The Hindu Business Line : Wednesday, August 23, 2006

INSIGHT
US economy: Market too pessimistic?
If the oil cloud lifts — and there is no reason to think the chances are worse than 50-50 — the entire outlook changes. With stable or falling inflation and better growth prospects, rates can stay and the steep yield curve inversion will correct. More

FOREX
ECBs in June top $ 1 b
As many as 72 Indian companies borrowed $1.05 billion (about Rs 4,600 crore) overseas during June 2006, according to data released by the Reserve Bank of India. These companies have borrowed about $4.4 billion or Rs 20,000 crore ... More

Rupee weakens against dollar
The rupee slipped against the US dollar on Tuesday due to demand for the greenback from domestic oil companies. "Oil prices rose today, due to which oil companies were seen buying dollars," said a dealer at a private bank. ... More

LIFE INSURANCE
PNB cover to home loan borrowers
Punjab National Bank (PNB) has entered into a tie-up with Tata AIG Life Insurance to offer insurance covers to home loan borrowers. A new product — `Mortgage Reducing Term Assurance'— has been launched by PNB for ... More

Bharti AXA Life debuts with ULIPs
To tap customer base of Bharti Airtel More

RBI & OTHER CENTRAL BANKS
RBI panel for SME debt fund for North-East
The Small Industries and Development Bank of India (SIDBI), in association with major banks, has been asked to set up a dedicated SME debt fund for the northeast region. Under this fund, SIDBI and the banks will jointly co-finance up to 25 per ... More

INTEREST RATES
Govt not micro-managing interest rates: FM
Govt stake in PSBs not to fall below 51 pc More

GOVT BONDS
Bond prices range-bound
Bond prices were range-bound as market participants were wary of taking large positions. The total traded volume stood at Rs 2,480 crore on the order-matching system. Dealers said that the rise in the price of global crude and ... More

SHORT TERM INSTRUMENTS
Call rates dip marginally
Call rates were between 6.00 and 6.10 per cent against the Monday's rates of 6.05-6.15 per cent. In the first one-day reverse repo auction under LAF, the Reserve Bank of India received and accepted 16 bids amounting to Rs 19,220 ... More

CREDIT CARDS & DEBIT CARDS
UTI Bank debit card for SMEs
UTI Bank in association with MasterCard launched an international debit card for small and medium enterprises and self-employed professionals. The card has a five-year validity and a daily Point of Sales usage limit of Rs 2 lakh, ... More

TRADE & LABOUR UNIONS
RBI employees defer strike
The Reserve Bank of India employees have deferred their strike, after the management said it would take up the employees' demands with the Government. The strike has been deferred till September 10, said Mr T.N. Ganapathy, General Secretary, All ... More

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Looking back
Aug. 13-Aug. 19
Bonds rally; inflation fears weigh on bankers

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Privatisation with market, price protection?

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Cos borrowed $ 3b overseas in April, May