The Hindu Business Line : Wednesday, March 24, 2004

INSIGHT
Modest inflation no cause for worry
AFTER a long time, India's headline inflation rate fell below five per cent last week. Is it a portent of better things to come? If there is a single factor, which has deterred the RBI from cutting interest rates, it is the stubborn behaviour ... More

Banks seek relaxation in norms for creation of IFR
According to bankers, the Government, being the largest stakeholder in banks, would be the largest beneficiary of the distributable profits. More

FOREX
Rupee breaches 45 level
THE unabated appreciation of the Indian rupee continues; on Tuesday, it breached the 45-level mark touching an over 44-months high taking several market participants and exporters by surprise. The domestic currency, which has been on an ... More

INFORMATION TECHNOLOGY
Steelage Ind to launch bank automation tools
STEELAGE Industries Ltd plans to launch bank automation products to minimise the risk of handling cash in a bank or an automated teller machine. It would launch a safe vault that uses a robot to dispense cash to a bank official. The cost of ... More

HOUSING FINANCE
HOME LOANS — A SPECIAL PERSPECTIVE
Beyond the threshold
Top players in the housing finance business contend that future trends will be determined largely by value-added services, not just interest rates. Rukmani Vishwanath finds out more. More

Fixed or floating?
`Is there more room for interest rates to fall?' is a question nagging most borrowers and one most bankers prefer not to answer. Poornima Mohandas surveys the scene. More

An `interest'ing study
Returns on equity are negatively impacting shareholder wealth and are, hence, unsustainable, finds a Crisil study. More

Buildingblocks
If the rise in the cost of cement and steel is not curbed, the average cost of freshly developed real estate would end up 8 per cent to 10 per cent higher than original estimates. More

CONSUMER FINANCE
Corporation Bank loan for Tanishq jewellery
CORPORATION Bank, Tanishq and World Gold Council (WGC) have entered into a tie-up to offer finance scheme to their customers for the purchase of gold jewellery. The arrangement — Tanishq/WGC - Corp Mahila Gold — will be promoted ... More

RBI & OTHER CENTRAL BANKS
RBI opens sales centre in Kochi
KOCHI: The RBI regional office here has started a Sales and Dissemination Centre (SDC) for sale of its various publications, which include the Annual Report on the working of the Bank, Report on Trend and Progress of Banking in India, ... More

PUBLIC SECTOR BANKS
BoI denies knowledge of BCCI frauds
BANK of India (BoI) has denied knowledge of frauds perpetrated by the Bank of Credit and Commerce International (BCCI), and maintains that they were normal inter-bank business transactions. BoI informed the Bombay Stock Exchange that it is ... More

FOREIGN BANKS
Citibank extends banking hours at Kochi branch
TO meet the growing needs from its customers in the city, Citibank has launched extended banking hours at its Kochi branch. In addition to the normal banking hours, its full service branch at Kochi will offer extended banking hours till 6.30 ... More

FINANCIAL INSTITUTIONS
IDFC to handle Rs 50,000-crore infrastructure fund
THE Infrastructure Development Finance Company (IDFC) is not only safe but would soon be given a pivotal role in the country's infrastructure funding need. While ruling out any plans for merger of the company with State Bank of India (SBI), the ... More

GOVT BONDS
Govt issues special bonds to liquidate oil pool account
THE Government has announced the issue of `5 per cent Oil Companies-Government of India Special Bonds, 2009' for liquidating the outstanding claims of oil companies aggregating Rs 348.63 crore against the Oil Pool Account. The special bonds ... More

Securities decline
MUMBAI: In the government securities market, prices fell by 10-30 paise on profit booking by foreign, domestic banks and mutual funds. Some indicative papers were the 8.07 per cent 2017 paper, which opened at Rs 123.95 and closed at Rs ... More

MERGERS & ACQUISITIONS
Legalspeak on IFCI merger with PNB
THE law is an ass, it is said. If that is so, you might choose to ride it or may be simply take it for a ride. Ask IFCI's legal department, they might have more such ideas on the utility of the law. Strange it might seem, but IFCI has managed ... More

INTERVIEW
`Insurance broking policies not conducive for growth'
MANY insurance broking firms privately lament that regulations are stifling. The recent changes in the regulations over how the brokers should be remunerated, have only added to their woes. Today, there are some 140 licensed brokers and it ... More