Banking and Finance
For maintaining financial stability -- Healthy financial institutions a prerequisite: BIS
THE Bank for International Settlements (BIS) has warned against ``a sharp and unwelcome turn away from a market-based approach to less desirable solutions'' unless policy measures could adequately trade off competing objectives with policy-makers ensurin
g that the global economy reaps the benefits of ``a more efficient production and financial structure''.
Call expected to stay above 7%
CALL money rates are expected to stay firm above the 7 per cent mark during the week, according to the weekly update on fixed income securities from ICICI Securities (I-Sec). The report said the OMO sale of 10.95 per cent 2011 security and 364-day T-bill
s is pre-empting any build-up of excess liquidity. The OMO sale window managed to mop up around Rs. 1,650 crores from the market during the last week. This takes the liquidity outflow over the past two weeks through OMO and on-tap sale to over Rs. 4,300
crores. The continued liquidity mop up by the RBI has further marred the sentiment of a market, which had already been apprehensive on the forex front and its consequences.
LAF debuts to lukewarm response
THE much-awaited Liquidity Adjustment Facility (LAF), which came into force today, wherein the interest rate for the repos as well as the reverse repos would be determined by the cut-off rates that would emerge from the auctions, received a mild response
from the market.
Nedungadi engages PwC to evolve business strategy
THE Kozhikode-based Nedungadi Bank has engaged the management consultancy firm PricewaterhouseCoopers (PwC) to evolve a bank-wise strategy and to consolidate its business planning programme.
Emirates Bank to set up India-focussed entity
THE UAE's Emirates Bank Group (EBG) is seeking to expand its presence in India by setting up an India-focussed entity that would harness the strengths of India as well as act as a conduit for NRI investment flows to crucial sectors such as infrastructure
, technology and knowledge-based projects.
