The Hindu Business Line : Saturday, August 30, 2003

Forward cover must for FCNR loans
BANKS have imposed forward cover as criteria for disbursement of foreign currency loans to corporates in bid to contain unhedged exposures. Sources said here that the several corporates, both medium and large, had availed of FCNR (Foreign ... More

Rising auto exports add to forex kitty
With auto majors such as Hyundai, Tata Motors and Maruti charting out aggressive export plans for the current fiscal, automobile exports are expected to see higher growth this year. More

Rupee holds steady; bond prices fall
MUMBAI: The rupee closed at 45.85/86 against the dollar on Friday, almost similar to Thursday's levels at 45.86/87. The domestic currency opened at 45.84 and was driven down to an intra-day low of 45.89 on the back of a heavy bout of ... More

INFORMATION TECHNOLOGY

SBI to computerise all branches in Bengal by March
The not-so-satisfactory progress in computerisation in Bengal Circle is not without reasons though. Full computerisation could not be achieved without closing down some of the branches but closure decision was unwelcome in the State. More

NBFCS

Funding agencies bet on NBFCs
"For the Western development finance companies, there are not many opportunities in India. Infrastructure is not happening, there is not such a great demand from the manufacturing sector. Their best options are, therefore, in financial intermediation ." More

HOUSING FINANCE

Home loan utsav at Hyderabad

LIFE INSURANCE

HDFC Standard Life eyes Rs 300-cr biz
HDFC Standard Life Insurance is aiming to generate Rs 300 crore in new business premium during the current financial year against Rs 132 crore during 2002-2003. Mr Paresh Parasnis, General Manager (Distribution), said here on Friday that the ... More

PRIVATE BANKS

Dhanalakshmi Bank to pay 15 pc dividend
DHANALAKSHMI Bank Ltd has approved a dividend of 15 per cent to its shareholders. At the annual general meeting of the bank held at Thrissur on Friday, the Board Chairman, Mr Varadachary, said that the bank had recorded an impressive growth of ... More

5 banks granted extension

PUBLIC SECTOR BANKS

Union Bank to open 3 branches
THE regional office of the Union Bank of India is planning to open three more branches, one here and the other two at Srikakulam and Rajahmundry, during the current financial year besides five ATMs in the city. The regional office covers the ... More

Canara Bank extends waiver of loan processing fee
Canara Bank has decided to extend the complete waiver of processing fee on housing loans and other personal loans till the year-end. In a press release here on Friday, the bank said this measure, coupled with the latest reduction in housing ... More

SHORT TERM INSTRUMENTS

IL&FS raises Rs 25 cr
INFRASTRUCTURE Leasing and Financial Services Ltd (IL&FS) has raised Rs 25 crore through a one-year commercial paper programme. The debt instrument has been placed with a mutual fund at 5.02 per cent per annum. IL&FS debt products typically ... More

SECURITISATION

`Asset-backed securities market to grow 40-50 pc'
The research-cum-rating body expects the asset backed securities market in the country to grow at around 40 to 50 per cent over the next few years. Mortgage backed security issuances are expected to double in volumes within the next two ... More

EVENTS

Banks in talks with RBI to revise norms
THE Indian Bank's Association is in talks with the Reserve Bank of India to amend some old and outdated guidelines. Speaking at the fifty-sixth annual general body meeting of the Association, Mr H.N. Sinor, Chief Executive, said, "There are old ... More

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