The Hindu Business Line : Tuesday, July 06, 2004

FARM CREDIT
Bank loans, food for work: Cut the cackle
It is not a second Green Revolution that is needed; but ways to increase the purchasing power of the lower strata of people living in rural areas. More

FINANCIAL SERVICES

UTI Securities completes 10 yrs

PENSION PLANS
Raise exemption limit to Rs 40,000 says IRDA — I-T sops for pension investments urged
Lower tax benefits for pension investments relative to that for other kinds of investment such as housing property, life insurance policies and mutual funds is one important reason for the relative neglect of annuities in the country. More

FOREX
Rupee up 5 paise; securities rise
MUMBAI: The rupee closed at 45.82/84 on Monday, five paise above Friday's close of 45.87/89. Opening higher, the rupee lost its early gains as State-run banks started buying dollars on behalf of oil companies, dealers said. The ... More

Import cover of forex reserves at 17 months
THE Reserve Bank of India's investments in international securities increased to $35.02 billion for the financial year ended March 31, 2004, from $ 26.92 billion in the previous fiscal year. In its report on Foreign Exchange Reserves 2003-04, ... More

INFORMATION TECHNOLOGY
Tech lab to train bankers
THE Institute of Development & Research in Banking Technology (IDRBT) has announced the establishment of its technology demonstration lab powered by Cisco Systems at its campus in Hyderabad. This lab would help train all IDRBT, RBI and other ... More

STOCKS
Pvt bank stocks down on RBI draft guidelines
THE stocks of most of the private sector banks closed lower on Monday after RBI draft guidelines on ownership of these banks were issued last week. Brokers said these guidelines were unexpected and looks unrealistic. "If these guidelines are ... More

PRIVATE BANKS
ICICI Bank awaits RBI norms to decide on stake cut
ICICI Bank will take a view on reducing its stake in Federal Bank and South Indian Bank once the RBI's guidelines on ownership of private banks are finalised. "If the guidelines are adopted and if the RBI asks us to bring our holding below 5 ... More

Dr Kotaiah quits GTB board

CREDIT MARKET

Credit disbursement in Thiruvananthapuram dist

TRADE & LABOUR UNIONS
SBI staff federation call for protest
THE members of the State Banks' Staff Union (SBSU) have been told by the All India State Bank of India Staff Federation (AISBISF) to be ready for strikes, as the management has failed to relent on its demands for improving workmen staff ... More

CO-OPERATIVES
High-level probe into APCOB
`Between 1995 and 2004, the APCOB's board of management disbursed Rs 13.84 crore to 23 organisations that were in no way connected with agriculture and allied activities.' More

PEOPLE

Central Bank transfers

Cross Currency Rates

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Raise exemption limit to Rs 40,000 says IRDA — I-T sops for pension investments urged

CMP does provide room for reform: Montek

`Sensex may touch 7,000-mark in six months'

When farm technology falls short of expectations

Record cotton output hopes putting pressure on prices

Five traditional items push export growth

Looking back
Jun. 27-Jul. 3
Forex reserves rise by $587 m

Bonds under pressure on forex outflows, inflation