The Hindu Business Line : Sunday, June 08, 2003

Forex reserves up $513 m
FOREX reserves of the country have risen by another $513 million for the week ended May 30, 2003, taking the total reserves to $81.329 billion from $80.816 billion in the previous week. Reserves have been augmented by a good amount of ECB money, ... More

HOUSING FINANCE

PNB Housing Finance: Take shelter for now
THE fixed deposit scheme of PNB Housing Finance is open for investment. The interest rate offered is higher than that of housing finance companies such as Can Fin Homes. However, an investment beyond one year ... More

LIC agrees to cut lending rates to home finance arm
LIC Housing Finance Ltd (LICHFL) has negotiated for a reduction in borrowing costs from its parent, Life Insurance Corporation of India. Speaking to presspersons here on Saturday, Mr S.C. Jain, Chief Executive of LIC Housing, said the parent ... More

GENERAL INSURANCE

Reliance claims it met IRDA's rural obligations
RELIANCE General Insurance Company Ltd, which has been slapped with a Rs 2 lakh fine for not meeting its rural area obligations, is understood to have told the Insurance Regulatory and Development Authority (IRDA) that "it was a communication ... More

National Insurance ties up with Bharat Overseas Bank
THE National Insurance Company Ltd, which has pipped United India to the second slot in terms of premium income during the first two months of the current fiscal, has signed a MoU with Bharat Overseas Bank Ltd (BhOB) for distribution of its ... More

PUBLIC SECTOR BANKS

BoB to triple online ATMs in Delhi
BANK of Baroda's northern zone, which has registered a record net profit of Rs 181 crore during 2002-03, is planning to triple its online ATMs and provide international debit cards in Delhi next week. According to Mr B.A. Prabhakar, Deputy ... More

IOB approves return of capital

FINANCIAL INSTITUTIONS

SIDBI issues bonds on pvt placement basis
SMALL Industries Development Bank of India (SIDBI) has launched an on-tap issue of capital gains bonds on private placement basis. SIDBI has raised the interest rate applicable on these bonds to 5.50 per cent per annum from the present rate of ... More

GOVT BONDS

G-secs buyback by July
THE Central Government's proposed buyback of Government securities worth Rs 82,000 odd crore is likely to start in July this year. "The software required for the live auction of the 24 securities identified for the buyback is not in place yet ... More

NON-PERFORMING ASSETS

Sharp increase in DRT recoveries
RECOVERIES made through debt recovery tribunals increased to Rs 3,252 crore during 2002-03 from Rs 2,153 crore registered in the previous year. According to an official statement, for the first time, the number of cases disposed off has ... More

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