Business Daily from THE HINDU group of publications
Friday, June 12, 2009
ePaper | Mobile/PDA Version | Audio | Blogs
Business Daily from THE HINDU group of publications Friday, June 12, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
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MONEY & BANKING CREDIT MARKET: NBFCs reduce credit offtake from banks Access funds at lower costs from financial markets. In view of the low credit offtake, non-banking finance companies (NBFCs) are pre-paying ... FINANCIAL MARKETS: Financial sector may resist need for higher capital: Rakesh Mohan The former Reserve Bank of India Deputy Governor, Dr Rakesh Mohan, in a paper on `Emerging Contours of Financial Regulation : Challenges and Dynamics', cautions that increased levels of regulatory capital over the economic cycle, and extension ... TRADE & LABOUR UNIONS: Union opposes merger of public sector banks Thiruvananthapuram, June 11 The State Banks’ Staff Union (Kerala Circle) has flayed the Centre’s move to go ahead with the merger of public sector banks in ... FINANCIAL PERFORMANCE: CUB net dips in Q4 on higher tax provisions Chennai, June 11 Despite higher operating profits, City Union Bank has posted a lower net profit for the fourth quarter of the last financial year because of higher incidence of taxes. The bank’s net profit for January-March quarter ... INTEREST RATES: Srei Infra trims lending rate Srei Infrastructure Finance Ltd has reduced its benchmark rate by 100 basis points to 15 per cent (16 per cent), which will come into effect from July 1, according to a company press statement. The company has passed on the benefit of lower cost ... GOVT BONDS: Bond prices fall Bond prices fell on Thursday due to rising US bond yields and higher oil prices, said dealers. The uncertainty over the borrowing programme led to a pressure on the yields. The announcement of the auction cut-offs did not impact the market, said ... FOREX: Rupee falls 10 p against dollar The rupee fell by about 10 paise against the dollar tracking the overseas currency markets and the domestic equity market. The dollar appreciated against most overseas currencies such as euro, said a forex dealer with a private bank. The weak ... SHORT TERM INSTRUMENTS: Call rate ends flat The inter-bank call rate closed at 3.20-3.30 per cent against the previous close of 3.25-3.30 per cent. Under the liquidity adjustment facility (LAF), there were no bids in the one-day repo auction. In the reverse repo auction, the Reserve Bank ... GENERAL INSURANCE: Bharti AXA launches health cover Bharti AXA General Insurance has launched a health product, ‘Critical Illness Insurance’ policy. The policy would cover twenty critical illnesses and offer a five per cent discount on policy renewal premium for every claim-free year, ... COURTS/LEGAL ISSUES: Market stabilisation scheme: High Court dismisses PIL New Delhi, June 11 The Bombay High Court has dismissed a Public Interest Litigation (PIL) challenging the Constitutional validity of the Market Stabilisation Scheme ... CREDIT MARKET: Working group to review BPLR for transparent credit pricing Mumbai, June 11 The Reserve Bank of India (RBI) on Thursday said its working group on Benchmark Prime Lending Rate, besides reviewing the concept of BPLR and the extent of sub-BPLR lending, would suggest suitable benchmark for floating rate ... HUMAN RESOURCES: On the hunt ... LIFE INSURANCE: South Indian Bank to market LIC products Kochi, June 11 The Thrissur-based South Indian Bank on Thursday entered into a strategic agreement with Life Insurance Corporation of India for the distribution of life insurance products. An MoU was exchanged by Dr V. A. Joseph, MD and CEO ... SMALL SAVINGS: Higher inflows into Govt small savings schemes Mumbai, June 11 The common man continues to keep faith in the government administered small savings schemes. Inflows into government administered small savings were higher at Rs 1,43,668 crore in FY09 as against Rs 1,23,652 crore ... Comments & Letters to the Editor to: bleditor@thehindu.co.in Subscribe to: Business Line |
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