The Hindu Business Line : Friday, March 29, 2002

Rupee firm; gilts bullish
Mumbai: THE rupee closed almost unchanged on Thursday at 48.7950/8050 to a dollar as compared to 48.80 previously, in a dull forex market. Dealers said that the demand and supply of dollars were equally matched with the State-run banks ... More

HOUSING FINANCE

SBI housing loans likely to be cheaper
HOUSING finance and personal loans from SBI will become cheaper following the cut in PLR announced by the bank on Wednesday. Interest rates on loans of housing finance and other personal banking products of the bank are expected to fall by 50 ... More

RBI & OTHER CENTRAL BANKS

RBI to work extended hours
HYDERABAD: The regional office of RBI at Hyderabad would remain open for full day on Saturday for the purpose of collection of Central Government duties and taxes. The extended hours would be limited for receipts only and the counters ... More

Banks to extend working hours
IN view of the holidays coinciding with closure of accounts for the current financial year, RBI has told banks to make necessary arrangements to enable assesses to pay their taxes. The RBI has advised banks to make arrangements at their select ... More

RBI move on soiled notes
THE RBI today installed a currency verification and processing system (CVPS) at its Bangalore office. The CVPS will pave way for the implementation of the `clean note policy' and will sort out soiled notes accumulated in over 260 currency ... More

RBI counters for tax collection

PUBLIC SECTOR BANKS

BoB cuts deposit rates; PLR unchanged
BANK of Baroda today reduced its deposit rates by 25 basis points across various maturities. The bank has, however, left its prime lending rate (PLR) unchanged at 11 per cent. For deposits less than Rs 15 crore, for duration of 15-45 days the ... More

Kerala: Corpn Bank to remain closed tomorrow

Canara Bank plans more ATMs

FOREIGN BANKS

Citibank plans to trade in Govt securities
AFTER establishing a foothold in the Indian banking and non-banking financial sector, the Citibank group is now all set to focus on the Government securities market and start trading in gilts. Citicorp Finance India Ltd (CFIL), a wholly-owned ... More

FINANCIAL INSTITUTIONS

Sharp drop in FI disbursements
THAT there is an economic slowdown is well known. But to grasp the gravity, take a look the dismal disbursement figures for the current fiscal of the All India Financial Institutions (comprising development banks, specialised financial ... More

INTEREST RATES

Govt inclined towards softer rates: Sinha
THE Finance Minister, Mr Yashwant Sinha, has said that the Government will continue to maintain its bias towards a softer interest rate regime. Welcoming the 50 basis points cut in prime lending rate announced by State Bank of India (SBI), Mr ... More

Canara Bank cuts NRE, term deposit rates
THE public sector Canara Bank has dropped the interest rates on NRE and domestic term deposits by 0.25 per cent (25 basis points). A bank release said here on Thursday that the reduction will take effect from the beginning of the next financial ... More

GOVT BONDS

Greater Noida may float municipal bonds
The authority is hoping to create a world-class city with infrastructure that might ultimately include an airport, an inland container depot and expressways connecting to the Capital and the Taj Mahal. More

CORPORATE BONDS

APSFC raises Rs 62 cr from bonds
HYDERABAD: The Andhra Pradesh State Financial Corporation (APSFC) has announced that it has raised funds to the tune of Rs 61.90 crore by way of issue of SLR bonds for 2001-02. In a press release here on Thursday, APSFC said the bonds ... More

CREDIT CARDS & DEBIT CARDS

Orange, StanChart card launched
MOBILE operator Hutchison Max Telecom Pvt Ltd and Standard Chartered Bank have launched their co-branded credit card called the `Orange Standard Chartered Visa Global Credit Card'. Announced with much fanfare with cricketer Sachin Tendulkar, ... More

HDFC Bank credit card in Bangalore
MUMBAI: HDFC Bank has launched the HDFC Bank International Silver Credit Card in Bangalore. The bank had launched the credit card in Chennai and Mumbai earlier. With a customer base of nearly two million, the bank will focus primarily on ... More

MERGERS & ACQUISITIONS

HC decision on ICICI, Bank merger on April 11
THE Mumbai High Court would pronounce its order on ICICI Ltd's application for approval to its scheme of amalgamation with ICICI Bank on April 11. The High Court Judge, Mr D.K. Deshmukh, who heard all the arguments on Thursday, said the court ... More

World Bank arm keen on picking stake in PSU insurance cos
Among the four PSU insurance companies, the New India Assurance Company Ltd (NIACL) is the largest and incidentally the most profitable with a premium income close to Rs 3,500 crore and therefore a logical front-runner. More

TRADE & LABOUR UNIONS

BoB strike called off
THE proposed strike called by various unions against Bank of Baroda has been called off. The strike was supposed to be held on March 30. All branches and offices of the bank will function normally on that date. Various associations were ... More

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