MONEY & BANKING
INSIGHT
Default by stealth: The declining greenback
ECONOMIC history is full of stories of rulers bringing down the value of their debt by debasing their currencies. They repay their creditors in currency of lower intrinsic value than they borrowed in. A more ...
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LIFE INSURANCE
AMP Sanmar targets 300 per cent growth
AMP Sanmar, the life insurance joint venture of AMP, Australia, and the Chennai-based Sanmar group, is targeting a growth of 300 per cent during the current year. The projected growth is expected to be achieved from new markets as well as new ...
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DEBT MARKET
Volatile crude, stock market trends — Bond traders prefer to `wait and watch'
BONDS remained flat during the week in listless trading as dealers remained nervous over developments in the stock markets. Traders said that several foreign institutional investors were expected to make their exit, ahead of their year-end. ...
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PUBLIC SECTOR BANKS
Indian Bank evaluating options for consolidation
AIMED at inorganic growth for achieving the targets on business volumes, Indian Bank is currently evaluating certain options for consolidation and has identified 2-3 institutions in this connection, said the bank's Chairman and Managing ...
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Left parties to oppose PSBs merger plan
THE AITUC General Secretary and Member of Parliament, Mr Gurudas Dasgupta, said the Left parties would strongly oppose the Government's proposal to merge the public sector banks to evolve few monopoly banks. Addressing the annual conference of ...
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CREDIT MARKET
Regulatory regime soon for micro-credit: Chidambaram
THE Union Finance Minister, Mr P. Chidambaram, has said that the Government is working on a regulatory mechanism under which a part of the total credit available in the Indian financial system will be made available to micro-credit. Launching ...
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`Extending micro-credit thru' SHGs is cost-effective'
THE Chairman and Managing Director of Corporation Bank, Mr K. Cherian Varghese, has said that extending micro-credit through self-help groups is cost-effective, collateral-free and almost NPA-free. The recovery is close to 100 per cent because of ...
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SHORT TERM INSTRUMENTS
Rs 500-cr T-bills auction on Dec 1
THE Reserve Bank of India has announced that the auction of 91-day Government of India Treasury Bills for notified amount of Rs 500 crore would be conducted on December 1, under the regular auction calendar. The auction of Rs 1,500 crore under ...
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CO-OPERATIVES
`Panel report on co-op banks to be submitted in a fortnight'
THE report of Vaidyanathan Committee on co-operative banks is to be submitted to the Union Government within a fortnight, according to Mr V. Leeladhar, Deputy Governor, Reserve Bank of India. The central bank and the Government would "look into ...
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Cross Currency Rates
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