The Hindu Business Line : Saturday, March 09, 2002

Multiple deposit schemes for NRIs may be merged
NON-RESIDENT deposit accounts of all the domestic banks are expected to merge as a result of the liberalised capital account convertibility norms announced by the Finance Minister in the Budget for the next fiscal. Currently, there are at least ... More

COURTS/LEGAL ISSUES

RRB staff salary to be on par with sponsor bank
OFFICERS and employees of the Regional Rural Banks (RRBs) are soon to be eligible for salary and allowance at par with their counterparts in sponsor banks irrespective of the profit/loss pattern of the bank. According to a Supreme Court ... More

FOREX

Rupee flat; gilts decline
MUMBAI: THE rupee ended almost unchanged on Friday against the dollar from the previous level of 48.74/7450 in a volatile forex market. The rupee opened at 48.7350/7450 and slipped to an intra-day low of 48.77/78. "Foreign banks were taking ... More

Repatriation facility -- Impact on NRI remittances to be neutral: Bankers
``It is the low inflation rate and high foreign exchange reserves which has encouraged the Government to further open up the doors of capital account convertibility to NRIs,'' Mr K. P. Padmakumar, Chairman of Federal Bank, said. More

NBFCS

Ashok Leyland Finance setting up data centre
ASHOK Leyland Finance (ALF) is putting up a `data centre' at Karapakkam near here at a cost of Rs 1.5 crore. The company's Managing Director, Mr S Nagarajan, told Business Line that apart from providing a back-up for all computerised ... More

PUBLIC SECTOR BANKS

SBI kisan card turns FMCG golden goose
HERE is a "golden'' opportunity for white goods manufactures to tap the rural market. They can take a cue from State Bank of India, which has found to its surprise that most farmers are using its recently-launched Kisan Gold Card scheme for ... More

RBI to review fiat on PNB arms
PUNJAB National Bank (PNB) has sought the RBI permission to continue with its two subsidiaries - PNB Asset Management Company Ltd and PNB Capital Services Ltd (PNB Caps). The RBI had earlier asked PNB to close down PNB Caps in view of the ... More

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Dividend rush -- Now, it's funds turn

SBI kisan card turns FMCG golden goose

Tough days ahead for refiners, traders

Partial gains on export front

Money laundering on the rise: DRI

Rs 2,000-cr investment norm set -- Petro marketing thrown open to private sector

In Depth
Inside Kashmir

Guide to derivatives

US-64

Looking back
Feb. 24-Mar. 2
Forex reserves cross $50-b mark

Income on deep discount bonds to be taxed yearly

Budget to decide the next move

HUDCO plans second tranche of Gujarat bonds

Farmer group set to take SBI Life cover

Big-ticket recoveries elude Indian Bank

Banks to cut lending, deposit rates

Sinha for linking interest rates to inflation