Business Daily from THE HINDU group of publications
Wednesday, September 09, 2009
ePaper | Mobile/PDA Version | Audio | Blogs
Business Daily from THE HINDU group of publications Wednesday, September 09, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
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MONEY & BANKING FOREIGN DIRECT INVESTMENT: Govt keen to clear Bill to hike insurance FDI to 49% Mumbai, Sept. 8 The Government is committed to clearing the Insurance Amendment Bill that will raise the FDI limit in the sector from 26 per cent to 49 per cent, said Mr Namo Narain Meena, Minister of State for Finance. He was addressing ... OUTLOOK: Interest rates have bottomed out, say bankers To rise gradually on the back of loan growth picking up. Mumbai, Sept. 8 Bankers appear to agree that interest rates have bottomed out in the economy and could rise in the coming months on the back of loan growth ... INSIGHT: Look no further than the Turner Review An analysis of the global financial crisis. The Turner Review is a classic analysis of what went wrong with the global financial system and what needs to be done to make sure it doesn’t happen ... TECHNICAL ANALYSIS: Rupee faces resistance at 48 The rupee reversed upward from the 49 mark to gain steadily over the past five sessions in tandem with the upward move in Indian equities. Expectation that buoyant stock market will attract greater foreign institutional funds was the ... MERGERS & ACQUISITIONS: B.K. Modi co acquires 51% stake in Wall Street Finance Open offer for another 20% at Rs 55.5 a share. Mumbai, Sept. 8 Another business house is looking to acquire forex and money transfer firm Wall Street Finance after the exit of Anil Ambani Group company Reliance ... OUTLOOK: SBI expects profits to grow 30-35% in Q2 State Bank of India expects its profits to grow at 30-35 per cent in the current quarter, said its Chairman, Mr O.P. Bhatt. Pointing out that the bank’s credit has been growing by Rs 5,000 crore every month since July, the chief of ... FINANCIAL SERVICES: Thrust on IT-based financial inclusion Thiruvananthapuram, Sept. 8 IT-based financial inclusion drive is now being promoted in Kerala, which is among the few States to achieve‘total financial inclusion’ as early as in ... HUMAN RESOURCES: KVGB to expand customer base The Dharwad-headquartered regional rural bank – Karnataka Vikas Grameen Bank (KVGB) – is planning to increase its customer base by 14 lakh in the next 15 ... RBI & OTHER CENTRAL BANKS: RBI to strengthen financial regulation In a bid to further strengthen financial regulation and supervision, the Reserve Bank of India is considering a host of measures, including issuing a discussion paper on prudential issues to sensitise banks to the risks inherent in their ... HOUSING FINANCE: Canara Bank trims home loan rates Bangalore, Sept. 8 Canara Bank has reduced home loan rates by 0.25 per centage points for all fresh home loans from September 10, on account of the festival season. The rates for all new home loans up to Rs 30 lakh would be 8 per cent for ... FINANCIAL SERVICES: Insurance agents resent plan to scrap commission Hyderabad, Sept. 8 The Life Insurance Agents Federation of India has taken exception to the idea of scrapping agent’s commission by 2011 as recommended by a committee on investor protection ... REGIONAL RURAL BANKS: SKS Micro customer base touches 50 lakh Hyderabad, Sept. 8 SKS Microfinance has crossed the 50-lakh mark in its customer base by providing loans ... DERIVATIVES MARKETS: Interest rate futures — Creating a vibrant market Buoyed by the success of the currency futures which has recorded an exponential growth of 1,500 per cent since its launch on August 29, 2008, many market practitioners believe that the interest rate futures market will also hit top gear when it ... PRIVATE BANKS: FedBank meet on lending norms ... PUBLIC SECTOR BANKS: SBT opens 500th ATM ...
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