Financial Daily from THE HINDU group of publications
Wednesday, May 11, 2005
Financial Daily from THE HINDU group of publications Wednesday, May 11, 2005 |
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MONEY & BANKING FOREX Rupee tad firmer; bond prices up MUMBAI: The rupee reversed its trend of the last two sessions and appreciated against the dollar on higher inflows on Tuesday. It opened at 43.48 and ended the day at 43.44, up from Monday's close of 43.4750/4825. Dealers said that the ... More INFORMATION TECHNOLOGY South Indian Bank opens ATM KOTTAYAM: The 127th ATM of the South Indian Bank was inaugurated at the YMCA building in Kottayam on Tuesday by Mr K.M. Mathew, Chief Editor, Malayala Manorama. This is also the second ATM of the bank in Kottayam, said Mr Jose ... More NBFCS Magma Leasing growth HYDERABAD: Magma Leasing Ltd, a leading player in retail finance, has announced an impressive business growth in Andhra Pradesh for the fiscal ended March 2005. In a release on Tuesday, the company said that it disbursed Rs 131.64 crore ... More HOUSING FINANCE Central Bank home loans to have LIC cover CENTRAL Bank of India in association with Life Insurance Corporation of India has launched a housing loan scheme with life insurance cover equivalent to the amount of the outstanding loan, said a press release from the bank. The scheme is ... More PRIVATE BANKS 
IndusInd offers to manage NPAs for other banksThe fee will be far lower than the discounting rates of ARCs and on a case-to-case basis. More FOREIGN BANKS To meet RBI requirements — Bank of America to hike capital by $175 m BANK of America has committed additional capital of $175 million (around Rs 767 crore) into its India operations, said a press release from the bank. Out of this, $150 million (Rs 657 crore) will be Tier I capital, which the bank has already ... More FINANCIAL INSTITUTIONS Alternative payment security model — Lenders finalise norms for funding power projects WITH over ten major power projects in the pipeline planning to sell their generation to power trading utilities, financial institutions led by SBI, ICICI, IDBI and PFC have drawn out an alternative payment security model with a checklist of ... More
GOVT BONDS Reverse repo rate hike: A pre-emptive strike by RBI INFLATION is brewing. Last week, the WPI on a year-on-year basis for the latest reporting week rose to 5.91 per cent from 5.34 per cent previous. The latest data seem to bear out the RBI's fear about increasing inflationary pressures in the ... More
On-tap sale of State Govt loans for Rs 7,300 cr CREDIT MARKET With Parliament passing Aquaculture Bill — Banks, insurance cos may support shrimp farming SHRIMP farming is likely to receive a boost with Parliament passing the Coastal Aquaculture Authority Bill, 2005 last week. Banks and insurance companies, which have placed shrimp farming in the negative list, will now be able to support ... More CREDIT CARDS & DEBIT CARDS 
Debit card usage at point-of-sale risingJUST swipe it - this may well be the slogan that banks are now using to get customers to use debit cards. Earlier they tried to wean customers away from branch transactions to automated teller machines, (ATMs). Now banks are trying to ... More CO-OPERATIVES `Stakeholders participation must in sick co-ops revival' THE President of the Karnataka State Apex Cooperative Bank Ltd, Mr M.N. Rajendra Kumar, has said that it is essential to instil confidence among stakeholders while reviving the sick cooperative units in the State. Though Government's financial ... More Comments & Letters to the Editor to: bleditor@thehindu.co.in Subscribe to: Business Line |
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Looking back May. 1-May. 7 Forex reserves increase by $1 billion Bearish trend in bonds to continue LIC to focus on equities, may scale up exposure SBI joins race to tap mid-corporates HDFC net jumps 16.7 pc in Q4; to pay Rs 17/share IGF seeks probe into alleged price rigging in 3 banks |
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