The Hindu Business Line : Friday, October 17, 2003

ICICI Bank Eurobonds oversubscribed 5 times
THE $300-million Eurobond issue of ICICI Bank has been oversubscribed by five times in the international markets. The issue received bids of over $1.5 billion on the opening day itself (on Wednesday). According to a press note from ICICI Bank ... More

FINANCIAL SERVICES

IIT Corporate Services to pull out of DP biz
THE shakeout in the realm of depository participants continues unabated. IIT Corporate Services, which traces its roots to the Premchand Roychand family, one of BSE's founding members, has decided to withdraw from the DP business, which will now ... More

FOREX

Rupee stronger by 38 paise; bonds rally
MUMBAI: The rupee rode high on the dollar wave on Thursday, soaring by a massive 38 paise to ascend to a strong position of 45.32/33 at close, as compared to its previous close at 45.69/70 on Wednesday. In fact, forward premia in a ... More

RBI should allow rupee to appreciate, says Assocham
THE Associated Chambers of Commerce and Industry (Assocham) has suggested that the Reserve Bank of India should allow the rupee to appreciate further instead of intervening actively in the forex markets thereby pushing up the reserves, as the ... More

INFORMATION TECHNOLOGY

IDBI Bank to adopt SAS credit risk tool
IDBI Bank has decided to implement SAS India's SAS Credit Risk Management Solution across its retail assets division. Mr Pramod Vaidya, Head Risk Management, IDBI Bank, said: "At IDBI Bank we were looking at enhancing our risk management ... More

SOFTWARE

Dhanalakshmi Bank picks i-flex for tech upgradation
THE private sector Dhanalakshmi Bank Ltd has picked up i-flex Solution for its technology banking initiative. The Dhanlakshmi Bank Managing Director and Chief Executive Officer, Mr B. Muthuswamy, said that the bank had selected Flexcube Dealer ... More

HOUSING FINANCE

NHB slashes lending rates
HOME loans may become cheaper still with the National Housing Bank (NHB) slashing its lending rates by 0.40-0.65 per cent, just two weeks before the Reserve Bank announces its busy season Credit Policy. The refinance rate (the rate at which NHB ... More

CONSUMER FINANCE

Canara Bank loan for tractors
MADURAI: The Canara Bank recently launched in the city its tractor-financing scheme for the farmers in the state to buy Swaraj tractors. Under the scheme, the bank would provide 95 per cent of the cost of tractor and accessories as loan ... More

LIFE INSURANCE

Birla Sun Life tops in group cover
BIRLA Sun Life Insurance Company has been ranked as the number one player in the group insurance business with a market share of 35 per cent, according to the latest IRDA statistics for the period up to August 31, 2003. The regulator's ... More

GENERAL INSURANCE

We need health booster, say TPAs
THIRD Party Administrators (TPAs) agree with the assessment of the IRDA Chairman, Mr C.S. Rao, that their industry is yet to stabilise, but they blame the public sector insurance companies for that. TPAs — the new intermediaries brought ... More

Cholamandalam MS to focus on retail, SME sectors
CHOLAMANDALAM MS General Insurance Company intends to focus on retail as well as SME segments, the company's Chief Executive, Mr Arun Agarwal, told journalists here today. Addressing a press conference held to mark the completion of the first ... More

CREDIT RATING

`Crisil rating methodology transparent'
WHAT are the criteria for rating a debt instrument? Are they confidential and known only to the issuer of the instrument and the rating agency? Crisil, the leading credit rating agency, says its criteria and rating methodologies are totally ... More

PRIVATE BANKS

Repay 25 pc to ICICI Bank by Oct 21, DRT tells Mardia Chemicals
THE Debt Recovery Tribunal of Mumbai has issued an order to Mardia Chemicals to pay up 25 per cent of the outstanding amount to ICICI Bank by October 21, 2003. This works out to roughly Rs 98 crore. Only after this amount is paid to ICICI ... More

CORPORATE BONDS

Centre seeks clarifications on Krishna project bonds
THE Union Ministry of Urban Development and Poverty Alleviation has sought clarifications from the Andhra Pradesh Government on the latter's proposal to issue Tax Free Bonds to the extent of Rs 225 crore for the Krishna drinking water supply ... More

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