Financial Daily from THE HINDU group of publications
Wednesday, March 27, 2002
| Forex Rates March 26 (4.30 p.m. IST) | ||||||||||
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Financial Daily from THE HINDU group of publications Wednesday, March 27, 2002 |
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MONEY & BANKING FOREX Rupee up; gilts decline Mumbai: THE rupee closed marginally stronger on Tuesday at 48.75/7550 against the dollar as against Friday's close of 48.76/77 in the forex market. Forex dealers said, that there were some bunched up supplies that came into the market over the ... More NBFCS India Cements Capital to raise Rs 10 crore INDIA Cements Capital & Finance Ltd proposes to raise Rs 10 crore by a preferential issue of equity shares to the promoters' group companies. It informed the Bombay Stock Exchange that at the meeting of the board of directors held on March 25, ... More LIFE INSURANCE Insurers team up to fight 'rebate' menace ALL these years, the life insurance agent regularly did something that was patently illegal - in order to get business, he waived a part of the first year's premium to the customer, by paying the `rebate' out of his own commission. The ... More
MetLife to focus on group cover -- Capital base to be widened next year
AMP Sanmar eyes business in State
GENERAL INSURANCE IRDA caps agency commission at 15 pc THE Insurance Regulatory and Development Authority (IRDA) has said that general insurance companies would be allowed to pay a maximum of 15 per cent as agency commission for insuring assets purchased through individual loans including those under ... More CREDIT RATING `LAAA' reaffirmed for TVS issue NEW DELHI: Credit rating agency ICRA Ltd on Tuesday said it has reaffirmed the `LAAA' rating for the non-convertible debenture (NCD) programme of T. V. Sundram Iyengar & Sons Ltd. The agency said it has also assigned the `MAAA' rating ... More HUMAN RESOURCES No case for fresh induction: Andhra Bank THE management of Andhra Bank has denounced the charges levelled against it by the Award Employees Union on the quality of services to customers after the VRS to over 1,600 employees during the last quarter of last fiscal year. Talking to ... More RBI & OTHER CENTRAL BANKS Importers can rebook cancelled forward deals THE Reserve Bank of India has relaxed rules on hedging of imports by allowing importers to re-book cancelled foreign currency forward contracts. However, the facility, which will come into effect from April 1, 2002, is up to an amount of $100 ... More PRIVATE BANKS Hindujas sell part of stake in IndusInd? THE Hindujas have reportedly sold a part of their stake in IndusInd Bank in negotiated deals. A top official of the bank said it was possible that the deal had taken place. It could, however, not be ascertained who bought the stake. The ... More PUBLIC SECTOR BANKS Guarantee to DPC: SBI may lose Rs 72.5 cr STATE Bank of India (SBI) is likely to take an immediate hit of Rs 72.5 crore on account of a guarantee issued to the Customs Department on behalf of the Enron-promoted Dabhol Power Company (DPC). A Division Bench of the Mumbai High Court ... More FOREIGN BANKS Bank of Bahrain plans major credit expansion -- To market financial products The bank had entered into an alliance with Andhra Bank to offer cash withdrawal facility to all the credit card holders of VISA and Master Card whether they are customers of Bank of Bahrain or not. More FINANCIAL INSTITUTIONS 
FIs keen on `take-or-pay' mode for funding oil pipeline projectsINDIAN Oil Corporation's decision to convert its 1,443-km Kandla-Bhatinda product pipeline into a crude oil carrier is making term lenders wary of funding ``common carriers''. Financial institutions and banks are now insisting on `take-or-pay' ... More
KSFE pays up commission INTEREST RATES US rate hike likely to be modest Upward moves will be modest without any firm conviction and more in the nature of withdrawing the cuts made in the extremely unsettled and uncertain economic and financial environment in the last quarter of 2001. More MERGERS & ACQUISITIONS ICICI merger with banking arm -- SEBI sounds Govt on extending DFI norms THE Securities and Exchange Board of India has sought the views of the Finance Ministry on the request of ICICI to extend the SEBI guidelines on designated financial institutions (DFIs) to cover banking entities also. ICICI has set a ... More TRADE & LABOUR UNIONS Andhra Bank staff strike today THE employees of Andhra Bank will observe a full-day protest strike on March 27 at the call of the All-India Andhra Bank Award Employees Union (AIABAEU) demanding the management to recruit employees both in clerical and sub staff cadre to ensure ... More
Corpn Bank officers to go on strike EVENTS NEW PRODUCTS & SERVICES IDBI-Principal relaunches 2 fixed maturity plans IDBI-Principal has relaunched two Fixed Maturity Plans (FMPs) under its Deposit Fund series. An open-ended debt oriented fund, the IDBI-Principal Deposit Fund will now have two schemes - a 91-day plan and a 371 day plan for investors both ... More Comments & Letters to the Editor to: bleditor@thehindu.co.in Subscribe to: Business Line |
Top Stories In Depth Inside Kashmir Guide to derivatives US-64 Looking back Mar. 17-Mar. 23 Indian Bank recap may come with riders Will securitisation turn out to be a vibrant industry? Motor insurance set to rise sharply `No retrospective tax effect on discount bonds' PSU insurance cos fear cost escalation -- Embark on damage-limitation LIC to discontinue children's policy Restraint against joining proceedings in US -- Dabhol lenders get HC reprieve Gold exchange key to boost market: Reddy Pvt banks better PSBs in cost control Indian Bank tops in interest spread Govt focussed on NPA recovery, says Sinha Dabhol lenders may recall loans |
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