The Hindu Business Line : Wednesday, December 05, 2007

FINANCIAL SERVICES
Muthoot to retail Reliance Money coins
Kochi, Dec. 4 Reliance Money has announced a distribution tie-up with Kerala-based Muthoot Group, a non banking finance company, for retailing its pure gold coins. The announcement was made by Mr Sudip Bandyopadhyay, Director and CEO of ... More

FOREX
Rising Re may impact long-term growth: Karnik
Hyderabad, Dec. 4 There is huge uncertainty on the growth prospects of Indian IT industry over the next four to five years if the rupee appreciation goes unabated, according to Mr Kiran Karnik, President, Nasscom.“While we see no ... More

Rupee firmer
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GENERAL INSURANCE
REL promoters keen on insurance cos stake
In case the latter decline to accept pref offer More

FINANCIAL MARKETS
‘Caution needed on opening up money markets’
Mumbai, Dec. 4 Premature liberalisation of money and bond markets can lead to large and volatile capital inflows, intensifying complications for macroeconomic and monetary management, said Dr Rakesh Mohan, Deputy Governor, Reserve Bank of ... More

RBI & OTHER CENTRAL BANKS
‘Success rate of IFC-supported private projects in India at 72%’
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PRIVATE BANKS
Centurion’s service for NRIs in Canada, UK
Mumbai, Dec. 4 Non-resident Indians in Canada and United Kingdom can get all information regarding account operations through ‘Post Box Service’ without incurring any courier charges. Centurion Bank of Punjab has launched ... More

Kotak Mahindra Bank branch
Hyderabad, Dec. 4 Kotak Mahindra Bank has opened its third branch in Hyderabad. With the new branch, the bank now operates five branches in Andhra Pradesh. While inaugurating the branch here, Mr K.V.S. Manian, Group Head, Retail Liabilities ... More

KVB ties up with IDBI Capital
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FOREIGN BANKS
ABN Amro to set up more ‘green’ branches
Ahmedabad model to be replicated all over the country More

INTEREST RATES
PNB, Oriental Bank revise FCNR (B) rates
Punjab National Bank (PNB) and Oriental Bank of Commerce (OBC) have revised interest rates on foreign currency non-resident (banks) deposit scheme with effect from December 1 this year.For both these banks, the interest rates on US ... More

GOVT BONDS
Bond market steady
The bond market was steady due to positive conditions such as improving liquidity, lack of new auctions of government papers and consistent oil price. Prices were stable as most traders preferred to maintain the status quo, said a bond dealer ... More

SHORT TERM INSTRUMENTS
Call rates at 7.60-7.70 %
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TRADE & LABOUR UNIONS
Bankers’ strike
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‘SBT staff strike uncalled for’
Thiruvananthapuram, Dec. 4 The strike by the employees and officers of State Bank of Travancore (SBT) was totally uncalled for as there is no proposal as of now for merger with State Bank of India,according to Mr Pradeep Shankar, Chief ... More

No moves yet on merger of other associates: SBH
Union sees need for big protest on the issue More

EVENTS
Policy of inclusive growth essential for Asia: Reddy
Mumbai, Dec. 4 Asian countries must adopt a policy of inclusive growth as two-thirds of the world’s desperately poor people live in Asia, said the Reserve Bank of India Governor, Dr Y. V. Reddy. Dr Reddy was speaking on “The Rise ... More