The Hindu Business Line : Tuesday, July 03, 2007

FINANCIAL SERVICES
Reliance Money launches security token in online trading
Mumbai, July 2 Reliance Money, an Anil Dhirubhai Ambani Group venture, launched a ‘security token’ to counter the growing threat of hackers and phishers in online trading, according to Mr Sudeep Bandopadhyay, Director and Chief ... More

INSIGHT
The return of the debt spiral
As the world marks the completion of a decade after the 1997 financial crises, evidence mounts that global financial fragility is on the increase, argue C.P. Chandrasekhar and Jayati Ghosh. In particular, new instruments and new players in credit markets have triggered a credit spiral, increased risk and rendered such risk more systemic. More

FOREX
Rising rupee slows down export growth
Non-oil imports in May record growth of 42% More

Re gains 5 paise on dollar inflows
The rupee strengthened by 5 paise against the greenback on Monday backed by good dollar supplies into the market. The home currency opened at 40.66/67, saw an intra-day high of 40.62 before closing the day at 40.65/66. “There has been ... More

FINANCIAL PERFORMANCE
ABN Amro net rises 59% to Rs 385 cr
Change in revenue mix seems to be healthy: Sobti More

GENERAL INSURANCE
National Insurance retains Infosys account
Less medical claims, PML ratios weighed in favour of the IT co More

PRIVATE BANKS
Karnataka Bank raises Rs 120.5 cr
Karnataka Bank Ltd has raised Rs 120.5 crore through unsecured redeemable non-convertible subordinated (Tier-II) bonds. The bank informed the Bombay Stock Exchange on Monday that the issue of unsecured redeemable non-convertible subordinated ... More

Centurion Bank raising capital
Centurion Bank of Punjab plans to raise Tier-I capital of about Rs 500 crore through qualified institutional placement of equity shares. This approval is subject to shareholder, regulatory and statutory approvals as applicable, said a statement ... More

PUBLIC SECTOR BANKS
Vijaya Bank seeks larger equity role in insurance venture
Plans to take over Berger Paints stake in Principal-PNB Life More

FCNR (B) deposit rates raised
Union Bank of India, Bank of India and State Bank of India have revised the interest rates on FCNR (B) and NRE (rupee) term deposits effective July 1, 2007. In the case of FCNR (B) deposits, the interest rate on dollar deposits of various tenures ... More

GOVT BONDS
Bond prices up on liquidity hopes
Bond prices went up by almost 46 paise while the 10-year yield fell by almost six basis points on hopes of comfortable liquidity in the banking system.“There was no market stabilisation auction announced by RBI and also the notified ... More

FIXED DEPOSITS
SBH’s new term deposit scheme
State Bank of Hyderabad (SBH) has launched a new term deposit scheme, SBH 400, from today to August 31, 2007. The term deposit would yield 9.5 per cent (0.5 per cent extra for senior citizens) interest per annum. Further, the bank will also ... More

MERGERS & ACQUISITIONS
Punjab National Bank mulls merging arm
Chennai, July 2 Punjab National Bank is considering merging its subsidiary, PNB Gilts, with itself, the bank’s Chairman and Managing Director, Dr K.C. Chakrabarty, told Business Line today.The bank feels that while ... More

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Cross Currency Rates

Union Budget 2007-08

Railway Budget 2007-2008

Economic Survey 2006-2007

Top Stories
Ceat plans to rope in consultant for radial foray

Bajaj 2-wheeler Q1 sales down 14%

Tax circular on shares does not provide any objective guidelines

Demutualisation: DSE gets 7 ‘expression of interest’ letters

Wadhwan group eyes southern market

The return of the debt spiral

China to cut tax rebates on metal products exports

National Insurance retains Infosys account

‘DGH figures not contrary to companies numbers’

Looking back
Jun. 24-Jun. 30
Bonds advance on reserve money accretion, waning inflation

Follow-on offer not to impact ICICI Bank weightage

On purchasing power parity, the rupee is undervalued substantially

`Reverse mortgage scheme will take time to gain acceptance'

Central banks' nightmare: Liquidity and leverage

Banks raising Tier-II capital funds at over 10%

RBI mulls creating ‘housing stat index’