themselves of the ... More

DEBT MARKET
Bonds rise as US yields ease
Bond prices rose as US yields came down because of the non-farm payroll data, which showed that there was not much growth in jobs. This could perhaps lead to a pause in the rate hikes by the US Federal Reserve, said analysts. ... More

INTEREST RATES
BoB, Andhra Bank boards ratify PLR hike
Oriental Bank partially stays home loan rate increase More

NON-PERFORMING ASSETS
Union Bank plans to reduce NPAs
To bring it down from Rs 2,098 crore to Rs 1,500 crore by this fiscal More

CREDIT MARKET
Banks in talks with FIs for take-out financing
Deposits turning expensive; credit growing at 31 pc More

SHORT TERM INSTRUMENTS
Call rates steady
Call rates were between 6.00 and 6.10 per cent. In the first one day reverse repo auction under LAF, the Reserve Bank of India received and accepted 23 bids amounting to Rs 28,735 crore and in the second one-day reverse repo ... More

FIXED DEPOSITS
FCNR deposit rates hikes
Karnataka Bank Ltd has revised interest rates on FCNR (B) deposits for various maturities with effect from August 1, according to a bank release here. The revised rates for one year to less than two years are 5.04 per cent (5.01 ... More

SIB's tax saving deposit scheme
South Indian Bank has launched a fixed deposit scheme, called `Sib Tax Gain 2006', which will offer tax savings options to customers. This follows the recent Government notification, which has included fixed deposits in the list of savings ... More

LVB hikes RFC $ deposit rates
While increasing the interest rate on RFC $ deposit for tenure of less than six months, the Karur-based Lakshmi Vilas Bank has reduced the interest rate on NRE and FCNR (B) deposits across all slabs with effect from August 1. ... More

SOCIETY & DEVELOPMENT
PNB tree plantation programme
Punjab National Bank (PNB) launched a tree plantation programme in co-ordination with Bhavan's Munshi Vidyashram, Thiruvankulam in Ernakulam district on Monday. The bank's Regional Manager, Mr R.S. Pillai, formally inaugurated ... More