The Hindu Business Line : Wednesday, September 17, 2008

MONEY & BANKING

INVESTMENT BANKING: Indian banks’ Lehman exposure negligible
ICICI Bank has provided $12 m against investments by UK subsidiary. Mumbai, Sept. 16 While the collapse of the US-based investment bank Lehman Brothers may not have a direct impact on Indian banks, some of them may face marginal losses due to ...

RBI & OTHER CENTRAL BANKS: RBI slaps curbs on Lehman’s India arms
Mumbai, Sept. 16 The Reserve Bank of India has issued a notice placing restrictions on the activities of the Indian subsidiaries of Lehman ...

FINANCIAL MARKETS: Rupee crashes by 90 paise
Mumbai, Sept. 16 The turbulence in the global equity markets echoed not only in the domestic equity markets, but also in the currency market, with the rupee crashing by 90 paise in intra-day trade on ...

RBI & OTHER CENTRAL BANKS: RBI moves in to ease pressure on markets
Aims to infuse liquidity, draw forex. Mumbai, Sept 16 As a response to the developments in the global financial markets, the Reserve Bank of India has announced a series of measures aimed at increasing liquidity and attracting foreign ...

INSIGHT: When banks believed their lies
It seems to be occurring with monotonous regularity – crises and bailouts. It is high time Governments and central banks ask themselves how much longer and often they want economies and financial markets to be periodically held hostage ...

FINANCIAL SERVICES: Reliance Capital to invest Rs 2,000 cr in insurance biz
Seeks approval to enter home loan sector, expand asset management. Mumbai, Sept. 16 Reliance Capital, part of the Reliance ADAG group, would invest up to Rs 2,000 crore over the next three to five years in its insurance business, and also enter ...

TECHNICAL ANALYSIS: Rupee weakness to continue
The Indian currency took five-and-half years to appreciate from 49 to 39 between May 2002 and January 2008. But it took just nine months to retrace 70 per cent of this move as the rupee closed near the 47-mark on Tuesday. The currency is down 20 ...

INSIGHT: How acute is the US real estate crisis?
Years ago, when I was a doctoral student in Minneapolis, my adviser, an ex-naval person, taught me the term “going to hell in a hand-basket.” I never thought that I would have to use that term in relation to the US, but it is apposite ...

INSIGHT: Banking on big change
The Indian banking system seldom had it so good as today with the Reserve Bank of India (RBI) — the custodian of industry and the central bank — proclaiming that “a well calibrated and gradual approach to banking sector reforms ...

GOVT BONDS: Bond prices gain on Fed hopes
Bond prices gained by 42 paise on expectation that the US Federal Reserve will cut interest rates, said bond dealers. US Federal Reserve is expected to cut rates by 50 basis points, said a dealer with a private bank. There is a huge ...

HOUSING FINANCE: SBI Home Loan Mahotsav
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PUBLIC SECTOR BANKS: Corporation Bank to raise Rs 1,600 cr
The board of Corporation Bank has approved raising of Rs 1,600 crore through bonds. The bank informed the BSE on Tuesday that the board of directors, at its meeting held on September 16, has approved the proposal for raising of tier I ...

PUBLIC SECTOR BANKS: BoM awaits nod for pensioners’ branch
Pune, Sept. 16 Bank of Maharashtra (BoM) has approached the Reserve Bank of India for permission to launch a special branch dedicated to serving pensioners, and is also considering introducing measures such as mobile biometric ATMs to ...

CORPORATE BONDS: Vizag corpn to float bonds soon
Visakhapatnam, Sept. 16 The Greater Visakhapatnam Municipal Corporation is getting ready to float bonds worth Rs 100 crore by the end of the month to finance some of its projects taken under the Jawaharlal Nehru National Urban Renewal ...

FOREX: NSE currency futures trade soars close to one lakh contracts
Mumbai, Sept. 16 Currency futures trade on NSE saw trades of nearly one lakh contracts, the highest since its launch last month. “Currency futures saw a trading volume of Rs 456.88 crore arising out of 97,642 contracts,” said an ...

PRIVATE BANKS: SIB looks to enhance low-cost deposits base
Coimbatore, Sept. 16 Having surpassed its business target over the last three consecutive years, South Indian Bank has drawn up a five- year plan to drive its total business to Rs 75,000 crore ...

ACCOUNTING STANDARDS: Indian cos, banks need to move faster on IFRS: KPMG
Chennai, Sept. 16 The Indian banking sector will be among those most affected by the impending changeover to the International Financial Reporting Standards (IFRS) in 2011. Public sector banks are moving towards adopting those standards ...

GENERAL INSURANCE: IRDA asks for status reports from Tata AIG ventures
Mumbai, Sept. 16 The Insurance Regulatory and Development Authority has asked the two Indian insurance joint ventures between the Tata Group and American International Group (AIG) of the US to submit reports on their operational status. ...