The Hindu Business Line : Thursday, May 01, 2003

Forwards plunge; gilts recoup on MF buying
Mumbai: FORWARD premia lost drastically by close to 25 basis points on Wednesday to touch all-time lows. However, the fall in forward premium is not related to the Bank Rate cut announced in the Credit Policy, said dealers. The decline has ... More

INSURANCE

Insurers may be taken off gilts buyback plan
LIC has already been knocked hard by the softening yields. Its average yield on investments is now less than 9 per cent, the lowest in a decade and income flows from investments have also been falling. More

STOCKS

ICICI Bank down on selling pressure
THE share price of ICICI Bank came under heavy selling pressure on Wednesday, falling six per cent on the bourses as institutional investors off-loaded the Bank's shares in the day's session. The bank's stock fell 6.65 per cent on the BSE, ... More

CREDIT POLICY

Credit Policy hailed
HYDERABAD: Karvy Consultants Ltd, the Hyderabad-based leading provider of financial services, has hailed the Credit Policy announced by the Reserve Bank of India on Tuesday. While conducting a seminar on the Credit Policy within six ... More

FAPCCI welcomes Credit Policy
HYDERABAD: The Federation of Andhra Pradesh Chambers of Commerce and Industry (Fapcci) has welcomed the measures announced to improve the credit delivery mechanism and ensure continuation of the soft interest rate system in the Credit ... More

HOUSING FINANCE

Corpn Bank lowers home loan rates
AS part of its attempts to rationalise the interest rate structure of its home loan portfolio, Corporation Bank has revised rates with effect from April 28. As a result, interest rates on home loans have come down in the case of two repayment ... More

LIFE INSURANCE

Lalit K. Dash is LIC Zonal Manager
HYDERABAD: Life Insurance Corporation of India (LIC) has announced that Mr Lalit K. Dash has taken charge as it Manager for the South Central Zone at Hyderabad. A post-graduate in Political Science, Mr Dash started his career in LIC ... More

PRIVATE BANKS

Bharat Overseas to prune corporate exposure
BHARAT Overseas Bank has identified rapid growth and reduction in corporate exposure as key objectives for the year ahead. Unveiling the financial performance for 2002-03 at a press conference today, Mr G. Krishna Murthy, Chairman, said ... More

PUBLIC SECTOR BANKS

Freedom for banks in swapping of branches
BANKS will be free to structure the terms and conditions for swapping branches in the rural and semi-urban centres as allowed in the RBI's credit policy announced on Wednesday. The central bank is unlikely to set any specific guidelines. The ... More

BoI net up 69 pc on interest income
BANK of India has recorded a 21.4 per cent growth in net profit at Rs 283 crore for the fourth quarter ended March 31,2003, as against Rs 90 crore in the corresponding period the previous year. During this period, total income went up to Rs ... More

Vijaya Bank net jumps 50 pc
STATE-OWNED Vijaya Bank reported its net profit for financial year 2002-03 jumped 50.2 per cent to Rs 196.56 crore from Rs 130.90 crore a year ago. Total business grew by 19.5 per cent in the last fiscal and stood at Rs 25,204 crore as on March ... More

INTEREST RATES

SBI takes lead, drops lending, deposit rates
STATE Bank of India, the largest bank in the country, has taken the lead in dropping lending and deposit rates on Wednesday following the cut in Bank Rate announced by the Reserve Bank of India on Tuesday. Other banks are expected to follow ... More

GOVT BONDS

Rate cuts provide buffer to bond market
THE monetary policy for the year 2003-04 has come out more or less as per market expectations. It is proactive and positive. The policy is in line with the initiatives taken by the Finance Minister in March this year. A 0.25 percentage points ... More

CREDIT CARDS & DEBIT CARDS

Trinethra plans expansion
TRINETHRA Super Market, the retail chain, would shortly launch a co-branded ICICI Bank-Trinethra credit card for its customers. The company has achieved a sales turnover of Rs 78 crore for the year ended March 31, 2003 and has set a target of ... More

TRADE & LABOUR UNIONS

Bank officers' demonstration

Comments & Letters to the Editor to: bleditor@thehindu.co.in
Subscribe to: Business Line