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Top Stories |
Banks may get time to move loans to new base rate
The Reserve Bank of India may soon announce a one-year sunset clause to help banks move all their existing loans to the new base rate-linked lending regime.
Govt sets up small savings fund panel
The government has set up a committee headed by Reserve Bank of India Deputy Governor Shyamala Gopinath to review the structure of National Small Savings Fund (NSSF), it said in a release on 12th July, 2010.
RBI concerned over ULIP Ordinance
The Reserve Bank of India has expressed certain reservations on the Government's recent ordinance with regard to regulatory jurisdiction on hybrid products.
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Indian Financial Institutions |
UCO Bank adopts village
UCO Bank has adopted Bagha village near Jangipur in Murshidabad district of West Bengal under its village adoption programme.
UCO Bank to decide on follow-on offer
UCO Bank would take a call on the timing of its follow-on public offer (FPO) after the fund infusion of about Rs 375 crore from the Government under the recapitalisation scheme, according to its Executive Director, Mr Ajai Kumar. The bank has sought about Rs 1,300 crore from the Government under the recapitalisation scheme during 2010-11, of which, it was hopeful of receiving Rs 375 crore shortly. The fund infusion would be by way of perpetual non-cumulative preference shares and would shore up the bank's capital adequacy ratio.
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Insurance |
Discontinuance charges on ULIPs capped
Policy holders of Unit-Linked Insurance Plans (ULIPs) will now have protection if they discontinue the policy before the lock-in period of five years. In its regulations on the treatment of discontinued unit-linked insurance policies that were notified on 12th July, 2010.
National Insurance renews Infosys cover for Rs 4 cr more
National Insurance has managed to retain the account of the software major Infosys for the fifteenth consecutive year. Software major Infosys Technologies has renewed its insurance cover with National Insurance Company for a marginally higher sum of Rs 10,500 crore for the year 2010-11, as against Rs 9,500 crore last year.
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IMF's lending practices more flexible
Immediately after the global financial crisis broke, and for some months thereafter, the IMF indicated in various policy papers and other documents that it had changed its position with respect to the strict and generally pro-cyclical measures it had been suggesting to countries in the throes of financial or balance of payments crisis.
Ranking business towns by bank deposits or I-T collections
The RBI's list of top 200 towns by bank deposits is one of the few good ways of ranking towns according to the business potential. But the list is sometimes misleading.
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13.7.2010
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| Currency |
Rate (Rs.) |
Change |
| USD |
46.93 |
-0.20 |
| Euro |
58.90 |
-0.10 |
| GBP |
70.30 |
-0.36 |
| Yen (100) |
52.95 |
-0.32 |
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13.7.2010 16.00
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Index |
Change |
| NIFTY |
5400.65 |
17.65 |
| SENSEX |
17985.90 |
48.70 |
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Market Updates |
Sensex rebounds on late buying, ends 49 pts up
A strong round of buying in several blue chip stocks during the final hour on the back of a firm start on the Europoean bourses, pulled the market out of the red and lifted it to a positive close today.
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