MONEY & BANKING
FOREX
Appreciating rupee continues to hurt exporters: FIEO
THE Federation of Indian Export Organisations (FIEO) said on Friday that the appreciating rupee against the US dollar continues to hurt exporters and has become a source of anxiety for them. In a statement, the Vice-President of FIEO, Mr Subash ...
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Rupee down 10 paise; gilts rise
MUMBAI: For the first time in over a fortnight, a good amount of dollar buying led to the rupee closing weaker by almost 10 paise on Friday, at 43.7350/7450 per dollar, against its previous closing levels on Wednesday, at 43.60/65. The ...
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LIFE INSURANCE
SBI Life looks to triple premium income
Even as the company is gearing up to ink bancassurance pacts with Union Bank of India and Indian Bank , plans are on to bring in more top corporates under the group insurance cover.
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GENERAL INSURANCE
Private general insurers' tariffs are lower than PSU counterparts
PRIVATE sector general insurance companies have extended undercutting of premiums into new segments in a bid to increase market share. The undercutting was in certain specific risk cover policies relating to strikes, riots and civil commotion ...
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RBI & OTHER CENTRAL BANKS
RBI says no ECBs for working capital
THE Reserve Bank of India has clarified that external commercial borrowings (ECB) cannot be raised for working capital, general corporate purpose and repayment of existing rupee loan purposes. The central bank has also clarified that the ...
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`OBUs can't offer forex accounts to residents'
THE Reserve Bank of India has decided that offshore banking units (OBU) in special economic zones will not be allowed to open foreign currency accounts of residents. Banks had been posting queries following the recent RBI relaxation ...
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PRIVATE BANKS
South Indian Bank posts 22% growth
THE Thrissur, Kerala-based South Indian Bank today said its turnover in 2003-04 grew by 22.5 per cent to Rs 12,929 crore, up from Rs 10,557 crore in the previous fiscal. Deposits of the bank in the year increased by 21 per cent to Rs 8,305 ...
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GOVT BONDS
91-day T-bills auction on April 7 — RBI to drain Rs 1500 cr via market stabilisation bonds
THE Reserve Bank of India has announced a Rs 2,000 crore auction of 91-day Government of India treasury bills to be held on April 7, 2004. Of this Rs 1,500 crore will be under the Market Stabilisation Scheme (MSS) and Rs 500 crore under the ...
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PUBLIC OFFER
ICICI Bank issue oversubscribed 109 pc
THE public offer from the private sector ICICI Bank has had good response in tune with market expectations. On the very first day, ICICI Bank's Rs 3,050-crore public issue with a greenshoe option of Rs 450 crore has been oversubscribed 109 per ...
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Cross Currency Rates
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