The Hindu Business Line : Saturday, December 17, 2005

CPI(M) opposes Pension Bill, wants reworking of provisions
THE CPI(M) today opposed any move to privatise the pension fund and sought restoration of 9.5 per cent interest on Employees' Provident Fund (EPF) and urged upon the Government not to abandon its responsibility of protecting the working ... More

FOREX

Forex reserves rise $845 m
THE country's foreign exchange reserves rose by $845 million for the week ended December 9, on the back of an increase in foreign currency assets. According to the Reserve Bank of India's Weekly Statistical Supplement, foreign exchange ... More

Rupee gains; bond prices fall
MUMBAI: The rupee gained against the US dollar as the greenback weakened against global currencies. On Friday, the rupee opened at 45.38 and fell to a low of 45.50 due to demand from oil companies and demand by importers. Speculator ... More

NBFCS

Cabinet nod for Newbridge FDI in Shriram Investments
THE Cabinet Committee on Economic Affairs has approved a FIPB-cleared proposal permitting Newbridge India Investments Ltd, Mauritius, and its sister companies to invest in Shriram Investments Ltd, Chennai, which is a non-banking finance ... More

HOUSING FINANCE

Repco Bank housing loans in Thiruvananathapuram
THIRUVANANTHAPURAM: Repco Home Finance, a subsidiary of the Repatriates Cooperative Finance and Development Bank (Repco) under the Union Ministry of Home Affairs, will be conducting a housing loan camp at its office here on S.S. Kovil Road ... More

LIFE INSURANCE

LIC not keen on taking over IFCI — IDBI may again emerge sole contender
THE Life Insurance Corporation of India (LIC) is not keen on taking over the ailing IFCI Ltd. LIC's disinclination would mean that Industrial Development Bank of India (IDBI) would once again emerge as the sole contender for taking over ... More

Shriram Life kicks off operations
SHRIRAM Life Insurance Company Ltd, the life insurance joint venture between the Chennai-based Shriram Group and the South African insurance major Sanlam, has announced the launch of its life insurance operations here on Friday. Addressing ... More

PRIVATE BANKS

Karnataka Bank opens 57th ATM
MANGALORE: Karnataka Bank Ltd opened its 57th ATM at Davangere in the State on Friday. A bank release said here that this is in pursuit of the bank's objective to increase the number of ATMs to 100 by the end of the current financial ... More

Karvy-DP calls for deeper probe into other IPO allotments
EVEN as the Indian stock markets were taken aback with the Yes Bank IPO allotment scam unearthed by the SEBI on Thursday, Karvy Depository Participant (DP) has said that such IPO allotment scams were not ruled out. The market regulator has ... More

PUBLIC SECTOR BANKS

Canara Bank in talks with UNEP on carbon credits
CANARA Bank has offered to negotiate for carbon credits on behalf of industrial and domestic solar power and water heater customers as part of its green energy financing initiative. Speaking to Business Line, Mr R. Prabha, General ... More

Allahabad Bank to finalise foreign partner for insurance venture soon
ALLAHABAD Bank expects to decide on which foreign partner to join hands with for its non-life insurance venture in a month, the bank's Chairman and Managing Director, Mr O.N. Singh, told Business Line. He said that there had been ... More

GOVT BONDS

IMD redemption may put pressure on liquidity: Reddy
THE redemption of the India Millennium Deposits (IMD) worth $5.5 billion, by State Bank of India, could cause some liquidity pressure, said Dr Y.V. Reddy, Governor, Reserve Bank of India. Speaking to newspersons at the sidelines of a seminar ... More

IPOS

NSDL to probe into Karvy-DP records for IPO abuse
THE National Securities Depository Ltd (NSDL) on Friday said its detailed inspection of the records of Karvy Stockbroking Ltd (Karvy-DP) would help in ascertaining whether the practice of opening multiple dematerialised accounts to misuse retail ... More

YES Bank clarification
YES Bank today said the SEBI findings on manipulation in its shares are part of the IPO allotment process and the "bank is not the specific subject of any scam." Referring to the SEBI order on manipulation in the YES Bank IPO shares, the Bank ... More

CO-OPERATIVES

Cabinet clears Rs 13,596-cr package for rural credit
THE Cabinet has cleared a Rs 13,596-crore revival package for revitalising the short-term rural co-operative credit structure in the country. The financial package would be available to rural credit institutions for wiping out their accumulated ... More

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