The Hindu Business Line : Tuesday, June 02, 2009

MONEY & BANKING

NBFCS: NBFCs clamour for bank line of credit
Disbursements for financing commercial vehicles under stimulus package yet to take off. New Delhi, June 1 Disbursements to Non-Banking Finance Companies (NBFCs) for financing commercial vehicles under the stimulus package announced in January ...

INSIGHT: Exchange rates in developing Asia
To say that the world economy has been through a bumpy ride in the past two years would be a major understatement. The economic travails are particularly extreme in certain regions, such as eastern and central Europe, which were until recently ...

FINANCIAL INSTITUTIONS: Speedy implementation of core projects critical for economy: Srei
Lack of policy measures, multiplicity of taxes, among hurdles faced by NBFCs. Mumbai, June 1 Speedy implementation of infrastructure projects is critical for the economy and the hurdles faced by financing institutions in this sector need to be ...

CONSUMER FINANCE: Karnataka Bank, M&M unit tie up
Karnataka Bank Ltd has signed a memorandum of understanding (MoU) with Mahindra & Mahindra Ltd (Swaraj Division) for financing purchase of tractors, power tillers, vehicles and other farm equipment. A bank release said here on Monday ...

FOREX: Rupee breaches 47-mark
The rupee touched a six-month high buoyed by strong gains in the domestic equities market and a weak dollar. “Although there was a two-way movement, the strengthening bias for the rupee continues,” said a forex dealer with a ...

CORPORATE BONDS: Corp Bank raises Rs 500 cr
Corporation Bank has raised Rs 500 crore through Upper Tier II bonds. The bank informed the BSE on Monday that it has raised Upper Tier-II Bonds [Series (III) (4)] for Rs 500 crore and the same was allotted on May 28in demat mode. The tenor of ...

CORPORATE GOVERNANCE: Private insurers told to follow corporate governance norms applicable to listed entities
Mumbai, June 1 The Insurance Regulatory and Development Authority has issued comprehensive corporate governance guidelines for insurance companies, consolidating the various regulations notified by it from time to time, covering ...

TRADE & LABOUR UNIONS: Centre invites bank unions, IBA for talks on June 4
New Delhi, June 1 In a bid to avert a nationwide bank strike on June 12, the Centre has invited the United Forum of Bank Unions (UFBU) and the Indian Banks’ Association (IBA) for conciliatory ...

CORPORATE BONDS: Axis Bank to raise Rs 3,000 cr
Mumbai, June 1 Axis Bank on Monday said it will raise Rs 3,000 crore through debt in the current fiscal. Of this, Rs 500 crore will be Tier-I capital and the remaining Tier-II capital, the bank said in an announcement to the BSE.The bond ...

PEOPLE: Chakrabarty elected IBA Chairman
Mumbai, June 1 Dr K. C. Chakrabarty, Chairman and Managing Director, Punjab National Bank, was elected as Chairman of the Indian Banks’ Association, at the managing committee meeting here ...