The Hindu Business Line : Saturday, January 19, 2002

Rupee up; gilts rally
MUMBAI: THE rupee closed stronger on Friday by around 5 paise on the back of good supplies at 48.24/25 per dollar, as compared to the previous close of 48.29/30. Dealers said that after opening the day at 48.2950/3050, the currency fell to an ... More

HOUSING FINANCE

SBI offers 1-time interest rate reset for housing loans
IN a bid to thwart the takeover attempts of its competitors, State Bank of India has decided to reduce the interest rate on existing housing loans as a one-time exercise on a case-to-case basis. The interest reset will be permitted only once in ... More

SBI Home Fin officers contest closure move
THE All-India SBI Home Finance Officers' Association has billed State Bank of India's proposal to close down the operations of its housing finance subsidiary as "questionable'' and "arbitrary''. The association, according to senior SBI HF ... More

PSB cuts housing loan rates
NEW DELHI: Punjab and Sind Bank (PSB) has decided to reduce the interest rates on its housing loan scheme with effect from January 1. The new rates are 11.5 per cent for loans up to Rs 10 lakh; 11.75 per cent for loans of Rs 10 lakh and up ... More

LIFE INSURANCE

LIC rider on select policies
THE Life Insurance Corporation of India has introduced a new facility — the term assurance rider — under select life insurance policies. Under the whole life endowment and money back plans, the new facility would offer extra risk ... More

Max New York Life sum assured tops Rs 1,500 cr
MAX New York Life Insurance Company Ltd has announced that it has recorded a sum assured in excess of Rs 1,500 crore in the first nine months of operations up to December 2001. The Chief Executive Officer and Managing Director, Mr Tony Singh, ... More

FINANCIAL MARKETS

`Investors can raise bar for market participants'
INCREASED investor activism may help improve the functioning of financial market participants, according to Mr Nachiket Mor, Executive Director, ICICI Bank. Mr Mor said in the absence of a well-developed market, the performance of participants ... More

PUBLIC SECTOR BANKS

Bank privatisation efforts faltering
According to top Finance Ministry sources, the divestment, that requires amendments to various Acts, has been completely halted and is now stuck in various Standing Committees of Parliament. More

Banks angling for IRFC lease assets
The banks aim to use depreciation on the lease assets as a tax shield. The primary leasing market is virtually dead as a result of the liquidity overhang. More

CRR & BANK RATES

`No time-frame for CRR cut'
THE Reserve Bank of India has not set any pre-determined time-frame for the one-time reduction of the cash reserve ratio (CRR) to three per cent. The Deputy Governor, RBI, Dr Y. V. Reddy, said, ``The RBI does not have any pre-determined ... More

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In Depth
Inside Kashmir

Guide to derivatives

US-64

Looking back
Jan. 6-Jan. 12
General insurance cos plan to consolidate branches

Strike of irrelevance

Canara Bank IPO to follow results

Gilt investments turn to gold for banks