MONEY & BANKING
INSIGHT
Bank reform and the rural sector
Internal financial liberalisation has had adverse effects upon the availability of credit for farmers, adding to the various economic sources of agrarian distress. In this edition of Macroscan, C. P. Chandrasekhar and Jayati Ghosh< /B> consider the main elements of banking reform over the past decade and the implications for agricultural credit in particular.
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FOREX
Rupee up 7 paise
MUMBAI: The rupee closed seven paise higher on Monday at 45.62/63 as compared with previous close of 45.6950/7050 in its value against the dollar. The domestic currency opened at 45.68/70 but gained strength with the dollar weakening ...
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STOCKS
SBI jumps as FIIs hope for more headroom
STATE Bank of India stock on Monday witnessed increased buying on expectation that the Government would soon remove the bank's Global Depository Receipts (GDRs) from the foreign investment category, giving more room for FIIs to purchase the ...
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AGRICULTURAL INSTITUTIONS
Meet today on steps to bridge Nabard credit flow gap
THE financial weakness of co-operative banks in Tamil Nadu is among the reasons for the inadequate flow of credit in rural areas, according to the National Bank for Agriculture and Rural Development (Nabard). During 2004-05, the co-operative ...
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CREDIT RATING
A1+ rating for Hughes Escorts CP
ICRA has reaffirmed the `A1+' rating to the Rs 20-crore commercial paper (CP) programme of Hughes Escorts Communications Ltd (HECL). The rating indicating the highest safety in the short term, takes into account the company's dominant ...
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Nicholas Piramal, SPPL debt programmes reaffirmed `A1+'
ICRA has reaffirmed the `A1+' rating assigned to the Rs 200-crore and Rs 30-crore short-term debt programmes of Nicholas Piramal India Ltd (NPIL) and Sarabhai Piramal Pharmaceuticals Ltd (SPPL), respectively. The rating, indicating the highest ...
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RBI & OTHER CENTRAL BANKS
RBI warns States over mounting defaults
The warning from the central bank comes after a battery of complaints by several public and private sector banks over the mounting overdues from the States and the inability to recover these amounts.
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PUBLIC SECTOR BANKS
Govt rejects banks' plea to return capital
The Ministry of Finance today clarified that the decision to disallow the banks' plea to return capital has been taken in view of the fact that some of them might have to actually increase their capital base due to the requirements under the ...
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Syndicate Bank to raise Rs 100 crore via bonds
AIMED at strengthening its capital to risk assets ratio, Syndicate Bank is planning to raise funds to the tune of Rs 100 crore under the category of tier-II capital by way of issue of subordinated bonds. "The idea is to ensure that increased ...
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NON-PERFORMING ASSETS
Delay in debt revamp plan holds up Duncans' recovery
STATE Bank of India is yet to clear the debt restructuring programme of the ailing Duncans Industries Ltd. As a result, the company is unable to reopen its fertiliser unit, finalise its accounts or sell any of its tea gardens. According to ...
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CREDIT MARKET
`Kerala banks lead southern States in credit disbursements'
BANKS in Kerala extend credit to more number of people, as the number of credit accounts per thousand population in the State is higher than that of other southern States. The number of credit accounts in Kerala per thousand population was 118 ...
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Cross Currency Rates
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