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Friday, May 22, 2009
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MONEY & BANKING

RECOMMENDATION: Panel favours weekly banking bazaars in remote villages
Mumbai, May 21 Once-a-week banking facility on the lines of the ubiquitous ‘weekly bazaar/mandi’ in remote areas could turn into a reality in a couple of years if the recommendations of the High Level Committee ...

CREDIT MARKET: Banks gearing up to lend more this fiscal
Eye growth opportunities in infrastructure with a stable govt. Mumbai, May 21 Banks may revise upwards their lending targets for FY2009-2010 once the new government outlines its economic priorities through a Budget/Vote-on-Account, according to ...

GENERAL INSURANCE: Rs 400-cr cover is SET Max defence against ad revenue loss
In the event of rain and other unforeseen risks. Kolkata, May 21 Every time an IPL match gets washed out by rain, the broadcasting channel SET Max may raise an insurance claim of up to Rs 7 crore for loss of ...

FIXED DEPOSITS: Bankers see slowdown in retail deposits
As stock market looks up, interest rates soften. Kolkata, May 21 Bankers believe that the sudden spurt in the stock market and the softening of deposits rates might encourage retail investors to look at alternatives to bank deposits for parking ...

GENERAL INSURANCE: AP CM’s call for medical services
The Andhra Pradesh Chief Minister, Dr Y.S. Rajasekhara Reddy, has called for bringing Arogyasri (the universal health insurance scheme), 108 (emergency medical care) and 104 (medical advice over phone ) under one umbrella. Reviewing Arogyasri ...

OUTLOOK: Exim Bank loans for overseas expansion decline last fiscal
Mumbai, May 21 Export-Import Bank of India’s overseas investment programme declined by 42 per cent in 2008-09, as Indian corporates slowed down their foreign expansion and ...

BUSINESS MODELS: IRDA forms panel to review bancassurance model
Hyderabad, May 21 The Insurance Regulatory and Development Authority (IRDA) has constituted a committee to relook the regulatory framework on bancassurance intermediation ...

EVENTS: For rural reach
...

FINANCIAL PERFORMANCE: Chola MS net down at Rs 7 cr
Chennai, May 21 Cholamanadalam MS General Insurance reported a marginal fall in net profit to Rs 7 crore for 2008-09, from Rs 7.2 crore in the previous ...

GOVT BONDS: Bond prices fall
Bond prices fell by around 50 paise on Thursday ahead of the Rs 15,000-crore government securities auction tomorrow. The cut-off price for the buyback of government securities, which was below expectations, dampened market sentiments, said a ...

EVENTS: Seminar on inspection
...

FOREX: Rupee strengthens
...

SHORT TERM INSTRUMENTS: Call rates rise marginally
...





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Markets (May 21)
Nifty (at close)4,210.90(-59.40)
US Dollar (Buy/Sell)47.37/38
Brent crude (a bbl) Rs2,851
Gold (a gram) Rs1,345
Silver (a kg) Rs23,510

Cross Currency Rates

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May. 10-May. 16
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Forex reserves rise by $4 billion

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