The Hindu Business Line : Wednesday, October 27, 2004

COURTS/LEGAL ISSUES
CJ-led Bench to hear Federal Bank cases
THE writ appeal filed by Federal Bank Chairman, Mr K.P. Padmakumar, in the Kerala High Court challenging the stay order on the proceedings of the annual general meeting of the bank, was on Tuesday referred to a Division Bench headed by the Chief ... More

CREDIT POLICY
Trade welcomes policy; concerned over inflation
TRADE and industry circles have welcomed the RBI's Mid-Term Review Policy of Annual Policy Statement. According to Mr Ashwini Kakkar, President of the Bombay Chamber of Commerce and Industry, the mild increase in the repo rate by 25 ... More

FINANCIAL PERFORMANCE
Cholamandalam Investment net up in Q2
CHOLAMANDALAM Investment and Finance Company has reported a net profit of Rs 8.6 crore for the quarter ended September, compared with Rs 8.35 crore in the same quarter of last year. In a press release, Cholamandalam Investment has said that in ... More

NBFCS
Phasing out public deposits: A body blow to most NBFCs
THE Reserve Bank of India's move to ask non-banking financial companies to voluntarily phase out their acceptance of public deposits is now a ticking time bomb for about 750 small companies. Larger NBFCs are in a slightly better shape, given ... More

Willing to wound, afraid to strike
The credit policy has laid a roadmap for RNBCs. Will all these prevent them from accepting more deposits at high interest rates? More

HOUSING FINANCE
We want to keep a tab on housing loan sector: Reddy
THE Reserve Bank of India has been cautioning banks to ensure quality assets in their housing portfolio. In the mid-term review of its annual policy, the central bank has hiked the risk weight for housing loans. In an interview to Business ... More

RBI & OTHER CENTRAL BANKS
RBI raises risk weight on home loans
THE Reserve Bank of India has raised the risk weight that banks will have to assign on home loans to 75 per cent from 50 per cent and on consumer credit to 125 per cent from 100 per cent. . In the Mid-Term Review of the Annual Policy ... More

GOVT BONDS
Govt to go ahead with market borrowings
THE Finance Minister, Mr P. Chidambaram, today said that the Centre would go ahead with its market borrowings programme for the current fiscal, even as the cost of governmental borrowings is showing a rising trend. "We have to borrow what we ... More

Bond prices drop by as much as Rs 2
MUMBAI: THE bond market saw turmoil on Tuesday as prices plummeted up to Rs 2 on certain maturities, with yields touching two-year highs, post announcement of repo rate hike in the mid-term review of the Reserve Bank of India's annual ... More

MERGERS & ACQUISITIONS
Dutch co picks up equity in 2 Shriram group firms
THE Dutch development finance company, FMO, has acquired equity stakes of 3.95 per cent each in the two main truck-financing companies of the Chennai-based Shriram Group. At Rs 6,000 crore, the group's truck finance portfolio is the country's ... More