The Hindu Business Line : Tuesday, August 04, 2009

MONEY & BANKING

DEBT MARKET: Banks shifting to short-term papers
High yield spreads, shrinking ‘bid to cover’ ratios seen. Bangalore, Aug. 3 Banks have begun derisking their investment portfolio. This is reflected in a sharp increase in medium and ...

GOVT BONDS: Bonds down on auction concerns
The sentiment in the bond market was negative as the market was trying to come to terms with the huge supply of papers. The price on the 10-year benchmark paper fell by about 25 paise during the day. However, it recovered towards close and ...

FOREX: Rupee gains 30 paise
The rupee gained by around 30 paise against the dollar on Monday , as the pound and the euro registered gains against the greenback. The domestic currency opened at 47.82 and weakened to touch an intra-day low of 47.93. It strengthened to close ...

FINANCIAL PERFORMANCE: City Union Bank Q1 net up 20%
City Union Bank’s net profits for the first quarter of the current fiscal rose 20 per cent to Rs 31.55 crore. The growth in profits came on the back of a 24 per cent growth in interest income at Rs 228 crore. While advances grew 22 per cent ...

SHORT TERM INSTRUMENTS: Call rate unchanged
The inter-bank call rate ended at 3.25-3.20 per cent, same as the previous close. Under the Liquidity Adjustment Facility (LAF) conducted by the Reserve Bank of India, there were no bids in the one-day repo auction. In the reverse repo ...

PEOPLE: New GMs at Corporation Bank
Two Deputy General Managers of Corporation Bank – Mr Kundapur Giridhar Shenoy and Mr B. Lakshmi Narayana – have been promoted as General Managers of the bank, says a bank release here. — ...

LIFE INSURANCE: ‘Exclude mortality charges from overall cap on ULIPs’
Life insurers have asked the insurance regulator to exclude mortality charges from the overall cap on unit linked insurance polices ...

GENERAL INSURANCE: ICICI Lombard eyes social sector schemes to boost biz
Targets 15% revenue from Govt insurance plans. Kolkata, Aug. 3 ICICI Lombard proposes to boost business from social sector schemes in view of the Union Government’s focus on ...

CO-OPERATIVES: Madurai co-ops to be revived
The co-operative societies here are being revived. The National Bank for Agriculture and Rural Development (Nabard) has initiated the steps in accordance with Prof. A. Vaidynathan Committee recommendations, agreed to by the State Government ...

INTEREST RATES: `Interest rates may climb up after Dec'
Mr Deosthalee said stated that the wholesale debt market in India the country lacks depth, as a mature debt market should have debt with different maturity ...

GOVT BONDS: Bonds down on auction concerns
...

ALLIANCES & JOINT VENTURES: Canara Bank, Crisil in pact for rating MSMEs
Bangalore, Aug. 3 Canara Bank has entered into a memorandum of understanding (MoU) with Crisil ...

TRADE & LABOUR UNIONS: Bank unions plan indefinite strike
The United Forum of Bank Unions (UFBU) may go on a follow-up indefinite strike if the Indian Banks’ Association (IBA) fails to expedite wage settlement talks, a senior office-bearer ...

HUMAN RESOURCES: ‘Professionalism must for insurance training institutes’
Insurance institutes that train agents should self-regulate to maintain professionalism, said Mr A. Giridhar, Executive Director, Insurance Regulatory and Development ...

PRIVATE BANKS: Axis Bank branch in Ramagundam
Axis Bank has opened its branch in Ramagundam in Karimnagar district of Andhra Pradesh on Monday. “This marks a yet another step towards our extensive consumer banking focus,” Mr KVSM Sudhakar, Senior Vice-President, Business ...