MONEY & BANKING
PENSION PLANS
Ordinance on pension regulator issued
THE Government on Thursday promulgated an Ordinance that would pave the way for establishing the Pension Fund Regulatory and Development Authority (PFRDA). The PFRDA, which will be a statutory regulatory body, would undertake promotional, ...
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INSIGHT
2004: A mixed bag for banks
Going forward, a lot of events that unfold in 2005, will find their roots in the seeds sown in 2004.
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RBI's Currency and Finance Report — Some aspects of credit delivery ignored
The apex bank does not fight shy of telling the Government that "strict adherence to fiscal rules in letter and spirit will help stabilise inflation expectations and, in turn, keep inflation low and stable in the country while gradually providing in creasing flexibility to the apex bank".
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FOREX
Rupee down 2 paise; securities decline
MUMBAI: The rupee ended marginally weaker on Thursday on account of month-end dollar demand from oil companies. The rupee closed at 43.73/74 against the dollar. On Wednesday, the domestic currency had closed at 43.70/71. In the ...
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`FICCI favours use of forex reserves for infrastructural development'
THE new President of the Federation of Indian Chambers of Commerce and Industry (FICCI), Mr Onkar S. Kanwar, sees merit in the Planning Commission's proposal to use forex reserves for domestic infrastructural development. "We support the ...
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NBFCS
Minimum rating of `AA+' — `Eligible securities' status for RNBC investments
THE Reserve Bank of India said on Thursday that investments of Residuary Non-Banking Companies (RNBCs) in Certificates of Deposits and bonds and debentures of companies will be considered as eligible securities till the ratings are of the ...
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PRIVATE BANKS
Federal Bank launches online telephone bills payment facility
AS part of providing technology-driven convenience to its customers, Federal Bank has launched electronic bill payment facility through telephone in association with BSNL in the State. Fed e-Pay, which has been developed in-house by the bank, ...
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IPOS
Oriental Bank board okays public issue
THE board of directors of Oriental Bank of Commerce (OBC) has cleared a proposal for a public issue offering five crore equity shares at a premium to be determined by the book building route. The public issue will hit the market after seeking ...
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Cross Currency Rates
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