Hits 9-yr high of 40.28, closes at 40.51.


Rupee on cloud nine

Business Standard

New Zealand billionaire, Christopher Chandlers Legatum group bought a $4.5 million stake in Mumbai-based Financial Information Network &amp; Operations, saying the investment will help spur growth in

Chandler buys stake in Indian microfin firm

Standard Chartered, a UK bank that makes most of its money in Asia, plans to double the number of its private banking units to 20 in the next four years to meet demand from the growing ranks of

StanChart to double private bank centres

Citigroup is expanding its relationship with Housing Development Finance Corporation (HDFC) beyond the stake it owns in the countrys mortgage lender. 


Citi to hawk HDFC loans

The government-owned Life Insurance Corporation (LIC) has finalised Corporation Bank as a partner for its credit card foray and is in talks to rope in other players to manage the venture. The

LIC to partner Corpn Bank in credit card foray

Strengthens expectations of moves by RBI to suck out liquidity.


Call rate dips to 4% on infusion of liquidity

A consensus is emerging among economists, bankers and companies that the rupee, which touched a nine-year high of 40.28 to the dollar on Monday, is unlikely to appreciate much further. 


Re rise may be nearing end

Yes Bank has launched a $100 million food and agribusiness India fund. The private equity fund plans to invest the entire amount in the next 1-2 years, with an investment between $5 million and $7.5

Yes Bank floats $100 m agro fund

Move blocks UTI Banks plan to retain P J Nayak as executive chairman.


Pvt banks told to appoint part-time chairmen

The public sector banks (PSBs) are stung by the departure of a large number of officers for greener pastures. The managements now want to spend more on employee incentives, to limit the attrition, but

State-run banks seek higher incentive ceiling

Rupee futures, to be soon launched by the Dubai Gold and Commodities Exchange, is likely to be a preferred hedging and investment mechanism against currency fluctuations over the existing

NDF may lose out to Dubai's Re futures

The public sector, Dena Bank, will add four million clients this financial year.


Dena Bank to add 4 mn customers this fiscal

The overnight inter-bank call money rate fell to 1.25 per cent at the close of trading in the money market today, down from yesterdays low of 4 per cent.


Call rate slips down further to 1.25%

DCB Bank has tied up with Credit Sudhaar, a credit health improvement company to offer DCB Payless Card to customers. The DCB Payless Card is a secured credit card with the security of a fixed deposit and the convenience of a credit card.

DCB Bank ties up with Credit Sudhaar to offer credit card

Important definitions in medical policies that one needs to know.


Medical insurance

The ICICI Bank will be establishing 14 finance chairs in 14 business schools across the country. Under this initiative, the Bank will sponsor the salaries of chair professor and an assistant professor

ICICI Bank to set up 14 finance chairs

The Securities and Exchange Board of India (Sebi) has suggested creation of a private sector self-financing regulatory organisation (RO) as a first-level regulator for investment advisors.


Sebi wants check on investment advisors

Investments are pouring in for the fixed maturity plans (FMPs) as investors rush to park their funds for a period of slightly more than a year (13 months) to gain from the double-indexation benefit

Investors flock to fixed maturity plans

After many years of being in the red, term lending institution IFCI is on the verge of announcing a major turnaround with a profit of around Rs 1,000 crore for financial year 2006-07. The turn-around

IFCI back in black with Rs 1000 cr net

Its not just the retail customer who is fretting over the rising interest rates. Small and medium enterprises (SME) have also begun to feel the heat. SMEs are fearing that the repeated hike in prime

SMEs feeling the PLR heat

Reinsurance renewals and corporate renewals for 2007-08 were concluded today. With insurers offering discounts in excess of 50 per cent on property premiums, Munich Re, the worlds largest reinsurer,

Munich Re in withdrawal mode

Finance News: Latest investing news and finance headlines straight from Business Standard.

Page 1826 - Finance News