Financial Daily from THE HINDU group of publications
Tuesday, December 17, 2002
Forex Rates Dec. 16 (4.30 p.m. IST)
1 PoundRs 76.35
1 EuroRs 49.14
1 USDRs 48.09
100 YenRs 39.76
1 Sing $Rs 27.53

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Cash management services set to transform: HSBC
CASH management services in India are expected to under go major changes in the future, predicts HSBC. According to the newly released `HSBC 's Guide to Cash and Treasury Management in Asia-Pacific 2003', "With various initiatives currently in ... More

FOREX


Re up 3 paise; gilts buoyant
Mumbai: THE rupee ended high on Monday at 48.1450/1500 against the dollar as compared to its previous close of 48.1750/1775 in the forex market. Supplies of the dollar was seen to be good with little demand for it in the market, that saw the ... More

INFORMATION TECHNOLOGY


Allahabad Bank engages IT consultant
MR Y. Radhakrishnan, a former Managing Director of the State Bank of India, has been engaged by Allahabad Bank as consultant, for advising the bank on computerisation. Allahabad Bank is just about to begin networking some of its branches, may ... More

GENERAL INSURANCE


Foreign parents averse to large risks — Pvt insurers look to GIC for cover
FACED with resistance from international reinsurance companies, domestic private sector general insurers have begun rushing to the General Insurance Corporation (GIC) for cover. This is over and above the mandatory 20 per cent reinsurance that ... More

NON-PERFORMING ASSETS


There are no wilful defaulters, says Muthiah
THE President of the Federation of Indian Chambers of Commerce and Industry (FICCI), Mr A.C. Muthiah, has said if companies defaulted on institutional loans, it was not because of intent to default but due to the economic environment. "We are ... More

CREDIT CARDS & DEBIT CARDS


IOC, Citibank launch co-branded debit card
INDIAN Oil Corporation (IOC) and Citibank today introduced a co-branded debit card for Citibank Suvidha and banking customers across 15 cities in India. New and existing Citibank customers enrolling for the card will be spared the 2.5 per cent ... More
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