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Rupee
down marginally
Mumbai: The domestic currency ended marginally
weaker on Thursday at 46.3750/3800, as against 46.3550
on Wednesday.
Forwards Market: The six-month closed at 2.35 per
cent (2.55 per cent) while the 12-month ended at 2.00
per cent (2.06 per cent).
G-Secs: The 11-year benchmark 7.38 per cent 2015
paper closed lower at Rs.108.90.
Call Rates: At about 4.25-4.30 per cent.
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Ceiling
for Lok Adalats raised to Rs.20 lakh
Mumbai: The Reserve Bank of India has said that
the monetary ceiling of cases for compromise settlements
referred to the Lok Adalats organised by civil courts
has been raised to Rs.20 lakh with immediate effect, as
against the earlier limit of Rs.5 lakh. In a circular
to all scheduled commercial banks and financial institutions,
the apex bank has said, that convener banks of State Level
Bankers' Committee (SLBC) and lead banks of districts
should give necessary publicity to the scheme through
various modes under their areas of operation.
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Rights
offer from South Indian Bank
Kolkata: South Indian Bank has proposed a rights
issue of 1,19,19,480 equity shares of Rs.10 each at a
premium of Rs.30 per share to the existing shareholders
in the ratio of one equity share for every three shares
held on the record date of July 23. The issue is expected
to aggregate net sum of Rs.7.68 crore. ICICI Securities
is the lead manager to the issue and Tata Consultancy
Services Ltd has been selected as the registrar to the
issue. The issue opens on August 12, and closes on September
11.
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AMP
Sanmar declares bonuses on three schemes
Chennai: AMP Sanmar Life Insurance Company has
declared bonuses on three of its schemes. For the 'Nithya
Shree' plan it has declared a bonus of 6 per cent (simple)
on the sum assured, consisting of 4 per cent reversionary
plus two per cent non-recurring reversionary. The company
has declared a three per cent (compound) bonus on 'Subha
Shree', consisting of two per cent regular and one per
cent additional non-recurring. On the money back scheme
called 'Dhana Shree' and for the child protection plan
'Yuva Shree', AMP Sanmar has issued a three per cent bonus-
two per cent reversionary and one per cent additional
non-recurring reversionary.
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Birla
Sun Life raises paid up capital
Mumbai: Birla Sun Life Insurance has raised its
paid-up capital by Rs.25 crore to Rs.315 crore. The joint
venture partners, the Aditya Birla Group and Sun Life
Financial Inc, have contributed the additional amount
of Rs.25 crore, said a press release. Since inception,
the company has covered over 5,75,000 lives with the total
sum assured exceeding Rs.16,150 crore as on June 30. BSLI
plans to open 11 new branches in the first half of this
year.
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