The Hindu Business Line : Tuesday, August 05, 2003

Rupee unchanged; securities slide
MUMBAI: It was a market of thin trades with the rupee closing at levels very similar to the day's open on Monday; the close was at 46.1300/1400, only a notch up from the open of 46.1350/1450 against the dollar. The intra-day high was ... More

LIFE INSURANCE

Dept of Posts eyes rural life insurance market
LIFE in rural areas is set to get tougher for life insurance companies with a non-insurance giant slowly waking up in the countryside to take charge of the rural life insurance market. In a move that is likely to give a real run to the ... More

GENERAL INSURANCE

ECGC ties up with Corpn Bank to sell insurance products
Export Credit Guarantee Corporation has decided to sell its insurance policies through banks. To begin with, ECGC has tied up with the Mangalore-based Corporation Bank for marketing its products. The bank is expected to sell export insurance ... More

PRIVATE BANKS

Yes Bank promoters seek more time to begin operations
PROMOTERS of the `Yes Bank' have sought more time from the RBI to start operations. The group has applied for yet another extension of the banking licence due to expire this month, according to sources close to the promoters. Mr Rana Kapoor and ... More

PUBLIC SECTOR BANKS

Firms can apply online for PSBs audit empanelment
CHARTERED accountants in practice may have a cause for cheer. From the year 2004-05 onwards, applications for empanelment of auditors for statutory audit of branches of public sector banks and statutory central and branch audit of regional rural ... More

BoB gives Rs 78.4 cr dividend to Govt

FINANCIAL INSTITUTIONS

Should Nabard effect RIDF rate cut?
THE State Governments are trying to get interest rates charged by Nabard on funds under Rural Infrastructure Development Fund (RIDF) cut. Apparently, the Andhra Pradesh Government is pushing for a drop in the price of funds under RIDF in line ... More

GOVT BONDS

T-bills preferred choice for corporates, insurance cos to park short-term funds
CORPORATES and insurance companies have emerged as large investors in the 91-day treasury bills (T-bills) to park their short-term cash surpluses. Sources said that corporates with cash surpluses preferred parking in 91 - day T-bills as an ... More

91-day T-Bill auction hiked to Rs 1,500 cr
THE Reserve Bank of India has increased the notified amounts in the auctions of the 91-day treasury bills, from Rs 500 crore currently to Rs 1,500 crore for eight auctions starting August 6 to September 24. The apex bank has said the move is in ... More

FIXED DEPOSITS

Karnataka Bank cuts rates for term deposits
KARNATAKA Bank has announced reduced interest rates for domestic term deposits with effect from Monday. The rates on deposits would be applicable for all fresh deposits and renewals of maturing deposit. As per the revised structure, the bank ... More

TRENDS

Multiplexes, TV and entertainment parks catch bankers' fancy
THE song-and-dance routine of Bollywood may not have caught the fancy of bankers. But television, entertainment parks and multiplexes are being viewed as better investment opportunities by the banking industry even as clean money from banks is ... More

Real time settlement by next year
REAL Time Gross Settlement (RTGS) system, the online integrated payment and settlement system for the banking industry as a whole, will be in place in Mumbai by next year. Mr Vijay Chugh, General Manager of RBI's National Clearing Centre (NCC) ... More

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