Financial Daily from THE HINDU group of publications
Friday, January 04, 2002
Forex Rates Jan 3 (4.30 p.m. IST)
1 PoundRs 69.49
1 EuroRs 43.45
1 USDRs 48.19
1 YenRs 36.53
1 Sing $Rs 26.05

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Re steady; securities gain
THE rupee ended on Thursday at 48.25/2575 against the dollar almost similar to the previous close of 48.24/25 in an otherwise lacklustre forex market. Dealers said that the currency is looking to settle in a range after the last few days of ... More


NBFCs cheered by RBI's rationalisation measures
NON-BANKING financial companies (NBFCs) have reason to be happy with the rationalisation measures announced by the Reserve Bank of India two days ago. What may be particular cause for satisfaction is the RBI's acceptance of their plea for ... More


Public insurers may raise agency commission
THE public sector general insurance companies are expected to increase the agency commissions over and above the self-imposed ceiling of five per cent. Sources here said the move was being adopted since all the private sector companies were ... More


RBI seeks more time on segment reporting
Some banks are understood to have told the RBI that such an accounting principle would prove to be an additional burden for banks as they already have a lot of financial reporting to make to the RBI itself. More


Multilateral agencies to be roped in -- Asset reconstruction co equity to private sector
The ARC Committee, in its report submitted to the Government in late November, had said that the equity capital should be split between nearly 31 identified PSU banks and FIs, all of whom would be required to contribute a minimum of Rs 5 crore. More


IRDA to set up panel on bancassurance
AMIDST differences between insurance companies and banks on the modalities of operationalising the system of bancassurance, the Insurance Regulatory and Development Authority (IRDA) has decided to constitute a separate sub-committee that would ... More


Bank strike today
A SECTION of bank employees is all set to strike work on January 4 in protest against the alleged anti-labour practice of Standard Chartered Bank. The strike call was given by the All-India Bank Employees' Association (AIBEA) which alleged that ... More
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