The Hindu Business Line : Wednesday, December 03, 2008

MONEY & BANKING

CREDIT MARKET: Bond data show banks are reluctant to lend
Yield curve for T-bills and 10-year paper flat; downturn indicated. Mumbai, Dec. 2 Indications of an economic uncertainty/downturn are clearly being thrown up in the Government Securities market. This is underscored by the fact that the 91-days ...

FINANCIAL MARKETS: Forex reserves: Sinking feeling?
India’s assiduously built foreign exchange reserves of $320 billion have melted down to around $240 billion just a few months – a huge drop of $80 billion and ...

CORPORATE BONDS: Oil cos allowed to sell bonds to RBI
But will get only 50% in dollars. Mumbai, Dec.2 IndianOil, Hindustan Petroleum Corporation and Bharat Petroleum Corporation have been allowed to sell their oil bonds to the Reserve Bank of India (as part of its special market operations) and ...

PUBLIC SECTOR BANKS: Oceanaa in pact for shrimp hatchery
Tripartite deal with IOB, farmers. Chennai, Dec. 2 Oceanaa Group’s Oceanic Edibles International Ltd has signed a tripartite pact with Indian Overseas Bank and a group of farmers for shrimp ...

FOREX: Rupee recovers on RBI intervention
The rupee touched a record low of 50.60 against the dollar during intra-day trade on Tuesday, but recovered to close higher due to intervention by the central bank. The rupee opened lower at 50.50/52 and closed at 50.12/13, about 16 paise ...

GOVT BONDS: Bond prices gain
Bond prices gained by around 40 paise as bullish sentiment prevailed in the government securities market. With crude prices falling to $47 a barrel, there was a lot of buying interest in the market, said a dealer with a private bank. ...

SHORT TERM INSTRUMENTS: Call rates close steady
Call rates closed at 6.10-6.20 per cent, as against the previous close of 6.10-6.15 per cent. In the one-day repo auction under the first liquidity adjustment facility (LAF), there were no bids. In the reverse repo auction, the RBI received ...

PUBLIC SECTOR BANKS: BoI looks to address SME issues
Bank of India is in the process of conducting SME Customer Meet across cities to get a feedback about their problems which centres around power disruptions and demand compression. SMEs, bankers say, are asking for a moratorium on term loans ...

PUBLIC SECTOR BANKS: United Bank eyes 20% growth in biz
Kolkata, Dec. 2 United Bank of India (UBI) targets 20 per cent growth in business in 2008-09 over Rs 75,000 crore achieved in ...

PUBLIC SECTOR BANKS: Vijaya Bank seeks Rs 1,800 cr from Govt
Vijaya Bank has sought Rs 1,800 crore from the Government to increase its Capital to Risk Weighted Assets Ratio (CRAR) to over 12 per cent from the existing 10.41 ...

DERIVATIVES MARKETS: Currency derivatives daily turnover at $225 m
Kolkata, Dec. 2 Exchange traded currency derivatives volumes are taking ...

FIXED DEPOSITS: TMB hikes deposit rates
Madurai, Dec. 2 Tamilnad Mercantile Bank has hiked the interest rates on its domestic term deposits for the maturity period of three years by 50 basis points, effective from December 1. The interest rate has been increased from 11 per cent ...

LIFE INSURANCE: Birla Sun Life CEO quits
Mumbai, Dec. 2 Mr Vikram Mehmi has resigned as the President and CEO of Birla Sun Life ...

PUBLIC SECTOR BANKS: SBT counter at Sabarimala
State Bank of Travancore has opened an extension counter with core banking facilities at Malikappuram Buildings in Sabarimala. The counter offers facilities such as accepting deposits, withdrawals, remittances of funds to other banks and issue ...