The Hindu Business Line : Tuesday, February 19, 2002

Re range-bound; gilts rise
MUMBAI: Rupee closed on Monday stronger at 48.6550/6650 as compared to its previous close of 48.66/67, with strong dollar inflows and poor demand propping it. Dealers said that trading was dull and the currency moved steadily in the 48.65-68 ... More

HOUSING FINANCE

LVB cuts housing loan rates
HYDERABAD: Lakshmi Vilas Bank (LVB) has slashed interest rates on housing loans. The rates have been brought down to 11.5 per cent per annum from 13 per cent on floating rate loans, while that on the fixed rate option is 12 per cent for ... More

FINANCIAL MARKETS

Geojit Securities opens retail wealth centre
WITH almost 89 per cent of the country's working population outside the purview of pension schemes, it was imperative that more working people were extended this facility at the earliest, said Mr N. Rangachary, Chairman, Insurance Regulatory and ... More

PRIVATE BANKS

Frenzied activity in private banks
THE hike in foreign direct investment limit in private banks has pushed up the stock prices of most banks that were otherwise lying dormant. Private sector banks that witnessed intense activity included Federal Bank (up 20 per cent to close at ... More

Karnataka Bank multi-branch service
MANGALORE: Karnataka Bank has introduced a `multi-branch banking system' in Bangalore, Mangalore, Chennai, Mumbai and Delhi. More centres are to be added to the network shortly. According to a press release issued by the bank here, ... More

FINANCIAL INSTITUTIONS

Term credit bank status for IFCI unlikely
IFCI Ltd would have to remain content with its existing status of a development financial institution (DFI) for the time being as the Government is unlikely to agree to convert it into a term credit bank (TCB), a mix between a term-lending ... More

SHORT TERM INSTRUMENTS

Call rates seen at 6.5-7 pc
CALL rates are expected to be in the 6.5 per cent - 7 per cent range, says ICICI Securities (I-Sec) in its weekly update on fixed income securities. It said that it expected easy liquidity conditions to persist in view of the comfortable cushion ... More

TRADE & LABOUR UNIONS

AIBEA protests move to raise FDI
KOLKATA: The All-India Bank Employees' Association (AIBEA) has expressed concern over the reported decision of the Centre to allow foreign direct investment up to 49 per cent, against the existing 20 per cent, in private banks. This, ... More

INTERVIEW

`ARC should create market, not buy bad loans'
NON-PERFORMING assets (NPAs) may be a bad word for most. But not for Mr Jack Rodman. The man trots the globe sniffing out NPAs (or NPLs (non-performing loans), as he prefers to call it) of banks and institutions because he eyes a business ... More

CO-OPERATIVES

Rupee bank hikes fixed deposit rates
THE newly appointed administrator of the beleaguered Rupee Co-operative Bank , Mr B. Yashod, on Monday swung into action announcing a half per cent increase in interest rates on fixed deposits (24-36 months), effectively taking the rate to 12 per ... More

PEOPLE

Nagarajan is Deputy MD, IDBI
MUMBAI: Mr T.M. Nagarajan, Executive Director, Industrial Development Bank of India (IDBI), has been appointed Deputy Managing Director (DMD) of the development financial institution. According to an IDBI press release, the ... More

Comments & Letters to the Editor to: bleditor@thehindu.co.in

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In Depth
Inside Kashmir

Guide to derivatives

US-64

Looking back
Feb. 10-Feb. 16
PSU insurers trim third-party cover

ARCs: Answer to bank NPAs?

LIC offers loan for NHDP at 100 basis pts over G-Sec rate

Indo-US talks to block terror funds

RBI approves ADR/GDR re-issue

Leasing body working on common business code

NBFCs diversify from niches

SBI set to cut personal banking product rates

LIC plans foray into Sri Lanka