The Hindu Business Line : Friday, September 05, 2003

STCI plans to enter funds management biz
SECURITIES Trading Corporation of India Ltd (STCI) plans to diversify its role by entering the portfolio advisory and portfolio management services space. "We will be applying to the Securities and Exchange Board of India for a licence and is ... More

FOREX

Rupee weak; gilts up
MUMBAI: The rupee closed a shade weaker in the forex market on Thursday at 45.93 per dollar, as against the Wednesday's close at 45.9250. The domestic currency opened at 45.91/93. Dealers said, the domestic currency was driven to an ... More

HOUSING FINANCE

HDFC to focus on smaller cities for growth
HDFC plans to increase focus on smaller cities - non-metros and B and C cities — to fuel its growth this year and in the near future. Revenues from smaller cities now account for half of our annual revenues and these cities will be a ... More

LIC Housing Fin targets Rs 1,200-cr disbursals in TN, Kerala
THE LIC Housing Finance Ltd (LICHFL) hopes to disburse about Rs 1,200 crore as home loans in Tamil Nadu and Kerala during the current fiscal which would be about 30 per cent more than what it disbursed last year. The interest rate on home ... More

HDFC opens 4th branch in Bangalore

Home loan mela from today

LIFE INSURANCE

MetLife in pact with Dhanalakshmi Bank
METLIFE India Insurance and Dhanalakshmi Bank announced the launch of DhanamLife, a term product specifically designed for account holders of the Thrissur-based bank. Speaking at the launch here on Wednesday, Mr Venkatesh Mysore, Managing ... More

LIC launches Jeevan Shree I in Madurai
THE Life Insurance Corporation of India (LIC) has launched its new product `Jeevan Shree I' in a function held here recently. According to the Senior Divisional Manager, Mr P. Annadurai, the scheme is intended to allay the fears of uncertainty ... More

GENERAL INSURANCE

CARE Hospital, NIC in tie-up for health cover
CARE Hospital, the Hyderabad-based multi-speciality services provider, has entered into a strategic alliance with National Insurance Company Ltd (NIC) for providing a tailor-made health plan to its patients at a `highly affordable cost' of Re 1 ... More

PSU general insurers may overshoot cost caps on VRS outflows
PUBLIC sector general insurance companies are expected to overshoot the statutorily prescribed management ratios after the implementation of the voluntary retirement scheme (VRS) in the current fiscal. Sources here said that the management ... More

PUBLIC SECTOR BANKS

Corpn Bank relief donation

NON-PERFORMING ASSETS

Indian Bank tops in debt recovery
The bigger banks would get a second chance to show their prowess and make amends for their initial lethargy as the OTS scheme has since been extended to December 31. More

Order to recover dues from Empee Distilleries stayed
THE Debts Recovery Appellate Tribunal has stayed an order by the Debts Recovery Tribunal I at Chennai on an interim application of Industrial Development Bank of India, Chennai, demanding recovery of dues from the Chennai-based Empee Distilleries ... More

FIXED DEPOSITS

Bank deposits grow, never mind rate cuts
OVER the past two years, interest rates on term deposits in banks have dropped four percentage points from levels of around 10 per cent (for a three-year deposit) to around 6 per cent currently for a similar term. You might have thought that ... More

CO-OPERATIVES

`Coop bank deposits insured'

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