Financial Daily from THE HINDU group of publications
Sunday, December 15, 2002

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Charter flight rules eased to draw tourists
IN an effort to attract more tourists into the country, the Union Government has eased the rules for operation of air charters, according to the Minister for Civil Aviation, Mr Syed Shahnawaz Hussain. "Now, passengers holding Indian passports ... More

Banks scuttle SPIC plan for FRN buyback
A CONSORTIUM of bankers has blocked a proposal from Southern Petrochemical Industries Corporation (SPIC) for buying back a part of its Floating Rate Notes (FRN). SPIC had raised $120 million in 1996 through an FRN (bonds whose rates are linked ... More

Air discounts for senior citizens may be scrapped
DOMESTIC airlines may either reduce or do away with the senior citizen discount, which are being offered at present, senior Government officials said here today. However, officials emphasised that the decision to reduce or do away with the ... More

Forex reserves top $67 b as banks mop up dollars
THE country's forex reserves rose by $828 million to touch $67.753 billion for the week ended December 6, 2002, compared to $66.925 billion in the previous week, according to the latest figures released by Reserve Bank of India. "There has been ... More

SBI examining sector-wise lending rates
THE Reserve Bank of India has asked the country's largest public sector bank, State Bank of India (SBI) to study the issue of `sector-wise segmentation of prime lending rates' (PLR) and come back with its suggestions on the subject. Recently, ... More

No loans against 7% savings bonds
BANKS are not allowed to sanction loans against the 7 per cent savings bonds 2002 scheme, which was introduced in October this year, according to a statement from the Reserve Bank of India. In a press release, the RBI has said that this ... More

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