The Hindu Business Line : Friday, July 17, 2009

MONEY & BANKING

RBI & OTHER CENTRAL BANKS: Centre to borrow more in first half
New Delhi, July 16 The Centre has stepped up its first half year borrowing programme by nearly 25 per cent to Rs 2.99 lakh ...

FOREX: Import cover of forex reserves down to 10.3 months
Mumbai, July 16 The import cover of India’s foreign exchange reserves was down to 10.3 months as at March-end 2009 as against 14.4 months at March-end 2008, according to the Reserve Bank of India’s latest Report on Management ...

LIFE INSURANCE: Life insurers keep away from QIPs on valuation concerns
LIC rules out investing; private players selective. Mumbai, July 16 Companies coming out with Qualified Institutional Placements (QIPs) are finding very few takers among life insurance ...

FOREX: Rupee a tad lower in choppy trade
The rupee was choppy and moved in a tight range as it tracked the equities market. There were persistent bids for dollars at lower levels from importers, said a forex dealer with a public sector bank. “As the rupee had gained for the last ...

GENERAL INSURANCE: Oriental Insurance’s plans
Oriental Insurance company’s gross written premiums grew by 10 per cent in the first quarter of this fiscal to around Rs 1,180 crore. “During the April renewals, we were able to bring down the discounts,” said Mr M. ...

SHORT TERM INSTRUMENTS: Call rates close flat
The inter-bank call rate closed at 3.2-3.3 per cent, almost flat from the previous close of 3.25-3.3 per cent. Under the Liquidity Adjustment Facility conducted by the Reverse Bank of India, there were no bids in the one-day repo auction. In ...

FINANCIAL PERFORMANCE: SBT net zooms to Rs 180 cr in Q1
Thiruvananthapuram, July 16 State Bank of Travancore (SBT) has posted an over three-fold rise in net profit during the first quarter of the current year ended June 30, compared to the corresponding quarter of the ...

INSURANCE: It pays to compare
Coimbatore, July 16 It is not uncommon for an investor to compare the rates offered by various banks across time buckets before parking his/her savings. But do we compare the premium rates offered by various insurance companies — ...

CREDIT MARKET: FIEO worried over declining credit offtake
New Delhi, July 16 The Federation of Indian Export Organisations (FIEO) is concerned over the decline in non-food credit to Rs 3,58,494 crore in 2009 from Rs 4,88,719 crore in ...

GOVT BONDS: RBI’s auction plan pushes up bond prices
Mumbai, July 16 Bond prices rose by about 50 paise on Thursday as the Government announced details of its borrowing programme between July and ...

LIFE INSURANCE: SBI Life targets 50% growth in first premium income
Kochi, July 16 SBI Life Insurance is targeting a 50 per cent growth in the first premium income in the current fiscal against the Rs 5,300 crore collected last year. Though the company had targeted Rs 7,000 crore in 2008-09, it could not ...

PEOPLE: SBICAPS’ gets new chief
New Delhi, July 16 SBI Capital Markets Ltd (SBICAPS) has a new Chief Executive Officer and Managing Director in Mr S. ...