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Monday, February 25, 2002

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e-Serve surrenders NBFC approval -- To focus on IT-enabled services
CITICORP Securities & Investments Ltd, which has been renamed as e-Serve International Ltd, will henceforth not take on any non-banking finance company (NBFC) activity. The company has surrendered the NBFC approval given by the Reserve Bank of ... More

HOUSING FINANCE


`Housing and tourism can spur growth'
THE Confederation of Indian Industry has stated that housing and tourism sector have the potential to bring back growth in the economy. The chamber has urged the Government to provide a boost these sectors in the forthcoming Budget. Both these ... More

GENERAL INSURANCE


Bajaj Allianz bags contract for Raichur power stations
BAJAJ Allianz has bagged the insurance mandate for units one and two of the Raichur Thermal Station of the State-owned utility, Karnataka Power Corporation Ltd (KPCL). Sources said that the insurance contract would come into effect once the ... More

DEBT MARKET


Budget poses no problem for bond bulls
We in India are facing a certain abnormal economic scenario, quite like in Japan. In this abnormal scenario, the size of the public sector deficit and, therefore, the borrowing requirement does not seem like it would ever have an adverse effect on th e soft interest rates environment prevailing for quite some time now. More

Bond yields rise on profit-booking
THE bond markets were mixed last week as profit-taking by non-bank players and fears that interest cuts are likely to be deferred briefly, pushed up yields. The 10-year yield to maturity (YTM) ended last week at 7.44 per cent. In the previous ... More

CBDT spells out norms for new debt products
TRADING on new debt market instruments including Separately Traded Registered Interest and Principal Securities (STRIPS) is set to kick off, with the Finance Ministry finally spelling out the tax treatment on this and other products including ... More

HUDCO plans second tranche of Gujarat bonds
HOUSING & Urban Development Corp Ltd (HUDCO) is likely to float the second tranche of the Gujarat Punar Nirman Bonds in March following the success of the first edition, the Chairman and Managing Director, Mr V. Suresh, said. HUDCO, which ... More

PRIVATE BANKS


ICICI Bank plans more processing centres
HAVING set up 20 regional processing centres (RPCs) to take care of its back office functions, the ICICI Bank is planning to add a couple of more such centres very soon. The bank initially established an RPC in each metro, but as the business ... More

GOVT BONDS


Income on deep discount bonds to be taxed yearly
RETAIL investors, financial institutions and banks holding deep discount bonds have cause for cheer. The Finance Ministry has completely modified the tax treatment on income accruing from these bonds by shifting the entire tax burden at the time ... More

Budget to decide the next move
India has seen a bout of downgrades by the international credit rating agencies in the last year and all on account of its deteriorating fiscal situation. In the circumstances, the Finance Minister has to at least look as if he is doing something abo ut it. More

NON-PERFORMING ASSETS


Chamber moots 8-point plan for asset revamp cos
THE Associated Chambers of Commerce and Industry has recommended an eight-point strategy for successful operation of the Asset Reconstruction Companies (ARC) which is expected to have a thrust structure and a capital base of Rs 350 crore. The ... More
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Top Stories
Budget to decide the next move


Expectations on the Budget

Jayalalithaa wins, set to be sworn in CM

Daewoo gives reprieve to Indian subsidiary

HUDCO plans second tranche of Gujarat bonds

Income on deep discount bonds to be taxed yearly

CII plea to widen tax net

Disinvestment, Budget moves to set the tone for next rally

In Depth
Inside Kashmir
Guide to derivatives
US-64
Looking back
Feb. 17-Feb. 23
49 pc cap for foreign investment in pvt banks

Forex kitty moves up by $201 m

`ARC should create market, not buy bad loans'

Govt panel raises hopes for nidhis

`Landless rich' knock more on SBI doors

PSU general insurers chart phased revamp

State guarantees not final word: RBI

`Andhra Bank keen to boost non-interest income'


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