The Hindu Business Line : Wednesday, December 31, 2003

Reality check on the real economy
SURPLUSES are turning into plenty. Forex reserves have crossed $100 billion and look set to continue rising through 2004. A virtuous cycle is in motion: the economy is performing, even outperforming, exports are booming (though still far behind ... More

FOREX

CCIL to start cross currency settlement
CCIL has invited bankers to a presentation on the same in the second week of January to get their feedback and plans to launch operations by first week of April 2004. More

Rupee volatile; gilts range-bound
MUMBAI: The rupee saw much volatility on Tuesday with 15 paise movement intra-day. It ended the day seven paise higher at 45.56 in its value against the dollar compared to Monday's close of 45.6450/65. The currency opened the day at ... More

PUBLIC SECTOR BANKS

Corporation Bank to pay 30 pc interim
THE board of directors of Corporation Bank has proposed an interim dividend of 30 per cent for the financial year 2003-04 at a meeting held on December 29, subject to approval of the Reserve Bank of India. A press release by the Deputy General ... More

Union Bank opens ATM in Chalai branch

FINANCIAL INSTITUTIONS

`No plan to turn Cholamandalam Financial into bank'
CHOLAMANDALAM Financial Services Group (Cholamandalam FSG), the Chennai-based non-banking finance company (NBFC) from the Rs 4,200-crore Murugappa stable, has said converting the NBFC into a bank "could be an option" but "there is no proposal as ... More

KFC prunes interest rates
THIRUVANANTHAPURAM: With a view to boost industrial development and generate employment, the public sector Kerala Finance Corporation (KFC) has announced reduced rates of interest on various loan schemes. As per the dispensation, new ... More

GOVT BONDS

RBI announces auction, OMO for early Jan
THE Reserve Bank of India has announced an auction and an open market operation (OMO) in the first week of January 2004. A Rs 5,000-crore Government of India price-based auction has been announced for January 6 of the 7.38 per cent 2015 ... More

TRADE & LABOUR UNIONS

State Banks' staff union scoffs at new labour laws
THE second triennial general council of the State Banks' Staff Union (SBSU), Kerala Circle, which got over here on Monday, resolved to press the Centre with its major demands for withdrawing recent amendments to labour laws and legislating afresh ... More

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