The Hindu Business Line : Wednesday, June 18, 2008

FOREX
Rupee rises marginally
The rupee rose slightly against the dollar on Tuesday tracking the upswing in the domestic stock market. The domestic currency opened at 42.92/93 and touched an intra-day high of 42.86. It then fell to 42.91/92 and closed at 42.88/89, against the ... More

TAXATION
Banks’ advance tax outgo signals robust Q1 results
SBI highest tax payer in April-June at Rs 663 cr More

Banking stocks rise on advance tax payment figures
Investors feel things are not that negative with the sector More

NBFCS
RBI tightens deposit norms for small NBFCs
Chennai, June 17 The Reserve Bank of India has asked small non banking financial companies (NBFCs) to curtail their public deposits. In a notification put out on Monday, the RBI has tightened the rules governing access to such public deposits. ... More

FINANCIAL POLICY
Inflation control: Limits of monetary policy
More

Another hike in key policy rates on the cards
Bankers see adverse impact on credit offtake More

RBI & OTHER CENTRAL BANKS
Sahara can accept deposits maturing before June 2011: RBI
Mumbai, June 17 Sahara India Financial Corporation (SIFCL) got a breather on Tuesday, with the Reserve Bank of India giving it the permission to accept new deposits which mature before June 30, 2011. The apex bank’s directive is ... More

PUBLIC SECTOR BANKS
‘SBH to continue focus on growth’
Hyderabad, June 17 Notwithstanding the prospects of a merger with its parent State Bank of India, State Bank of Hyderabad (SBH) will continue to focus on its growth by opening 50 new branches and 250 ATMs this year, according to Ms Renu ... More

FOREIGN BANKS
ABN Amro to scale up microfinance operations
Kolkata, June 17 ABN Amro Bank aims to double its microfinance operations in India at Rs 600 crore as on March 31, 2009, up from Rs 300 crore in March last. The bank plans to use the business correspondent model in order to scale up its ... More

GOVT BONDS
Bond yields ease
Bond yields eased on the comfort of slightly lower oil prices. Yields on the 10-year benchmark security were range-bound between 7.32 per cent and 7.38 per cent during the day. “Today’s gains were mainly due to short-term intra-day ... More

CREDIT MARKET
‘Banks should lend more to micro, small enterprises’
Bangalore, June 17 Banks should shed their conservatism in financing the micro and small enterprises and should supplement the Government’s initiative through the Credit Guarantee Fund Trust for the sector in risk mitigation of the ... More

SHORT TERM INSTRUMENTS
Call rates unchanged
Call rates ended unchanged at 8-8.10 per cent. In the one-day repo auction under the liquidity adjustment facility, the RBI received and accepted seven bids for Rs 5,015 crore. There were no bids in the reverse repo auction. In the CBLO market, ... More

MERGERS & ACQUISITIONS
Allahabad Bank has no M&A plans as of now
Kolkata, June 17 Allahabad Bank has no immediate plans either to go for acquisitions and mergers or to open foreign branches. Giving this information here, Mr A.C. Mahajan, Chief Managing Director of the bank, observed, “We are happy ... More

M-COMMERCE
Mobile phone as a local bank
NXP Semiconductor tool set to bring about big changes in rural areas More

EVENTS
‘Explore emerging business opportunities in rural areas’
More

CII to host 2-day meet on financing options
Chennai, June 17 The Confederation of Indian Industry (CII) is organising ‘The India Finance Forum (TIFF)’, a two-day conference focusing on recent trends and challenges in finance, at Chennai, on June 20-21. The theme of TIFF 2008 ... More