MONEY & BANKING
INSIGHT
Oil uncertainty hits markets
THINGS are gradually getting worse. There has been spate of terrorist attacks in Saudi Arabia, the world's biggest oil producer and also custodian of the largest reserves. The violence in Iraq is unabating, where the Americans seem to have ...
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FOREX
Rupee up 4 paise; securities weak
MUMBAI: The rupee closed stronger on Tuesday by four paise at 45.42/43. On Monday, the domestic currency closed at 45.46/47. The gain is after a gap of nearly a week. The market demand was rather limited on account of month beginning, ...
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HOUSING FINANCE
Tool to scan database of `litigation' properties
AS banks attempt to recover the assets of defaulters, they find that a good number of properties have litigations that were not disclosed at the time of lending. According to the banking industry experts and senior officials of the Reserve Bank ...
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CONSUMER FINANCE
LPG connection finance scheme from United Bank
UNITED Bank of India has introduced a special scheme under Nabard's refinance facility for financing LPG connections in rural areas. The scheme covers the cost of supplying a regulator, a cylinder and accessories and a burner stove. The ...
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LIFE INSURANCE
Amway to market life insurance products
AMWAY India, which has made its mark in the direct selling arena, is all set to enter the insurance sector by September. It is in talks with a leading insurance company to sell its life insurance products which would be marketed under the brand ...
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PRIVATE BANKS
FIIs holding in ICICI Bank falls
THE Reserve Bank of India has notified that Foreign Institutional Investors (FIIs) can purchase shares of ICICI Bank Ltd in the secondary market under the portfolio investment scheme. A release from the Reserve Bank of India said, "The ...
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PUBLIC SECTOR BANKS
SBT hikes NRE deposit rates
STATE Bank of Travancore (SBT) has increased the interest rates for NRE term deposits with effect from June 1. The revised rate for deposits of one year to less than two years is 2.10 per cent, for two years to less than three years 2.90 per ...
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FOREIGN BANKS
StanChart open to subsidiary route
STANDARD Chartered Bank is looking for more operational flexibility in India and is toying with the idea of converting itself into a subsidiary. The move comes amidst rising competition and its ambition to retain its position as the largest ...
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CREDIT CARDS & DEBIT CARDS
StanChart feels the heat of card defaults
ON account of high delinquency in its credit card portfolio, Standard Chartered Bank has almost tripled its bad debt provisioning to $ 59 million or Rs 265.5 crore as on December 2003, up from $ 21 million or Rs 94.5 crore in the previous ...
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Cross Currency Rates
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