The Hindu Business Line : Tuesday, November 04, 2008

MONEY & BANKING

INSIGHT: Dollar on escalator and rupee on ventilator – why?
“The government is concerned over the rapid appreciation of the rupee against the US dollar and the central bank may have to intervene if there is disorderly movement in the exchange rate.” This was the Finance Minister, ...

GOVT BONDS: Liquidity squeeze hits commercial paper issuances
FIIs, mutual funds, banks cutback investments. Bangalore, Nov. 3 Commercial paper (CP) issuances have become the first casualty of tight liquidity conditions in the ...

OVERSEAS INVESTMENTS: PNB scouting for overseas acquisitions
Buyout targets in Kazakhstan high on agenda. With the global financial meltdown driving down global banking sector valuations, state-owned Punjab National Bank (PNB) is looking at overseas acquisitions and is scouting across geographies for ...

EVENTS: ‘Indian banks are well regulated’
Confidence in the banking system is impacted by the ongoing turbulence in the financial world, according to Mr Ananthakrishna, Chairman and Chief Executive Officer of Karnataka Bank Ltd. Addressing the bank’s regional heads’ ...

GOVT BONDS: Govt to repurchase MSS bonds
The Reserve Bank of India (RBI) on Monday said it will repurchase dated securities — the 6.65 per cent Government Stock (GS) 2009 and the 5.48 per cent GS 2009 — on November 6 under the Market Stabilisation Scheme amounting to Rs ...

CREDIT CARDS & DEBIT CARDS: SBI Card issuances decline
Ties up with Dena Bank to launch new credit card. Mumbai, Nov. 3 Credit card major SBI Cards & Payments Services Pvt Ltd (SBI Card) on Monday said its card issuance has come down to nearly a third of its peak monthly issuance of one lakh ...

GENERAL INSURANCE: New India Assurance upbeat on health insurance segment
Kolkata, Nov. 3 Health insurance would be the second largest segment after motor insurance in the total general insurance business in the country in two years, Mr B. Chakrabarti, Chairman and Managing Director, The New India Assurance ...

INTEREST RATES: More banks cut lending rates
Mumbai/Kolkata, Nov. 3 Retail borrowers and India Inc may now be able to breathe a little easier. Public sector banks (PSBs), taking cue from last Saturday’s liquidity easing measures by the Reserve Bank of India (RBI), have started ...

TRADE & LABOUR UNIONS: Hike in FDI opposed
The General Insurance Officers’ All India Association has opposed the Central Government’s decision to increase foreign direct investment (FDI) in the insurance sector from the current 26 per cent to 49 per cent. Citing the collapse ...