The Hindu Business Line : Wednesday, March 05, 2003

Marsh India gets broking licence
THE US-based insurance service firm, Marsh Inc, has received the licence for operating as an insurance broking firm in India. It has already set up a joint venture in India - Marsh India Pvt Ltd - with an Indian company, Rampart. Marsh India ... More

FOREX

Rupee stable at 47.65
Mumbai: THE rupee closed on Tuesday at 47.6500/6550 against the greenback, almost unchanged from the previous day's closing levels, following a lacklustre day in the local currency markets. Despite the dollar losing heavily against all ... More

INFORMATION TECHNOLOGY

Time to get cracking
Technology is changing the face of the banking and financial system. It's up to Indian companies to make the most of the action. More

INSURANCE

Insurance premia set to go north
INSURANCE premiums, both life and general, are expected to show hefty increases in line with the hike in the service tax rate to 8 per cent announced by the Finance Minister, Mr Jaswant Singh, in the budgetary proposals for 2003-04. The ... More

Choice for the customer
COMPETITION has shaken the insurance industry, both life and general. And the benefits to customers are beginning to trickle down in the form of greater choice. The first changes in the industry were triggered by setting up the Insurance ... More

Fresh norms for MF investment
INSURANCE companies can no longer park funds at their discretion in mutual funds even while adhering to the existing norms. Providing better clarity to the issue of investments by the insurers aimed at ensuring judiciousness to the investment ... More

NBFCS

RBI lowers NBFC deposit rates limit
THE Reserve Bank of India has lowered the maximum interest rate that non-banking finance companies (NBFCs) can offer on deposits to 11 per cent from 12.5 per cent, an RBI release said. The last time the central bank revised the interest rate ... More

LIFE INSURANCE

A secure old age
THE global population is rapidly aging, and more people are getting retired or will soon be. The Indian demographic structure has also undergone fundamental changes. The number of persons expected to live beyond the age of 60 is going up ... More

`Life' hinges on mortality
IF you think uncertainty over the future is the sole prerogative of the general public, forcing them to go in for insurance cover, while insurance players are well equipped to effectively tackle such uncertainties, think again. Even those ... More

GENERAL INSURANCE

The motor tariff question
A NEW chapter in insurance is set to be opened by the end of this month once the Justice TNC Rangarajan Committee on de-tariffing motor insurance business submits its report. The deadline for the panel to come out with its suggestions expires on ... More

DEBT MARKET

Gilts: Volatility management is key
With interest rates on a secular downtrend, it was a risk-free ride for gilt investments in particular, and bonds in general. More

RBI & OTHER CENTRAL BANKS

WMA limit raised 19 pc — RBI allows States 14-day overdraft
IN view of the fiscal stress being faced by the State Governments, the Reserve Bank of India (RBI), has decided to give higher advances to them under its `Ways and Means Advances' (WMA) facility. Under the revised scheme announced today, based ... More

PRIVATE BANKS

ICICI Bank adopts 8-to-8 schedule
WHEN the nationalised banks introduced extended working hours and Sunday banking, it was a mere extension of banking hours by an hour or two, to tackle the onslaught posed by the tech-savvy new generation banks. Now, ICICI Bank has decided on ... More

PUBLIC SECTOR BANKS

SAIL takes up debt recast with SBI
STEEL Authority of India Ltd (SAIL), the largest public sector steel producer in the country controlling around one-third of the country's steel production, has taken up the issue of replacing its high-cost debts with cheaper loans with its ... More

GOVT BONDS

Gilts buyback plan will lead to better provisioning
It aims at rationalisation of policies in various sectors to strengthen the country's competitiveness in the globalised economy. The focus of the Budget is in line with the developmental objectives. The proposals relating to the banking ... More

CORPORATE BONDS

IDBI Flexibonds issue at reduced rates
INDUSTRIAL Development Bank of India (IDBI) has announced the 18th issue of its retail debt instrument, Flexibonds, with reduced yields. The institution has slashed interest yield by 25 basis points on the most popular infrastructure ... More

FIXED DEPOSITS

BoB trims deposit rates
BANK of Baroda (BoB) has cut interest rates on domestic term deposits by 25 to 75 basis points across maturities, effective March 10. The bank has ascribed the deposit rate cut to `realignment of interest rates' following the recent cuts in ... More

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