The Hindu Business Line : Wednesday, May 14, 2008

FOREX
Rupee tad lower
The rupee slipped slightly against the greenback as banks continued to go long on dollars. However, the currency trimmed some of its losses during the day as exporters and foreign banks sold dollars. The domestic currency opened at 41.99 and ... More

TECHNICAL ANALYSIS
Rupee near technical support
Rupee continued its steep decline against the dollar spurred by the relentless strength in crude prices, that have now scaled $126. Industrial production expanding at the slowest pace in six years only exacerbated the negative sentiment in ... More

GENERAL INSURANCE
SBI signs pact with Insurance Australia
Mumbai, May 13 State Bank of India on Tuesday signed an agreement with Insurance Australia Group (IAG) of Australia for its general insurance business. The venture is likely to start operations in this fiscal, subject to regulatory ... More

FINANCIAL POLICY
Fall in Govt’s RBI borrowing: An accounting illusion
In an incisive piece in the Business Line on May 12, the former RBI Governor, Mr S. Venkitaramanan, refers to ‘Macroeconomic and Monetary Developments in 2007-8’ (released ahead of the Annual Credit Policy), ... More

SMALL SAVINGS
Scindia seeks hike in interest rates of small savings schemes
The Minister of State for Communications and IT, Mr Jyotiraditya Scindia, has shot-off a letter to the Finance Minister seeking an upward revision in interest rates of small savings schemes, to arrest the decline in deposits for post office ... More

HUMAN RESOURCES
YES Bank hires management pros
YES Bank has inducted over 60 management professionals from 21 premier B-schools across India and Asia to strengthen its middle level management team. The numbers recruited this year is said to be two-and-a-half times more than that of the ... More

PRIVATE BANKS
TODAY'S PICK (Latest Audio: English/Tamil)
IndusInd Bank (Rs 85.25): Sell
We recommend a sell in IndusInd Bank from a short-term perspective. It is evident from the charts that the stock was on a medium-term uptrend between late March 2008 and early May 2008, from its a low of Rs 68 to an high of Rs 105. After ... More

FOREIGN BANKS
US Exim Bank mulls lending over $6 b to Indian airline cos
Mumbai, March 13 Export-Import Bank of the US is looking to lend more than $6 billion to Indian airline companies such as Jet Airways and Air India for aircraft financing in the medium term, according to Mr James Lambright, its Chairman and ... More

GOVT BONDS
Bond yields rise
Bond yields hardened on tight liquidity and fears that inflation could rise further. Bond dealers said that the market was overdone, and the fall in prices was expected. “Bond yields are likely to touch 8 per cent and maybe move slightly ... More

CREDIT MARKET
Banks find carbon financing lucrative
Higher revenues, broadening of product portfolio are key incentives More

SHORT TERM INSTRUMENTS
Call rate unchanged
The inter bank call rate ended unchanged at 6.40-6.50 per cent. In the one-day reverse repo auction under the liquidity adjustment facility, the RBI received and accepted seven bids for Rs 2,430 crore. There were no repo bids. In the CBLO market, ... More

PEOPLE
J. Harinarayana set to head IRDA
Hyderabad, May 13 For the second time in a row, a career-bureaucrat from Andhra Pradesh is set to bag the post of the Insurance Regulator of the country. With the incumbent Mr C.S. Rao’s tenure ending on Wednesday, in all ... More