INSIGHT
Weak data unlikely to worry Greenspan
IT'S decision time again at the Federal Open Markets Committee (FOMC), the interest rate setting body of the US Federal Reserve. What it does and says has implications, not only for the American economy and financial markets, but also for the ... More

FOREX
Rupee firms up; bond prices fall
MUMBAI: The domestic currency ended Tuesday on a stronger note at 46.35/36 per dollar, strengthened by dollar inflows from a large foreign fund, said dealers. The rupee closed seven paise higher from the previous day's close at ... More

STOCKS
GTB scrip manipulation — SEBI probe to focus on old suspects
THE Securities and Exchange Board of India is specifically looking for clues on whether the 14 entities, once suspected to have been involved in stock price manipulation and prohibited by the market regulator (from December 31, 2002 till June 11, ... More

SOFTWARE
SDG warning system for Vijaya Bank
VIJAYA Bank has selected SDG Software Technologies to install BankAlert, an early warning system to detect money laundering, fraud and out-of-profile behaviour of customers and accounts. Mr Suheim Sheikh, Managing Director, SDG Software, said ... More

GENERAL INSURANCE
Insurance claim settled
MUMBAI: ICICI Lombard General Insurance Company settled on-account insurance claims worth Rs 1.2 crore on the spot to flood affected industrial units. These settlements are mostly in the SME sector in areas like Silvasa and Surat. ... More

Borewells won't drill a hole in AP ryots' pockets anymore
In case of failure of borewells, the drilling firms should claim compensation from insurance companies. More

PRIVATE BANKS
LVB in tie-up for NRI remittances
CHENNAI: Lakshmi Vilas Bank (LVB) entered into a tie-up with Wall Street Exchange Centre, LLC, Dubai, to provide NRIs the opportunity to remit rupees through select branches. LVB's press release said the service can be used once a customer ... More

PUBLIC SECTOR BANKS
Rs 6 cr okayed at loan mela in Coimbatore
COIMBATORE: Loan sanctions amounting to Rs 6 crore was made on the spot, at the one-day loan mela conducted by the Coimbatore Circle of Indian Bank. Bank sources said that there was a good response to the mela, in which 6 city branches ... More

Dwarakanagar IOB branch renovated
VISHAKAPATNAM: The renovated premises of the Dwarakanagar branch of the Indian Overseas Bank and the currency chest were inaugurated by Mr S.C Guptha, Chairman and Managing Director of the bank, here on Tuesday morning. Mr Guptha said ... More

CREDIT CARDS & DEBIT CARDS
Plastic money boosts retail spend
RETAIL spending in India is largely done by credit cards, according to a recent published report. They account for over 45 per cent of retail spend and are expected to touch 65 per cent over the next three to five years. This may well be true ... More

TRENDS
Tax spectre causes flight of NRI deposits
WITH less than a month to go before the tax on NRI deposits comes into force, some banks have reported steep erosion in the corpus of NRI deposits held in the country. Confirming the trend, Mr K.P. Padmakumar, Chairman of Federal Bank, said: ... More