Financial Daily from THE HINDU group of publications
Thursday, March 14, 2002
Forex Rates March 13 (4.30 p.m. IST)
1 PoundRs 68.66
1 EuroRs 42.55
1 USDRs 48.67
100 YenRs 37.58
1 Sing $Rs 26.66

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MONEY & BANKING

FOREX


Rupee gains; gilts decline
MUMBAI: THE rupee closed firmer on Wednesday at 48.72/7250 against the dollar as compared to the previous close of 48.7450 in the forex market. Dealers said although there were some tense moments following the Supreme Court verdict on the ... More

NBFCS


PFC, REC ready to fund unbundled cos
POWER financiers Rural Electrification Corporation Ltd (REC) and Power Finance Corporation (PFC) have indicated their willingness to fund unbundled power entities provided they conform to credit covenants. REC and PFC are registered non-bank ... More

HOUSING FINANCE


PNB Housing unveils flexi rate scheme
PNB Housing Finance Ltd on Wednesday announced the introduction of a new scheme — Flexi Apna Ghar Yojana — a combination of fixed rate and variable rate schemes. The scheme will be offered in addition to the existing fixed rate ... More

SOCIAL WELFARE


Rabo, Citibank grant for women's training centre
THE Dutch Government and Rabo Bank have extended grants of Rs 40 lakh each to a project for creating a training centre for the Working Women's Forum (India). Citibank has chipped in with a Rs 30-lakh grant. The centre, to be housed in a ... More

RBI & OTHER CENTRAL BANKS


RBI rejects exporters' plea for interest on EEFC balances
THE Reserve Bank of India has ruled out permitting banks to offer interest on the balances held by exporters in their Exchange Earners' Foreign Currency (EEFC) account. This is because such balances are in the current account and cannot be ... More

PRIVATE BANKS


Bank of Rajasthan to expand
MUMBAI: The Reserve Bank of India has permitted Bank of Rajasthan (BOR) to start eight new branches and three extension counters. Four of the new branches will be located in Mumbai, while Kolkata, Gurgaon and Rajasthan will have one ... More

INTEREST RATES


ICICI cuts rate on Safety Bonds
CLOSE on the heels of IDBI lowering returns on its retail debt offering, Flexibonds, ICICI has slashed the interest rates on its Safety Bonds by a quarter percentage point. In the latest issue of Safety Bonds, the ninth this year, ICICI has ... More

TRADE & LABOUR UNIONS


State Bank union serves notice
COIMBATORE: The State Bank Staff Union (SBSU) has served a strike notice on the management (Madurai Module) for adopting an anti-union stance. The union has threatened to go on strike on or after March 28. The 12,100 employees at ... More
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Mar. 3-Mar. 9
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