Financial Daily from THE HINDU group of publications
Thursday, December 12, 2002
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Financial Daily from THE HINDU group of publications Thursday, December 12, 2002 |
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MONEY & BANKING FOREX 
Rupee touches one-year highTHE Indian currency closed at the year's high of 48.1450/1550 against the US dollar on Wednesday. Comparable levels of the currency were last witnessed on December 27, 2001, when the rupee closed at 48.18 against the greenback after which it ... More STOCKS 
Bank of Baroda gains as sentiment turns positiveTHE Bank of Baroda stock today touched its 52-week high of Rs 69 and closed slightly lower at Rs 68.50 on the Bombay Stock Exchange. The stock is riding high on expectations of a significant improvement in the recovery of its NPAs. The stock ... More NBFCS Australian bank seeks nod for NBFC AUSTRALIA-based South East Asia Bank has sought permission from the Foreign Investment Promotion Board (FIPB) to establish a wholly-owned non-banking finance company (NBFC) in India. The company, in its application filed with FIPB, has stated ... More HOUSING FINANCE Vijaya Bank cuts home loan rates VIJAYA Bank has slashed its interest rates on housing loans for both its short and long tenure varying from 100 basis points to 200 basis points and claims to offer the lowest interest rate. The revised rates came into effect from December ... More
Kerala Govt ties up with SBI for home loans to staff LIFE INSURANCE IRDA directs insurers to follow policyholder norms MOVED by the a number of grievances from the insurance policyholders that the insurance officers at the operating level were not adhering to the recent regulations on protection of their rights, the Insurance Regulatory and Development Authority ... More GENERAL INSURANCE ICICI Info to roll out insurance products ICICI Infotech Ltd, an information technology company promoted by ICICI Bank, plans to roll out its insurance product for Oriental Insurance Company in April. The first phase, which will cover about 400 offices of Oriental Insurance, is likely ... More DERIVATIVES MARKETS 
ING-Vysya structures $30-m interest corridor for pvt airlineTHE private sector ING-Vysya Bank has structured a $30 million interest rate corridor for the largest private sector airline company in the country. This is the second major deal being structured by the bank. ING-Vysya Bank sources confirmed ... More PUBLIC SECTOR BANKS Banks to park more funds in MFs MORE bank funds are expected to flow into mutual funds, as their exposure in the call money market will be further restricted from next week. According to money market dealers, large nationalised banks, the proverbial lenders in the call market ... More FINANCIAL INSTITUTIONS Banks wary of raw deal in IFCI recast WHILE the revival package for IFCI Ltd is nearing finalisation, there appears to be considerable disquiet among a section of the institutional shareholders of the FI which are collectively working on the contours of the bailout package. It is ... More
IFC lines up 10 cos for funding GOVT BONDS Securities lacklustre Mumbai: BOND prices moved in a ten paise range in an otherwise lacklustre government securities market on Wednesday. Dealers said that market players were wary about building positions in the wake of the RBI's impending announcement on the ... More NON-PERFORMING ASSETS Defaulters rush to banks — Takeover notices under Securitisation Bill for settlement of dues THE action under the Securitisation Bill by the bankers against major loan defaulters seems to have finally set things moving in Coimbatore region. Many banks, which slapped property take-over notices recently are being approached for a ... More SHORT TERM INSTRUMENTS Call money: Second stage of prudential limit from Saturday THE second stage of the prudential limits on the exposure of commercial banks in call/notice money market will commence on December 14. This is intended to reduce the dependence of players in the inter-bank call money market. In the second ... More FIXED DEPOSITS Banks told to make NRE rupee deposits unattractive THE Reserve Bank of India is understood to have `informally' asked the public sector banks to cut interest rates on non-resident external (NRE) rupee deposits, to make it unattractive for NRI customers. According to sources, RBI has expressed ... More MERGERS & ACQUISITIONS 
Vijaya Bank eyes northern peersThe Chairman of the Bank, Mr M.S. Kapur, while confirming the intention of looking at acquisition of a bank from the Northern region, declined to disclose the banks eyed. Punjab & Sind Bank, Bank of Punjab and Bank of Rajasthan are the likely ... More
Nedungadi merger: PNB won't take loss above Rs 35 cr TRADE & LABOUR UNIONS Plea on pension option KOCHI: The General Insurance Officers All India Association (GIOAIA) has urged the Government to allow employees in the public sector general insurance companies one more opportunity to opt for pension before the VRS scheme is ... More EVENTS CII seminar on insurance KOCHI: Confederation of Indian Industry (CII), Kerala is organising a seminar on `Insurance: the Secure Morrow' on December 17. The focus of the seminar will be to provide a platform for the different players of the insurance sector to ... More NEW PRODUCTS & SERVICES Federal Bank launches mobile alert THE Aluva-based Federal Bank has announced the launch of a comprehensive mobile alert services for all its bank customers. However, while both the competing banks are offering this additional facility at a cost, Federal Bank was offering the ... More Comments & Letters to the Editor to: bleditor@thehindu.co.in Subscribe to: Business Line |
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Top Stories In Focus Inside China Gujarat Elections In Depth Gender Justice Simple Economics Small Investor Looking back Dec. 1-Dec. 7 Rising non-performing assets — Bank officers urge Govt to act on war-footing RBI moots identification No. for bank customer PSU insurers await Govt nod to implement VRS Another VRS for banks under study New CRR norm puts banks off-balance GIC steps into global arena CVC steps in to calm bankers' loan paranoia Steep rise in foreign currency export credit during Apr-Nov |
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