MONEY & BANKING
CREDIT POLICY
Investing abroad under the raised cap
Both capital account and current account transactions are allowed under the liberalised remittance scheme, which allows a range of investments abroad by a resident Indian — from buying foreign stocks to acquiring property and trading in stock/c ommodity futures overseas.
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FINANCIAL PERFORMANCE
Allahabad Bank Q4 net down at Rs 125.7 cr
Full-year profit higher at Rs 750 crore
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MONETARY POLICY
$100,000 limit puts hedge funds within reach of Indian investors
Governments and regulators worldwide are acknowledging the need for hedge funds to impart liquidity and refine the pricing system in stock markets. But guidelines on their marketing will need to be drawn up carefully, so that investors are adequately appraised of the associated risks.
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INTERVIEW
Appreciating rupee: `Exporters better advised to book a forward cover'
The rupee has been witnessing significant appreciation against the US dollar. How should the corporates react to the accentuated currency movements? "Importers are better advised to wait for any hedging strategy since they may actually end up ...
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CO-OPERATIVES
Directive against erring finance cos
The Reserve Bank of India has asked urban co-operative banks not to deal with 918 non-banking companies in Bihar, which are listed as "defaulted companies". The directive follows an order issued by the Patna High Court on April ...
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PEOPLE
New UBI Field General Manager
Mr P.Y. Nagar has taken charge as Field General Manager of the Chennai zone of the Union Bank of India (UBI). He would oversee operations in Andhra Pradesh, Karnataka, Kerala and Tamil Nadu. ...
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