The Hindu Business Line : Friday, March 15, 2002

Re range-bound; gilts rally
Mumbai: THE rupee closed almost unchanged on Thursday from the previous close of 48.7150/7250 against the dollar in a lacklustre forex market. After opening the day at 48.74/7550, the rupee remained range-bound for most of the day. Some good ... More

NBFCS

Compliance with deposit norms -- Strict deadline for nidhis
THE expert group on nidhi companies has suggested a strict deadline for such companies to comply with the existing norms for accepting deposits. Currently, a nidhi is permitted to raise a maximum of 20 times its net owned fund (NOF). The group ... More

GENERAL INSURANCE

Insurance cos to go slow on vehicle exposures
IN a bid to keep the lid down on underwriting losses, insurance companies led by the private sector have begun restricting exposures on multi-utility vehicles and luxury cars. The lead in making these restrictions has been taken by Bajaj ... More

`Report on motor tariff rationalisation `lopsided'
THE report of the committee constituted for the rationalisation of the India Motor Tariff (the Ansari Committee), that recommends tariff hikes for motor insurance, might make the insurance companies happy, but experts have pointed out a marked ... More

PUBLIC SECTOR BANKS

PNB plans Rs 200-cr branch networking -- Insurance venture to take off next year
PUNJAB National Bank (PNB) has chalked out a major programme for networking its branches. Addressing mediapersons here on Thursday on the eve of announcing the bank's initial public offer (IPO) of 5.3 crore equity shares of Rs 10 each at a ... More

Syndicate Bank to disburse salaries
HYDERABAD: Syndicate Bank has been notified by the Andhra Pradesh Government to disburse the salaries of its employees in the State. The bank, currently, has a network of 306 branches in the State, of which 44 branches were located ... More

Canara Bank loans for tea sector
COONOOR: To help the ailing tea industry get over its crisis through modernisation, Canara Bank has invited the factory owners to come up with good proposals for upgradation. ``We would like to work with the Tea Board in providing ... More

Corporation Bank is 97
MANGALORE: Corporation Bank celebrated its 97th foundation day on March 12 at the founder's branch at its birth place in Udupi. According to a press release issued here on Thursday, the bank's top brass assembled at Udupi to ... More

FOREIGN BANKS

BNP Paribas to focus on AMC; pulls out of retail
IN SPITE of its decision to cut back retail banking operations in India, BNP Paribas has said that it would continue to pursue the objective of becoming a "substantial player in the asset management business in India.'' The bank recently ... More

CREDIT CARDS & DEBIT CARDS

SSIs can tap banks for working capital
SMALL-SCALE entrepreneurs can now borrow funds for working capital purpose, up to 20 per cent of their annual turnover, through a special credit card being issued to them by public sector banks. The cards, being issued at the instance of the ... More

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