Financial Daily from THE HINDU group of publications
Sunday, September 08, 2002

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Forex reserves rise $480 m
THE country's forex reserves rose by $ 480 million to touch $ 61.515 billion for the week ended August 30, 2002, from $ 61.035 billion in the previous week, as per the RBI statistics. According to dealers, the rise in forex reserves is due to ... More


Housing loan rate cuts
Following the sharp cuts effected by the State Bank of India in the space of a month, a host of others including HDFC, LIC Housing Finance and Corporation Bank have followed suit. HDFC has cut its fixed rate to 9.75 per cent for five-year ... More


LIC to replace New Bima Nivesh
LIFE Insurance Corporation (LIC) said on Saturday that it would withdraw its New Bima Nivesh Plan from September 16. A modified version of the plan - Bima Nivesh 2002 - will be launched on September 18. The existing Bima Nivesh Triple ... More


Bonds likely to remain bid
THE yield curve has marginally shifted downwards in the last fortnight. The ten-year bond currently trades at 7.12 per cent, 5 bps lower than a fortnight ago. Going forward, the bond market may remain bullish, though the upside from the current ... More


UBI term loan for Kovalam Ashok
UNION Bank of India (UBI) has extended a term loan of Rs 27 crore to fund the disinvestment of ITDC's Hotel Kovalam Ashok near Thiruvananthapuram. The bank has granted the eight-year loan, which also has a repayment moratorium of one year, to ... More


TN Power Finance: Not so powerful
TAMIL Nadu Power Finance accepts deposits under three schemes. Under the regular interest payment scheme (RIPS), deposits are accepted for 24, 36, 48 and 60 months. The 24-month deposit pays interest at 8.31 per cent per annum at quarterly ... More
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