Financial Daily from THE HINDU group of publications
Thursday, June 06, 2002
Forex Rates June 5 (4.30 p.m. IST)
1 PoundRs 71.37
1 EuroRs 45.92
1 USDRs 48.97
100 YenRs 39.37
1 Sing $Rs 27.28

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IDBI Capital ties up with India Post
IDBI Capital Market Services Ltd, a wholly owned subsidiary of IDBI, has tied up with India Post to retail Government securities at post offices. "In three months time, one will be able to walk into a post office and buy a Government ... More


Re firms up; gilts weak
Mumbai: THE rupee closed stronger on Wednesday by around 4 paise at 49.01/49.0175 against the dollar in the forex market. The rupee opened at 49.04/05. Forex dealers said, that market participants across the board were unwinding long dollar ... More


PSU insurers switch overseas medical insurance partner
PUBLIC sector insurance companies have terminated their overseas medical insurance arrangements with Mercury Insurance Group of the US. The four insurance companies have now tied up with CORIS of France. Sources said that the four public sector ... More

ICICI Infotech solution for Oriental Insurance
ICICI Infotech has announced that it will implement Premia — its integrated information solution for insurance companies — at Oriental Insurance Co Ltd (OIC). The deployment of Premia would help OIC to integrate its various branches ... More


Steps to check money laundering
AN expert group of the Reserve Bank of India has recommended that banks create `customer profiles' on individual customers and also review the non-resident deposit schemes as a measure to check money laundering. The review of NRI deposit ... More

Market integrity: RBI expert group submits report
THE internal technical group on market integrity constituted by the Reserve Bank of India has submitted a report to the chairman of the standing committee on international financial standards and codes on May 30. The report provides an ... More


No change in management, says Dhanalakshmi Bank
"THERE will not be any change in the management control of the Thrissur-based Dhanalakshmi Bank,'' the Chairman, Mr T.M. Venkataraman, told Business Line. However, stake holding in the bank is poised to change significantly since the ... More


Allahabad Bank net doubles to Rs 80.21 cr for full year
ALLAHABAD Bank doubled its net profit to Rs 80.21 crore in 2001-02 from Rs 39.91 crore in 2000-01. During the same period, the operating profit at Rs 407.98 crore (Rs 266 crore) showed a growth of over 53 per cent. Dr B. Samal, CMD of the ... More

Corpn Bank opens counter at Nellore
THE Corporation Bank opened yet another extension counter at the divisional office premises of the Life Insurance Corporation (LIC) at Nellore in Andhra Pradesh today. According to a press release issued here, the bank is taking the initiative ... More


RBI fails to convince banks to bail out IFCI
THERE appears to be no immediate relief in sight for IFCI Ltd, with public sector banks continuing to express unwillingness to rollover their investments in the institution's bonds that had come up for redemption during the past couple of ... More


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    RBI asks banks, FIs to file list of suit-filed accounts
    THE Reserve Bank of India has asked banks and financial institutions to submit the list of suit-filed accounts of Rs 1 crore and above as on March 31, 2002 and quarterly updates thereof till December 2002 to both the RBI and the Credit ... More


    Nagaland decision boosts Greenply Ind prospects
    THE fact that Nagaland has allowed plywood units to continue operations in certain areas has come as a boon for Greenply Industries, which has sought to raise funds through a commercial paper issue. The permission by the Nagaland Government has ... More


    Vysya Bank debit card
    VYSYA Bank has launched the Vysya Bank Maestro Debit card in association with MasterCard International - a global online PIN-based deposit access card. The bank expects to distribute over a lakh cards in the next couple of months. The debit ... More


    Corporate governance -- RBI asks listed banks to follow SEBI norms
    THE Reserve Bank of India (RBI) has asked all listed commercial banks to follow SEBI's committee report on corporate governance. According to a circular issued by RBI to the chiefs of all commercial banks, this follows SEBI's suggestion to RBI ... More


    Liquidator for Sravya co-op bank
    HYDERABAD: An official of the Co-operative Department has been appointed as liquidator for the beleaguered Sravya Co-Operative Bank Ltd, according to the Sravya Co-operative Urban Bank Ltd Depositors' Welfare Association. The joint ... More
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