The Hindu Business Line : Tuesday, April 01, 2003

BoP surplus doubles to $6.11 b
THE country's balance of payments (BoP) surplus during the October-December 2002 period almost doubled to $6.11 billion from $3.62 billion during the corresponding period in 2001, according to RBI data. The current account balance surplus was ... More

Rupee at 19-month high
Mumbai: THE rupee continued its rally against the dollar on the back of prolonged war in Iraq and good dollar inflows. The domestic currency gained over 8 paise against the dollar to end at a 19-month high of 47.4650/4750 in the local currency ... More

Remittances by Indians in UAE on the rise
CONCERNS about the long-term impact of the ongoing war in Iraq, coupled with the strong rupee that is making deposits in the Indian currency more attractive, have combined to hike up remittances by Indian expatriates in the UAE, according to bank ... More

INFORMATION TECHNOLOGY

e-transfer of inter-bank funds from today
THE Reserve Bank of India, in conjunction with banks, has embarked upon a scheme that would enable safe, secure and same-day electronic transfer of funds across the country. To be introduced from April 1, the Special Electronic Fund Transfer ... More

LIFE INSURANCE

`Max NY Life stays focused on quality '
THE Chief Executive Officer and Managing Director of Max New York Life, Mr Anuroop `Tony' Singh, has reaffirmed that the company's vision is to emerge as the most admired company in this space and "not necessarily the largest". The company is a ... More

RBI & OTHER CENTRAL BANKS

Report, reforms & RBI
THE Report on Currency and Finance 2001-02 from the RBI starts with a queer insert: "The findings, views, and conclusions expressed in this Report are entirely those of the contributing staff of the Department of Economic Analysis and Policy ... More

FINANCIAL INSTITUTIONS

ECGC premium income up 11 pc
THE Export Credit Guarantee Corporation's (ECGC) premium income for the current year has increased by 11 per cent, to Rs 375 crore, compared to Rs 338 crore last year. However, claims settled continue to be higher than the premium ... More

INTEREST RATES

`No matching response on interest rates'
SLOW and inadequate response by banks to RBI's signals on interest rate revisions has blunted the efficacy of its monetary policy. This was admitted by RBI itself in its annual report on `Currency and Finance' released today. The report said ... More

GOVT BONDS

`OMO as liquidity tool faces constraints'
THE Reserve Bank of India may find it difficult to use open market operations (OMO) on an ongoing basis to regulate liquidity in the system. Under the OMO, RBI buys or sells issues Government securities to suck up excess liquidity. In its ... More

NON-PERFORMING ASSETS

RBI moots non-fund-based activities to boost profitability
Banks need to make concerted efforts to improve profitability by diversifying their businesses, especially into non-fund-based activities," the RBI report said. More

KSIDC settlement offer

ALLIANCES & JOINT VENTURES

PNB board okays tie-up with Principal
PUNJAB National Bank (PNB) has decided to have a tie-up with the US-based Principal Financial Group for its asset management business. The move follows the recent snapping of ties between Principal Financial and Industrial Development Bank ... More

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