The Hindu Business Line : Tuesday, April 08, 2008

FOREX
Rupee ends marginally down
The rupee ended a tad lower on Monday at 39.97, against the previous close of 39.95, as the dollar inflows were moderate, said forex dealers. The rupee opened at 39.93/94 and saw steady trade for most of the day. The gains made by the stock ... More

GENERAL INSURANCE
General Insurance Council may get motor pool ownership
E&Y to submit its recommendations this week More

FINANCIAL POLICY
‘Liberalise entry norms, create small finance banks’
Chennai, April 7 The Raghuram Rajan Panel on financial sector reforms has recommended liberalising entry norms for banks. It says that the minimum norm of Rs 300 crore of capital would mean that only large players could enter. Only foreign ... More

DERIVATIVES MARKETS
Few takers for exotic forex derivatives now
Mumbai, April 7 Banks have seen a sharp slowdown in ‘exotic’ forex derivative deals in the last three months. While these structured products are specifically meant for risk management, many companies had been making profits from ... More

PUBLIC SECTOR BANKS
Reforms panel moots delinking banks from govt
For creation of independent committee to select board members More

United Bank biz crosses Rs 75,000 cr
United Bank of India’s business grew 26 per cent during 2007-08 and crossed Rs 75,000 crore as on March 2008, says a bank press release. The business grew from Rs 37,200 crore in March 2005 to Rs 75,300 crore in March 2008. Deposits grew by ... More

ASSET MANAGEMENT COMPANIES
Principal PNB ties up with South Indian Bank
Mumbai, April 7 Principal PNB AMC has entered into a distribution tie up with South Indian Bank, where the latter will distribute mutual fund products of Principal PNB AMC.According to the agreement, South Indian Bank will offer the ... More

GOVT BONDS
Bond prices decline
More

NON-PERFORMING ASSETS
Assets Care to buy NPAs against debentures
New Delhi, April 7 Assets Care Enterprise Ltd has become the first asset reconstruction company to purchase non-performing assets (NPAs) against debentures.The shareholders of Assets Care Enterprise (ACE) on Monday approved the ... More

SHORT TERM INSTRUMENTS
Call rates close higher
More

MORTGAGE
Union Bank launches reverse mortgage scheme
Pune, April 7 Union Bank of India’s plans for the year include opening of its first overseas branch in Hong Kong, launch of union M-Pay, and completion of centralised back office processing by June.Launching the Union reverse ... More

REGULATORY BODIES & RULINGS
‘Consolidate market regulation under SEBI’
Mumbai, April 7 The Committee on Financial Sector Reforms has recommended consolidation of all market regulation and supervision under SEBI and consolidation of all deposit-taking entities under the banking supervisor. At present, ... More

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Cross Currency Rates

Radar: Resources elsewhere
Food: Who pays the price (Video)

ADB World Outlook 2008

ADB's Outlook on India

Union Budget 2008-09

Railway Budget 2008-2009

Economic Survey 2007-2008

In Focus
People's car

P-Note blues

Other Top Stories
Private equity investment in Q1 amounts to $3.3 b

Celebrity endorsement has little influence on decisions to buy

‘Private equity deals may decline in 2008’

General Insurance Council may get motor pool ownership

Tax treatment for limited liability entities yet to be decided

On political volte face and changing equations

Big sales force to back Maruti’s D’zire in the market

SEBI to solve problems related to margins: Bhave

Looking back
Mar. 30-Apr. 5
Bonds weak as traders await policy cues to rein in inflation

FII inflows close to $15 b in Q4

Banks find it hard to get export bills rediscounted

IRFC borrowing cost rises to 9.3% in 2007-08

RBI wants counselling centres for borrowers

Promoters of insurance cos can do brokerage too: IRDA