The Hindu Business Line : Friday, February 08, 2008

FOREX
Strong rupee will boost cos’ profitability by 12-15%: Assocham
New Delhi, Feb. 7 Cheaper import cost of raw material and technology on the account of rupee appreciation is likely to boost the profitability of companies by 12-15 per cent, said the industry chamber Assocham. “The sectors that ... More

Rupee weakens marginally
The rupee weakened marginally against the greenback on Thursday, tracking the weakness in domestic stock markets. The home currency opened at 39.50/52 and fell to an intra-day low of 39.55/56 as the Sensex took a deep plunge and ended the day at ... More

INSURANCE
Portal soon to redress senior citizens’ plaints
Severe shortage of actuaries, says IRDA More

GENERAL INSURANCE
Reliance Life launches new plan
New Delhi, Feb. 7 Reliance Life Insurance, an Anil Dhirubhai Ambani group company, on Thursday announced the launch of Reliance Wealth+ Health Plan, which is a unit-linked plan coupled with health benefit.Announcing the features of the ... More

PRIVATE BANKS
SIB’s Kolkata regional office
The South Indian Bank has opened its regional office in Kolkata. The regional office was opened by Dr G.D. Gautama, Principal Secretary to the Government of West Bengal. With this, the number of regional offices of the bank will go up to 13, a ... More

PUBLIC SECTOR BANKS
BoI to raise about Rs 1,360 cr
Bank of India has said its board has approved a proposal to raise about Rs 1,360 crore through an issue of 3.78 crore equity shares. In a notice to the BSE today, the bank said it will issue the shares at a price of Rs 360 per share of face value ... More

GOVT BONDS
Bond market subdued
The bond market was subdued and yields moved in the narrow range of 7.47 and 7.49 per cent, in intra-day trade. But prices gained slightly as the cut-off yield of the 12.25 per cent-2010-government paper auction was on expected lines, said bond ... More

SHORT TERM INSTRUMENTS
Call rates close higher
The inter-bank call rates closed higher at 6.25-6.35 per cent , against the previous close of 6.10-6.20 per cent. In the first one-day reverse repo auction under Liquidity Adjustment Facility, the Reserve Bank of India received and accepted 24 ... More

REGULATORY BODIES & RULINGS
Investment part of health cover premium not tax exempt: IRDA
Mumbai, Feb. 7 Is the premium paid on the new unit-linked health insurance policies fully exempt from income tax? LIC, the first one to launch the scheme last week, claims that the entire premium to the scheme is eligible for tax ... More

TRADE & LABOUR UNIONS
Strike call by bank unions forum
Coimbatore, Feb. 7 The United Forum of Bank Unions (UFBU) has called upon its member units to strike work for two days on February 25 and 26 to express their protest against the delay in settlement of the long pending demands of the bank ... More

OUTLOOK
PSU insurers may report underwriting profits
Motor insurance pool helps stem losses; lower transfers to reserves More

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