The Hindu Business Line : Saturday, October 01, 2005

Tread warily on MFI loans; but spare a thought for rural poor
MFIs have access to collateral free, soft interest loans that comes with almost no conditionalities — on an unlimited scale today. The money mela of MFIs in the rural areas looks more than a trifle scary. More

COURTS/LEGAL ISSUES

HC voids AGM proceedings of Tamilnad Mercantile Bank
THE Madras High Court has declared as null and void the entire proceedings of the last annual general meeting of the Tamilnad Mercantile Bank, held on December 24, 2004 in Tuticorin. The court, which heard a contempt petition filed by the ... More

FOREX

Current account balance turns negative again
THE current account balance, which turned in a modest surplus in the quarter ended March 2005, has turned negative again. For the quarter ended June 2005, current account deficit was about $6.2 billion. Robust increases in both merchandise ... More

Forex reserves dips $4.3 b on currency devaluation
CURRENCY devaluation has accounted for a decline of $4.3 billion in the foreign exchange reserves of the country between April and June 2005, against $1 billion during the corresponding period in the previous year, said a press release from the ... More

HOUSING FINANCE

Housing loans may be excluded from priority sector lending
HOUSING loans may no longer be eligible to be considered under the category of priority sector lending by banks. A working group set up by the Reserve Bank of India to review the priority sector lending norms has excluded housing loans from ... More

HDFC property show begins in Hyderabad
HOUSING Development Finance Corporation Ltd (HDFC) is organising a three-day exclusive property show `Budget Homes' at Jaya Gardens on the Raj Bhavan Road here from Friday. The fair showcases over 70 housing projects of more than 30 leading ... More

GENERAL INSURANCE

Settle flood claims soon, says Deshmukh
THE Maharashtra Chief Minister, Mr Vilasrao Deshmukh, has made an appeal to insurance companies to settle all the claims arising out of the recent floods in the State at the earliest. Mr Deshmukh said the State had suffered losses of about Rs ... More

HUMAN RESOURCES

`Trained manpower, big challenge for insurers'
FINDING trained manpower could be a major challenge for the insurance industry in the coming days. According to Mr Rajendra Beri, CMD, New India Assurance and President, Insurance Institute of India, the institute would have to address, in the ... More

PUBLIC SECTOR BANKS

Banks told to work extra hours today
THE Indian Banks Association has directed all public sector banks to remain open on Saturday for at least one hour more than the official timing to deal with public. The IBA missive comes a day after the Finance Minister, Mr P. Chidambaram had ... More

Syndicate Bank renews pact with Oman co
BANGALORE: Syndicate Bank has renewed its two-decade-old management contract with the Oman-based Musandam Exchange for another three years, said a press release from the bank. ... More