Financial Daily from THE HINDU group of publications
Tuesday, February 05, 2002
Forex Rates Feb. 4 (4.30 p.m. IST)
1 PoundRs 68.77
1 EuroRs 41.83
1 USDRs 48.52
1 YenRs 36.39
1 Sing $Rs 26.45

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RBI Report on Currency and Finance, 2000-01 -- Policy-makers vs econometricians
THE DECELERATION of the economic growth seems to be persisting. GDP growth rate declined from 6.6 per cent in 1998-99 to 6.4 per cent in 1999-2000, and further down to 5.2 per cent in 2000-01. The growth rate during the first half of 2001-02 at ... More


Re falls to new low at 48.63
UNEXPECTED dollar demand towards the close of trade on Monday pushed the rupee to its weakest at 48.62/63 to a dollar, 10 paise down from its previous close. Dealers said that there were some stray deals struck after closing hours even around ... More


CSO in talks with RBI on obtaining data from NBFCs
THE Central Statistical Organisation (CSO) is working out an arrangement with the Reserve Bank of India (RBI) to obtain timely data on the performance of non-banking finance companies (NBFC), which, it reckons, would generate more reliable ... More


Banks cement housing loans, boost offtake
CURRENT wisdom says housing would form the foundation for an economic recovery. If that is so, then banks appear to be financing all the "brick and mortar'' for building it. Over the past year, the housing finance (HF) portfolios of most banks ... More


LIC overseas expansion to span US, UK markets
THE Life Insurance Corporation of India Ltd (LIC) has chalked out plans to expand overseas. It has, accordingly, decided to open new offices in Sri Lanka, UAE (likely in Dubai), Oman, Mauritius (which will also take in some of the African ... More


Wind screen claims -- Shield Autoglass teams up with IFFCO-Tokio Marine
SPECIALITY glass repair and replacement company, Shield Autoglass Ltd, (SAL) has tied up with IFFCO-Tokio Marine for settling insurance claims related to wind screens, Mr Ratish Ramanujam, Chief Operating Officer, said on Monday. SAL which ... More


Better deal for the younger lot -- SBI to speed up promotions
STATE Bank of India (SBI) has suddenly woken up to the fact that its top management is not getting any younger and that there is an urgent need to infuse some "young blood'' into the organisation. To bring down the average age profile of ... More


  • CUB loan schemes


    Sun Micro bags PNB order
    BANGALORE: Sun Microsystems has announced that it has won a major order from Punjab National Bank. Sun will provide 15 of its Sun Fire range of mid-frame servers within the Ultrasparc III processors to power PNB's data centre, said a ... More


    G-Sec prices bullish
    THE rally in the bond market continued unabated with yields hitting new all-time lows as prices gained by around 30-40 paise over previous closing levels. However, profit-booking brought prices down by 20-25 paise from the day's highs to close ... More


    ICICI Safety Bonds issue from Feb 8
    ICICI is tapping the retail bond market for the eighth time this year with a Rs 600-crore offering of its safety bonds. The issue, which has a greenshoe option to retain over-subscription up to another Rs 600 crore, follows IDBI's second ... More


    Canara Bank recovery drive takes off
    CANARA Bank's `Can Adalat' has got off to a good start. In the last month, cash recovery by the Madurai Circle alone had crossed the Rs 30-crore mark, the Deputy General Manager and Madurai Circle Head, Mr J.S. Vasan, told Business Line. ... More


    JK Insurance in pact with Birla Sun Life
    JK Insurance Services Ltd has forayed into the insurance distribution business by tying up with Birla Sun Life Insurance Company. It is also planning to tie up with a non-life insurance company. Sources said that Tata AIG General Insurance ... More


    `Lakshmi Vilas to launch card soon'
    LAKSHMI Vilas Bank (LVB), the Karur-based old-generation bank, is currently in the process of leveraging its strengths to address the emerging opportunities. The bank plans to aggressively market both life and non-life insurance products to its ... More
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