&nbsp;Refiners can hedge up to 50 per cent of imports. 
&nbsp;The RBI has permitted domestic crude oil refining companies to hedge their commodity price risk on domestic purchase of crude oil and sale of petroleum products on the basis of underlying contracts, which are linked to international prices on overseas commodity exchanges/markets.

Hedging easier for oil companies

Business Standard

&nbsp;Infrastructure companies can now hope to borrow more from commercial banks. 
&nbsp;Taking note of the usual delays an infrastructure project is exposed to, the RBI has relaxed the norm for classifying an infrastructure project as a sub-standard asset by banks to two years from date of completion, from one year earlier.

Easier norms for loans taken for projects

&nbsp;Fresh norms may be introduced for derivatives exposures of banks. 
&nbsp;Reserve Bank of India, in its annual policy for 2008-09, has said that it will review the existing guidelines for banks' off-balance-sheet exposures such as derivative products.

Exposure norms for off-balance sheets of banks under review

Rashesh Shah, Chairman, Edelweiss Group 
In its annual policy announcement, the RBI has hiked the CRR by 25bps and has left other policy rates unchanged.

Good policy, but uncertainty to continue

With banks increasing exposure to systemically important Non Banking Finance Companies (NBFCs), the RBI proposes to review the prudential regulations for the latter.

NBFCs under RBI`s lens

Reserve Bank of India (RBI) will realign its internal supervisory process by end August, 2008 to enhance the effectiveness of consolidated monitoring of financial conglomerates.

Supervision of financial conglomerates on the cards

Banks, brokers could be first off the block; companies need to have underlying rupee-dollar positions.

Currency futures to make debut soon

Nilesh Shah, Deputy MD, ICICI Prudential AMC 
With a CRR hike of 25 bps, RBI has clearly sent signals that current focus is to control inflation by managing liquidity rather than increasing rates which could be more detrimental to growth? 
With inflation levels surpassing target limits, its impact on the individual consumers and the economy as a whole could not be ignored.

Credit growth may slow down further

&nbsp;Move should result in more takers for gilts. 
&nbsp;To make the government borrowing porgramme attractive in times of rising interest rates, the Reserve Bank of India (RBI) has mooted the introduction of floating rate bonds (FRBs).

Floating rate bonds in the works

After the flawed launch of interest rate futures in June 2003, the RBI has once again decided to re- introduce the product.

Interest rate futures to be re-launched

Neeraj Swaroop, CEO, Standard Chartered Bank 
The Reserve Bank of India's policy is supportive of growth and has been very well received by industry and financial markets.

CRR to be used more and more

&nbsp;<A href="http://www.business-standard.

Policy targets inflation without hurting growth

The Munjals of the Hero group have put their plans to set up an insurance venture on the backburner due to investment commitment to other businesses.

Munjals put life insurance plan on backburner

Under pressure from the finance ministry to meet agricultural lending targets, commercial banks have devised a new strategy to raise credit&nbsp;- contract farming.

Banks bet big on contract farming

The Reserve Bank of India today in its Annual Policy Statement for the year 2008-09 has hiked the Cash Reserve Ratio (CRR) by 25 basis points (bps).

RBI hikes CRR by 25bps; repo rates unchanged

With the government devising alternative ways to trail black money, the Banking Transaction Tax (BTT) will be withdrawn by the end of this year, Finance Minister P Chidambaram said today.

Banking transaction tax to go: Chidambaram

Press Trust of India

HDFC today reported 39.6% rise in Q4 net profit for the quarter ended March 31, 2008, at Rs 768.12 crore when compared with Rs 550.05 crore in the corresponding quarter a year ago.

HDFC Q4 net up 39.6% at Rs 768cr

Bank of Maharashtra today said it will raise money through a Follow-on Public Offer (FPO) or private equity even as the bank posted a net profit decline of 26 per cent at Rs 55.99 crore for the fourth quarter ended March 31 2008.

Bank of Maharashtra net dips 26% y-o-y

Public sector lender, Corporation Bank, would wait and watch the evolving situation and decide on its interest rates only after its asset-liability committee (ALCO) meets in mid-May, a top bank official said.

Decision on interest rates in May: Corp Bank

REVERSE MORTGAGE: Tax exemption on income will enable the old to cash in on property.

Some succour in store for senior citizens

INSURANCE Service tax on unit-linked plans is a dampener for long-term savings market-led investments.

Ulips feel the service tax pinch

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