The Hindu Business Line : Friday, June 13, 2003

Rupee steady; gilts flat
Mumbai: THE rupee ended steady on Thursday at 46.68/69 per dollar, almost unchanged from Wednesday's closing at 46.6950/70. Dealers said regular dollar inflows drove the domestic currency to touch a high of 46.64, after which some dollar buying ... More

INSURANCE

IRDA nod for AFP courses
THE Association of Financial Planners (AFP) has received recognition from the Insurance Regulatory and Development Authority (IRDA) as its approved training & examining body. In a press release here on Thursday, AFP said it was the first ... More

STOCKS

Bonus, strategic tie-up talk lifts J&K Bank
THE stock of Jammu & Kashmir Bank (J&K Bank) was in the limelight on the bourses on Thursday, gaining almost ten per cent. And, once again it was speculation about the bank issuing a bonus and taking on a strategic equity partner that fuelled the ... More

FINANCIAL PERFORMANCE

Sundaram Finance net up; pays 75 pc
SUNDARAM Finance Ltd has reported a net profit of Rs 45.66 crore for 2002-03, compared to Rs 40.36 crore for the previous year. The board has recommended a dividend of Rs 7.5 per share (75 per cent). Addressing a press conference, the company's ... More

Centurion prunes net loss
CENTURION Bank, which is being taken over by the Rana Talwar-led Sabre Capital Worldwide, has reported a sharp drop in net loss for the quarter ended March 31, 2003 of 89.6 per cent to Rs 11.39 crore from Rs 109.66 crore in the corresponding ... More

HOUSING FINANCE

StanChart cuts home loan rates for Pune residents
TO cater to the growing need for housing in Pune, Standard Chartered Bank has dropped its home loan rates from the present 8.75 per cent to 8.20 per cent. Talking to presspersons, Mr M.N. Murali, General Manager and Head, Home Loans, Car Loans ... More

CREDIT RATING

Rating for New India Assurance
MUMBAI: A.M. Best Co, an international insurance rating company, has affirmed the financial strength rating of New India Assurance Company Ltd at A (Excellent), for the fourth time in a row. The rating reflected the company's excellent ... More

DERIVATIVES MARKETS

Interest rate futures — PDs allowed to hold trading positions
PRIMARY dealers in Government securities market have been permitted by the Reserve Bank of India (RBI) to hold trading positions in interest rate futures. The NSE is expected to start shortly the exchange trading of interest rate derivatives - ... More

NSE puts off interest rate futures launch
THE National Stock Exchange (NSE) has again postponed the launch of interest rates futures. As per the earlier announcement, the trading was to start on Friday. In a notice to its members, the NSE on Thursday said the date of introduction of ... More

PUBLIC SECTOR BANKS

Andhra Bank to offer new services
ANDHRA Bank proposes to diversify into other financial segments such as distribution of insurance products, mutual fund products, cash management services, health insurance for customers, hassle-free electronic card for people who are going ... More

Syndicate Bank to adopt new risk management system
AIMED at effectively addressing the three categories of risks - credit, market and operational, Syndicate Bank has decided to put in place a new risk management architecture. This is expected to enable the bank prepare groundwork for the ... More

FINANCIAL INSTITUTIONS

Exim Bank pays out Rs 45 cr to Govt
EXIM Bank has paid Rs 45 crore dividend to the Union Government for the financial year ended March 31, 2003. The dividend payout amounts to 22 per cent of the bank's net profit of Rs 207 crore. Mr T.C. Venkat Subramanian, Managing Director and ... More

INTEREST RATES

Corpn Bank cuts rates on forex deposits
CORPORATION Bank has revised its interest rates on FCNR(B) deposits with effect from June 9. According to a bank release issued here today, the interest rates on dollar deposits for tenures of one year to less than two years and two years to ... More

PEOPLE

Paul Abraham is new COO of ABN-Amro India
ABN-AMRO Bank N. V (India) has appointed Mr Paul Abraham as Chief Operating Officer of the bank for its Indian operations. "With effect from June 1, 2003, Mr Abraham will be responsible for the bank's operations, financial control, information ... More

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