Financial Daily from THE HINDU group of publications
Friday, December 20, 2002
Forex Rates Dec. 19 (4.30 p.m. IST)
1 PoundRs 76.98
1 EuroRs 49.25
1 USDRs 48.02
100 YenRs 39.69
1 Sing $Rs 27.49

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Re gains 5 paise; gilts rise
Mumbai: THE rupee closed 5 paise stronger at 48.0750/0850 against the dollar on Thursday, as compared to Wednesday's close of 48.1250/1300 in the forex market. There were good supplies of the dollar in the market, which helped the rupee ... More


i-flex solution for Bulgarian bank
BANGALORE: i-flex Solutions has announced that its flagship product Flexcube has been selected by Hebros Bank in Bulgaria to centralise its banking operations and provide the technology platform for accelerating retail banking ... More


Nabard pegs Karnataka's credit potential at Rs 9,729 crore
THE National Bank for Agriculture and Rural Development (Nabard) has estimated a rural credit potential in Karnataka of Rs 9,729 crore for the year 2003-04, up from Rs 9,265 crore in 2002-03. The Chief General Manager, Nabard, Bangalore, Mr ... More


GIC move to transfer stake hits snag
THE move to transfer the equity stake in the four public sector companies by the General Insurance Corporation Ltd (GIC) has hit a roadblock over valuation issues. GIC is the holding company for the four general insurance companies, Oriental ... More


RBI blamed for `slackness'
THE Joint Parliamentary Committee (JPC) probing into the securities scam has expressed concern over the Reserve Bank of India's (RBI) "weak and ineffective" supervisory role, which, it feels, was instrumental in diverting bank monies into the ... More


Corpn Bank eyes overseas turf
CORPORATION Bank is looking at overseas markets, courtesy its tie-up with Life Insurance Corporation. For starters, it has sought to leverage its relationship with LIC to explore opportunities among the NRI population. The bank, in which the ... More

Union Bank sells 224 policies in two days
UNION Bank of India today said its has sold 224 insurance policies in two days of commencing its bancassurance business. The bank has tied up with HDFC Standard Life Insurance Co Ltd to market life insurance and pension products. Addressing a ... More


Bank of India hires Deloitte as agent to recover NPAs
A DAY after the RBI's announcement of the guidelines for the setting up of asset reconstruction companies for the recovery of NPAs under the Securitisation Ordinance, Bank of India, has chosen an alternative route. The bank has appointed ... More

Model Steels assets seized
VIJAYAWADA: Andhra Bank has taken possession of Model Steels Private Ltd at Nidamanuru village near here "in exercise of powers conferred under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest ... More

Indian Bank seizes defaulter property in Coimbatore
INDIAN Bank, Coimbatore circle, has taken the lead among the nationalised banks that have a presence here by taking possession of a property within Corporation limits on Wednesday. Though the property was only a residential one, the move has ... More

  • Union Bank seizes defaulter's assets


    Aviva launches `Treasure Plus'
    AVIVA Life Insurance along with ABN-Amro Bank has launched `Treasure Plus', an investment cum protection plan for the customers of the bank. Treasure Plus is an investment plan with a life insurance cover and a value-added bank account. The ... More
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