The Hindu Business Line : Friday, January 08, 2010

MONEY & BANKING

DERIVATIVES MARKETS: Hedging pushes currency futures volumes to record $7 b
Hardening rupee and export-import activity contribute to the rush. The combined currency futures turnover on the NSE and MCX-SX reached a record high $7 billion (Rs 32,024 crore) on Thursday as exporters, importers, bullion and commodity ...

INTEREST RATES: Teaser rate home loans may spell trouble
Fixed for now, the floating rate segment could upset your calculations. There is a possibility that the recent home loan schemes offering fixed-cum-floating rates could lead to a ‘payment shock' ...

PERFORMANCE: Life insurers' losses mount 43% in FY09
LIC's profit increases, most private players hit. The life insurance industry posted a loss of Rs 4,878 crore in the financial year 2008-09, as against a loss of Rs 3,413 crore in 2007-08, according to data released by the Insurance Regulatory ...

INSIGHT: Autonomy and the RBI
A lot has been written about the effectiveness of the central bank in providing policy signals from time to time and steering market expectations on interest rates. The effectiveness of monetary policy would depend on the transparency of ...

CONSUMER FINANCE: Harley-Davidson, ICICI Bank tie up
Owning a Harley-Davidson might not be that hard now. At the Auto Expo on Thursday, Harley-Davidson India and ICICI Bank inked an MoU for a broad spectrum of banking services. Motorcycle enthusiasts will be able to avail themselves of ICICI ...

PUBLIC SECTOR BANKS: Unions protest lack of security at SBI branches
The State Bank Staff Union (SBSU) and State Bank of India Officers Association (SBIOA) have demanded that the bank management take adequate steps to ensure fool-proof security at the 400-odd branches ...

SMALL SAVINGS: Banks asked to popularise small-savings scheme
There is a need to popularise small-savings scheme among the rural populace, according to Dr N.K. ...

INSURANCE: Insurance industry grows 11.35% in April-Sept
The life insurance sector has grown by around 13 per cent in the first half of 2009-10, according to Insurance Regulatory and ...

PRIVATE BANKS: City Union Bank completes rights issue
Kumbakonam-headquartered City Union Bank completed its rights issue process ...

LIFE INSURANCE: Chola MS General, Star Health fall short on solvency ratio
Two non-life insurers, Cholamandalam MS General Insurance and Star Health Allied Insurance, fell short of meeting the stipulated solvency ratio of 1.5 in 2008-09, according to the Insurance Regulatory and Development Authority of India's ...

LIFE INSURANCE: Good returns likely even without stimulus, says Bajaj Allianz Life CIO
This year is expected to yield good returns from both equity and bond markets even if the economic stimulus packages are withdrawn, says Mr Sashi Krishnan, Chief Investment Officer, Bajaj Allianz Life ...

PRIVATE BANKS: TMB's new board meets
The 86 th and 87 th annual general meeting of the Tamilnad Mercantile Bank held at Tuticorin has paved the way for the constitution of a new, full-fledged board ...

NBFCS: Muthoot Fin hopes to double disbursals
...

FOREX: Rupee gains 15 paise against $
The rupee gained by about 15 paise against the dollar, but came off the day's highs due to dollar buying by public sector banks. The rupee opened at 45.80/82 and touched a high of 45.57/58. But at that point public sector banks bought ...

GENERAL INSURANCE: Mumbai attacks may cost insurers Rs 500 crore: IRDA
General insurers may suffer a loss of over Rs 500 crore due to the Mumbai terror attacks, according to the Insurance Regulatory and Development ...

GOVT BONDS: Bonds fall ahead of G-sec auctions
Bond prices fell by 40 paise on Thursday, ahead of the auction of government securities. The Reserve Bank of India is scheduled to auction Rs 10,000 crore of government securities on Friday. Higher US treasury yields and rising oil prices ...

PUBLIC SECTOR BANKS: SBT's online fund transfer facility
State Bank of Travancore has introduced ‘SBT Xpress Remit' online fund transfer facility. Dr K. Radhakrishnan, Chairman, Indian Space Research Organisation, formally launched the facility at a function held at the head office of the ...

REGULATORY BODIES & RULINGS: 8 insurers penalised
IRDA penalised eight insurers in the financial year 2008-09 for ...

SHORT TERM INSTRUMENTS: Call rate ends flat
The inter-bank call rate ended flat at 3.25-3.3 per cent on Thursday. Under the liquidity adjustment facility (LAF) conducted by the Reserve Bank of India, there were no bids in the one-day repo auction. In the reverse repo auction, there were ...

EVENTS: New for old
...

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Markets (Jan 7)

Nifty (at close)	5,263.10(-18.70)
US Dollar (Buy/Sell)	45.74/75
Brent crude (a bbl) Rs	3,780
Gold (a gram) Rs	1,575
Silver (a kg) Rs	28,690

Cross Currency Rates

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Other Top Stories
Govt refuses to bail out Maytas Properties

Kishore Biyani all set to launch telecom services

Autonomy and the RBI

Insurance industry grows 11.35% in April-Sept

Ginning units thrive after cotton monopoly scheme ends

Looking back
Dec. 27-Jan. 2
Bond yields retreat as CRR hike worries subside

Bank credit offtake continues to rise

After hefty discounts, general insurers see rise in premium rates