The Hindu Business Line : Saturday, September 07, 2002

Rupee falls sharply; gilts down
Mumbai: THE rupee lost 11 paise against the dollar on Friday following reports of air attacks on Iraq. The rupee closed at 48.5925/60 against the dollar as compared to Thursday's close of 48.48 in the forex market. With news reports coming in ... More

Currency exchange counter at Kochi RBI office
FROM September 9, the Reserve Bank of India will open a permanent coin and currency exchange counter at its Kochi office. The general public can exchange old, soiled and defective currencies at this counter for fresh ones, a release from ... More

INSURANCE

Insurance cos to get nod for investing in derivatives
INSURANCE companies are soon to be allowed to invest their funds in swap and other derivative products. The Insurance Regulatory and Development Authority (IRDA) is considering making amendments to the investment regulations to pave the way for ... More

LIFE INSURANCE

SBI Life unveils two new products
SBI Life Insurance Company Ltd (SBI Life) today launched two new insurance products, a home loan group insurance policy and an endowment plan "Sudarshan''. Addressing a news conference here, Mr R. Krishnamurthy, Managing Director and CEO, SBI ... More

GENERAL INSURANCE

PSU insurance cos cancel long-term accident schemes
IN a major blow to lakhs of personal accident policyholders across the country, the four public sector general insurance companies — National Insurance Company Ltd, Oriental Insurance Company Ltd, United India Insurance Company Ltd and New ... More

Back move to detariff motor insurance sector
THE Insurance Regulatory and Development Authority's (IRDA) teasers for detariffing motor insurance business is receiving wholehearted support from the public sector general insurance companies which feel that the move would go a long way in ... More

FOREIGN DIRECT INVESTMENT

Panel for 100% FDI in petroleum, banking
THE Steering Committee on Foreign Direct Investment (FDI) headed by Mr N.K. Singh has recommended increasing the FDI in the petroleum sector, including refining, marketing and exploration along with banking and financial services to 100 per cent. ... More

RBI & OTHER CENTRAL BANKS

Up to $50,000 allowed for medical treatment abroad
THE Reserve Bank of India has decided to allow authorised dealers to release foreign exchange of up to $50,000 to Indian residents for medical treatment outside India, on the basis of a declaration of requirement given by the ... More

RBI prunes EEFC account categories
THE Reserve Bank of India has said that henceforth there will be only two categories of EEFC account holders. One category is those who can retain up to 100 per cent of their receipts in foreign exchange and others who can retain up to 50 per ... More

Repayment period of loans from relatives abroad reduced
INTEREST-FREE loans up to $ 250,000 that Indian residents might borrow from relatives living abroad, can now be repayed after a minimum period of one year as against a minimum period of seven years previously. RBI has allowed this to simplify ... More

FINANCIAL INSTITUTIONS

REC in pact with Centre

GOVT BONDS

Are tax-free bonds necessary?
THE Finance Ministry is keen on swapping its high cost borrowings with low cost paper while at the same deciding to borrow from the market (Oct.1) at yields out of alignment with market trends. The 6-year Government of India tax-free bond bears a ... More

Govt to launch 7 pc tax-free bonds on Oct 1
THE Government of India will launch 7 per cent tax-free bonds without any monetary investment limit from October 1. The bonds, which are to be issued for a minimum face value of Rs 1,000 and multiples thereof, will have a lock in period of six ... More

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`E-courts' in metros from next year

Yamaha to outsource bikes from Indian arm

Virus alert from IBM

PSU insurance cos cancel long-term accident schemes

Air India may join `One World'; more slots in London likely

In Depth
Gender Justice

Simple Economics

Small Investor

Looking back
Aug. 25-Aug. 31
RBI Web site to detail gilt deals soon

Insurance industry in crisis: IRDA chief

Rs 1.5 lakh cr locked up in litigations

RBI may permit banks to issue standby LCs

New IRDA motor norms may add to insurance cos' woes

Solar-powered ATMs?

Why do banks neglect the farm sector?

RBI annual report 2001-2002 — Economic climate may force RBI to change stance