The Hindu Business Line : Wednesday, June 13, 2007

FINANCIAL SERVICES
ICICI to sell 5.9% in new arm for Rs 2,650 cr
ICICI Bank will issue a 5.9 per cent stake in its proposed subsidiary (the holding company for its non-banking businesses) for Rs 2,650 crore to private investors. This would value the subsidiary at Rs 44,600 crore on a post-issue basis, said ... More

AWARDS & HONOURS
Asian banker excellence awards
HDFC Bank has bagged the Best Retail Bank in India award at the sixth Asian Banker Excellence in Retail Financial Services Awards function held in Shanghairecently. At the same programme, ICICI Bank won the inaugural ... More

FOREX
Seafood industry hit by rising rupee
Higher interest rate adds to the woes; industry unable to pass on burden to fishermen More

Rupee closes higher
The rupee strengthened by almost four to five paise on dollar selling by some foreign banks. The home currency opened at 40.77/79, touched an intra-day high of 40.66, to finally close at 40.75 against the previous close of ... More

FINANCIAL MARKETS
Quants improve understanding and risk management
Economics and finance are so quantitative these days that it begs the question, `did mathematics get into economics or is it the other way round'? It was bound to happen sooner or later. After Keynes, economics was already profusely applying ... More

PRIVATE BANKS
IndusInd Bank plans subsidiary for wealth management
Bank plans to launch wealth management subsidiary More

Karnataka Bank targets Rs 8,500-cr forex business
Karnataka Bank Ltd has targeted a forex business of Rs 8,500 crore during 2007-08. A bank release said here on Tuesday that Mr Anantakrishna, Chairman and Chief Executive Officer of Karnataka Bank Ltd, revealed this at the `Foreign Exchange ... More

FINANCIAL INSTITUTIONS
Women SHGs in the Nilgiris can bank on Repco, Exim Bank tie-up
Pact will help in marketing their products globally More

APSFC to lend Rs 132 cr to industries in 3 dists
Rs 900-cr loan target set for current fiscal More

GOVT BONDS
Bond prices shed 10 paise
Bond prices fell by around 10 paise as traders continued to sell in the market. The total traded volumes on the order matching system were Rs 2,780 crore (Rs 2,510 crore). Prices initially fell but recovered some of the losses as ... More

SHORT TERM INSTRUMENTS
Call rates remain unchanged
Call rates ended unchanged against the previous close of 3 per cent to 3.25 per cent. There were no repo bids in the first liquidity adjustment facility. In the first one-day reverse repo auction, the RBI received 27 bids for ... More

REGULATORY BODIES & RULINGS
Pension fund manager: Request for proposals issued
Time given till July 4 for short-listed entities to submit bids More

PEOPLE
Seshasayee joins IndusInd Bank
IndusInd Bank Ltd has informed the BSE that Mr R. Seshasayee has been appointed, with the approval of Reserve Bank of India, part-time non-executive chairman of the bank for a period of two years. Mr Seshasayee is the Managing Director of ... More

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