The Hindu Business Line : Friday, March 16, 2007

DIVIDEND ANNOUNCEMENT
Andhra Bank interim payout
Andhra Bank has informed the BombStock Exchange that the board of directors of the bank, at its meeting held on Thursday, has declared an interim dividend of 20 per cent. ... More

INSIGHT
Bank reality-check — Consolidate or perish
Indian banks have to take the merger route to face the global competition; but the process needs proper homework and planning to avoid the roadblocks and pitfalls. More

Some relief on the card
The ambit of protection for a customer ranges from receiving unsolicited telephone calls for marketing of products to use of coercion and threat by credit-card issuers or their agents to collect debts/dues. More

FOREX
Rupee gains marginally
The rupee gained marginally against the dollar on Thursday in line with the gains in the domestic stock market. The currency opened at 44.23/24 and closed at 44.20 against Wednesday's 44.2450/25. "The BSE was in the positive ... More

GENERAL INSURANCE
Bajaj Allianz, LVB in bancassurance deal
Bajaj Allianz General Insurance Company Ltd (BAGICL) and the private sector Lakshmi Vilas Bank Ltd have entered into a bancassurance agreement for distribution of non-life insurance products. The Chief Executive Officer of LVB, Mr R.M. Nayak, ... More

HUMAN RESOURCES
Insurance salary hikes highest in 2006: Report
Despite the hype about increase in wages in the IT industry, it is the insurance sector that has witnessed the highest salary hikes in 2006. As per the Hewitt Associates' annual salary increase survey of 600 companies and 21 industries, the ... More

RBI & OTHER CENTRAL BANKS
No bank loans for small savings instruments
The Reserve Bank of India has asked banks not to sanction loans for acquisition of or investments in small savings instruments, including Kisan Vikas Patras (KVP), as these loans do not confirm to the objectives of small savings scheme. "The ... More

PRIVATE BANKS
ICICI Bank may sell entire stake in NCDEX
ICICI Bank Ltd may sell its entire 8 per cent stake in the National Commodities and Derivatives Exchange Ltd (NCDEX) to the Atlanta-based Intercontinental Exchange Inc, which owns the New York Board of Trade (NYBoT). Confirming the deal, Mr ... More

FOREIGN BANKS
India important market: HSBC
HSBC India is now among the top 10 contributors to the group's global business and recorded the fastest growth among the emerging markets. HSBC India's profit grew at about 85 per cent last year. "No market is more important to us than India. ... More

GOVT BONDS
Bond prices fall by 18 paise
Bond prices dropped around 18 paise and yields rose by about three basis points on advance tax payments. "Around Rs 40,000 crore seem to have gone out of the system as advance tax outflows," said a dealer at a private bank. ... More

SHORT TERM INSTRUMENTS
Call rates tad higher
Call rates closed higher at 5.40-5.50 per cent (5.20-5.40). In the first one-day reverse repo auction, the RBI received fourteen bids for Rs 19,370 crore, while it accepted Rs 2,000 crore. In the second one-day reverse repo ... More

REGULATORY BODIES & RULINGS
IRDA fiat on discounts irks PSU insurers
Floor limit of 25% set for discounts on base tariffs More

ALLIANCES & JOINT VENTURES
LIC, Corporation Bank to expand co-operation
To tap new areas of reverse mortgage, financial inclusion More

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Looking back
Mar. 4-Mar. 10
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Bonds stable; trade volumes remain low

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Reinsurance ceding commissions shrink

Banks push States to close loans

Non-life premiums up 26 pc in January

Forex reserves up $1.5 b