The Hindu Business Line : Wednesday, February 20, 2008

FINANCIAL SERVICES
NEFT facility not available to all banks
Despite the Reserve Bank of India’s wish to have all large payments in the banking system routed through electronic mode, i.e. either Real Time Gross Settlement (RTGS) or National Electronic Fund Transfer (NEFT) or both, it is learnt ... More

BUDGET
Insurers seek separate tax sops for long-term savings
Hyderabad, Feb. 19 A separate tax relief for long-term savings, incentives for health insurance and greater enablement of investments in infrastructure top the wish-list of insurance industry for the Union Budget 2008-09.At present the ... More

FOREX
Spot rupee slides; dollar sticky in the forwards
FII outflows seen putting pressure on domestic currency More

INSURANCE
Follow proposal norms, IRDA tells insurers
Hyderabad, Feb. 19 The Insurance Regulatory and Development Authority (IRDA) has asked the insurers to strictly adhere to norms pertaining to proposal for insurance.The authority has advised all insurers to strictly follow the ... More

HUMAN RESOURCES
Bank of Baroda seeks variable pay, incentives for officers
Mumbai, Feb. 19 Bank of Baroda wants to have a separate salary structure for its officers. The bank is trying to be out of the industry-level-wage negotiation with the unions as it wants to introduce incentives and variable pay. If the ... More

RBI & OTHER CENTRAL BANKS
Banks told to reschedule poultry loans
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PRIVATE BANKS
Federal Bank’s new branch opened
The 566th branch of Federal Bank, a private sector bank, was inaugurated by Delhi’s Finance Minister, Dr A.K. Walia, here on Tuesday at Rajouri Garden. This is the 19th branch for Federal Bank in the National Capital Region (NCR). Also ... More

GOVT BONDS
Bonds fall as uncertainty continues
Bond prices fell as uncertainty over oil bonds being given SLR status continued. Expectations that Government borrowing might be higher in the next fiscal, also added to the worry, said dealers. “There is not much incentive to hold bonds ... More

NON-PERFORMING ASSETS
Net NPA of public sector banks declines as of Dec
New Delhi, Feb. 19 Net non-performing assets (NPA) of the public sector banks have declined in absolute terms to Rs 16,433 crore as on end-December 2007 from a level of Rs 16,663 crore as on end-September 2007. The net NPA level of Rs ... More

CREDIT MARKET
Oriental Bank east zone to boost advances
More

‘Specialised financial institution needed for unorganised sector’
Mangalore, Feb. 19 There is need for specialised financial institutions for the welfare of the unorganised sector, according to Dr Arjun K. Sengupta, Chairman of the National Commission for Enterprises in the Unorganised Sector. ... More

SHORT TERM INSTRUMENTS
Call rates edge higher
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CREDIT CARDS & DEBIT CARDS
RCom, HDFC Bank launch virtual credit card
Mumbai, Feb. 19 Reliance Communications and HDFC Bank have partnered to launch a virtual credit card on the mobile phone. Christened ‘Reliance mPay,’ the credit card will be made available to all Reliance Mobile users who ... More

TRADE & LABOUR UNIONS
Bank strike: Conciliatory talks on Friday
New Delhi, Feb. 19 A final decision on whether bank employees would go ahead with their planned two-day strike on February 25 and 26 is likely to emerge only after Friday, the day on which conciliatory talks are now proposed to be held ... More

OUTLOOK
Motor pool may end year with profits
Despite lower yield compared to rest of non-life segment More