The Hindu Business Line : Friday, November 14, 2003

Is it time for financial disintermediation?
THE level of non-performing assets (NPAs) in banks inspires a debate on the usefulness of financial intermediaries. Economic theory says that financial intermediaries are necessary to bridge the gap of asymmetric ... More

FOREX

Crisil sees rupee pausing at 45-46
THE Credit Rating Information Services of India Ltd expects the rupee to stabilise between Rs 45 and Rs 46 to a dollar, the company's Chief Economist, Dr Subir V. Gokarn, said here on Thursday. Dr Gokarn noted that this was a radical estimate, ... More

Rupee weakens; g-secs decline
MUMBAI: The rupee closed at 45.38 against the dollar on Thursday, slipping by a couple of paise as compared to Wednesday's close of 45.35/36. The domestic currency remained volatile through the day, slipping to touch an intra-day low of ... More

Exemption for RLF rupee funds to be phased out
THE Reserve Bank of India has decided to phase out the exemption for rupee funds raised under the Reciprocal Line Facility (RLF) from the prudential limits specified for call, notice money transactions. It would be phased out from the ... More

INSURANCE

Reinsurance rates softening
FOR corporates hamstrung by hardening insurance markets, there is a cause to cheer. Reinsurance markets worldwide have begun to soften. Indications are that some of the rates have already softened to below one per cent of the sum assured, the ... More

RBI & OTHER CENTRAL BANKS

Keep off unrated non-SLR papers, banks told
THE Reserve Bank of India has told banks that, henceforth, they may not invest in unrated non-SLR securities, and non-SLR securities of original maturity of less than one year, other than commercial papers and certificates of deposits. The RBI ... More

PRIVATE BANKS

ICICI Bank's move flayed
KOCHI: The United Forum of Bank Unions has expressed serious concern on the reported move of ICICI Bank to transfer the equities of Federal Bank and South Indian Bank, saying that it was against the interest of the State. A meeting of ... More

PUBLIC SECTOR BANKS

SBI to recast top brass — Associates, arms to come under MD
Sources contend SBI's plan is motivated by the consistent performance of its associates and subsidiaries, which has in large part contributed to the parent's growth in the recent past. More

ALLIANCES & JOINT VENTURES

Karur Vysya to market ECGC risk products
EXPORT Credit Guarantee Corporation (ECGC) has signed a MoU with Tamil Nadu-based Karur Vysya Bank Ltd, to enable the former to route marketing of its export credit/risk insurance products through the latter under the concept of ... More

SBI, UTI Bank to share ATMs
STATE Bank of India (SBI) and UTI Bank have signed a memorandum of understanding (MoU) for mutual sharing of ATMs. This arrangement is aimed at offering the customers of both banks the facility of using the combined network of ATMs, both ... More

STANDARDS & BENCHMARKS

Quality management system — Bank of India to go for ISO certification
BANK of India has invited sealed offers from reputed consultants for obtaining quality management system certification under ISO 9001 - 2000. The last date for receipt of the tender document is November 18 and the technical bid is expected to ... More

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