The Hindu Business Line : Tuesday, October 07, 2008

MONEY & BANKING

RBI & OTHER CENTRAL BANKS: RBI cuts cash reserve ratio
Mumbai, Oct. 6 In a bid to ease the current cash crunch in the financial system, the Reserve Bank of India on Monday announced a half percentage point reduction in the cash reserve ratio (CRR) to 8.5 per cent from 9 per ...

FOREX: IT cos may report sequential topline growth in Q2
Falling rupee seen boosting revenue growth. New Delhi, Oct. 6 The Street expects the frontline Indian IT companies to post a sequential topline growth ranging between 5.5-9.5 per cent in the second quarter ended September 2008, aided by a sharp ...

CRR & BANK RATES: ‘An ad hoc measure to infuse liquidity, improve sentiment’
Bankers welcome cut in CRR. Chennai, Oct. 6 The RBI’s move to cut Cash Reserve Ratio (CRR) by 50 basis points is seen as an ad hoc measure to infuse liquidity into the system and ...

SOCIETY & DEVELOPMENT: Union Bank’s gesture
Union Bank of India has contributed Rs 1.25 crore to the Prime Minister’s National Relief Fund. This contribution would be used for providing succour and relief to the flood affected people in the States of Bihar and Uttar Pradesh. A ...

CRR & BANK RATES: No signal for low-interest regime, say economists
Thiruvananthapuram, Oct. 6 The CRR cut has evoked mixed response from leading ...

FIXED DEPOSITS: Banks luring high-cost deposits to tackle liquidity crunch
Chennai, Oct. 6 Banks seem to have been in some kind of liquidity crunch in the recent past. That’s why they have tried to attract more deposits into their coffers, hiking interest rates during the last one ...

FOREX: MCX Stock to begin currency futures today
Mumbai, Oct 6 The Financial Technologies-promoted MCX Stock Exchange (MCX SX) has received about 870 memberships, including 22 banks, for trading in currency futures which will go live ...

PENSION PLANS: New resolution for pension fund regulatory body’s functioning
New Delhi, Oct. 6 The Centre has infused fresh authority into the functioning of the interim Pension Fund Regulatory and Development Authority (PFRDA) by re-issuing a resolution which brought it on board in October ...

CRR & BANK RATES: Industry chambers hail move
New Delhi, Oct. 6 Industry chambers on Monday welcomed the cut in the Cash Reserve Ratio announced by the Reserve Bank ...

FOREX: P-Notes: SEBI move not to impact rupee
Mumbai, Oct. 6 SEBI’s move to remove restrictions on participatory notes will not have much of a stabilising impact on the depreciating rupee, said ...

LIFE INSURANCE: IDBI Fortis opens branches
A s part of its 100-branch plan, IDBI Fortis Life Insurance on Monday formally launched two of its branches in Kochi and Thiruvananthapuram. The company plans to open 6 branches in the State and 24 branches in the southern region in total. ...