Financial Daily from THE HINDU group of publications
Wednesday, December 25, 2002
Forex Rates Dec. 24 (4.30 p.m. IST)
1 PoundRs 76.35
1 EuroRs 49.29
1 USDRs 47.97
100 YenRs 39.91
1 Sing $Rs 27.56

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FOREX


Rupee stable; gilts bullish
Mumbai: THE rupee ended on Tuesday at 48.0150/02 against the dollar as compared to Monday's close of 48.01/0150 in the forex market. The supply of the dollar was seen to be significant in today's market. Genuine corporate demand of dollars was ... More

ING Vysya bags Haj forex contract
BANGALORE: ING Vysya has bagged the contract for servicing the foreign exchange requirements of Haj pilgrims proceeding to Mecca for Haj 2003. This is second consecutive year for which the bank has been awarded this mandate. The contract ... More

INSURANCE


Prasar Bharati to run campaign on IRDA role
THE role of the Insurance Regulatory and Development Authority (IRDA) is set to get a major boost with the All India Radio (AIR) and the Doordarshan set to launch a nationwide multi-language campaign. The Prasar Bharatihas decided to provide ... More

LIFE INSURANCE


Birla Sun Life augments capital to Rs 180 cr
BIRLA Sun Life Insurance today announced that it has augmented its capital by Rs 30 crore to Rs 180 crore. The additional capital of Rs 30 crore has been contributed by the joint venture partners, the Aditya Birla Group and Sun Life Financial, ... More

GENERAL INSURANCE


Lord Krishna Bank ties up with Bajaj Allianz
LORD Krishna Bank has tied up with Bajaj Allianz General Insurance Company for distribution of general insurance products to the bank's customers and the public. This will help the bank greatly since it is in the process of giving greater ... More

FINANCIAL MARKETS


2003: Stock-friendly, bond unfriendly?
AS 2002 comes to a close, the question that naturally comes to mind is what's in store in 2003. Clearly, 2002 was designed for the most conservative among investors — those who do not venture into equities at all and stick only to fixed ... More

CORPORATE BONDS


Chennai Metro Water plans tax-free bonds
THE Chennai Metropolitan Water Supply and Sewerage Board (CMWSSB) has planned to raise tax-free municipal bonds for urban infrastructure development works in city to benefit Chennai residents. According to high-level sources at CMWSSB, Srei ... More

NON-PERFORMING ASSETS


Securitisation Bill gets President nod
THE President has given his assent to four Bills, including the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Bill, 2002 and the Negotiable Instruments (Amendment and Miscellaneous Provisions) Bill, ... More

PEOPLE


Corporation Bank promotes three DGMs
CORPORATION Bank has promoted three of its Deputy General Managers to the rank of General Manager. According to a statement here, while Mr M. Narendra and Mr A. Mohan Rao will be promoted with immediate effect, the promotion of Mr Ramachandra ... More

TRENDS


Despite claims, RIDF is a flop
AT a recent press conference of Nabard, officials made some grand claims for the Rural Infrastructure Development Fund (RIDF). But going by the literature given at the meet, the RIDF has been a flop, confirming the findings of the research paper ... More
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