Financial Daily from THE HINDU group of publications
Thursday, March 21, 2002
| Forex Rates March 20 (4.30 p.m. IST) | ||||||||||
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Financial Daily from THE HINDU group of publications Thursday, March 21, 2002 |
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MONEY & BANKING FINANCIAL SERVICES Brink's Arya to offer cash management BRINK'S Arya India Pvt Ltd, the bullion cargo-handling agency, is planning to offer cash management operations to its banking clients in Coimbatore. The company, which handles precious cargo on behalf of institutional importers of gold/silver, ... More FOREX Rupee firm; gilts rally Mumbai: THE rupee closed steady on Wednesday similar to previous levels at 48.73/7350 against the dollar in a lacklustre forex market. The currency opened at 48.72/73. "The market was dull with demand and supplies being evenly matched. The ... More
Rupee expected to stay steady: BoA INSURANCE IRDA unhappy over `malpractices' THE Insurance Regulatory and Development Authority (IRDA), which recently prescribed limits on how much commission could be paid to agents, has expressed its unhappiness over "malpractices" in insurance companies getting business. In a ... More NBFCS NBFC forum wants anomalies rectified A FORUM of non-banking financial companies (NBFCs), representing various leasing, hire purchase and related associations, has called for measures to set right the anomalies in the treatment of different NBFC transactions. It is pointed out that ... More LIFE INSURANCE LIC to discontinue children's policy LIFE Insurance Corporation of India (LIC) is terminating its Children's Money Back Policy from the end of the month. The Managing Director of LIC, Mr N.C. Sharma, said the children's plan, which assured returns of Rs 80 per Rs 1,000 would be ... More
Tax on premiums may hit life insurance sector: CII
Birla Sun Life increases capital by Rs 30 cr
LIC to focus more on risk cover
GENERAL INSURANCE Motor insurance tariff hike deferred THE Insurance Regulatory & Development Authority (IRDA) has deferred the proposed hike in motor insurance tariff, sources in the insurance industry told Business Line.The tariff hike was to take effect from April 1. The proposal to ... More
PSU insurance cos fear cost escalation -- Embark on damage-limitation
Terrorist risk liability capped at Rs 200 cr FINANCIAL POLICY Debenture redemption reserve -- `FIs, NBFCs need separate treatment' THE Government is of the opinion that financial institutions (FIs) and non-banking financial companies (NBFCs) need to be treated differently for compliance with debenture redemption reserve (DRR) norms under Companies Act, 1956. Section 117C, ... More DEBT MARKET 
SGL members urged to join negotiated dealing systemTHE Reserve Bank of India has asked all SGL members to become members of the negotiated dealing system (NDS) by March 31. The physical SGL transfer form will be discontinued from April 1. All banks had to put in place a system, which would link ... More RBI & OTHER CENTRAL BANKS Bonus, rights issue norms eased for private banks PRIVATE sector banks, whether listed or unlisted, can now issue bonus and rights shares without prior approval from the Reserve Bank of India. Liberalising the norms for issue and pricing of shares by private sector banks, the RBI said on ... More
PRIVATE BANKS UTI Bank to open fourth branch in Kerala THIRUVANANTHAPURAM: UTI Bank will have its fourth branch in Kerala when the Thiruvananthapuram branch goes on stream on Friday. The Chairman and Managing Director, Mr P.J. Nayak, will open the branch at suburban Pattom. The bank, which ... More PUBLIC SECTOR BANKS SBI charts big plans for Bengal self-help groups "Twelve of the 16 branches in Coochbehar have scope for direct agricultural lending. We disbursed about Rs 1.65 crore against a good number of kisan credit cards in 2001-02.'' More FINANCIAL INSTITUTIONS Dabhol lenders cross swords over jurisdiction DABHOL Power Company's (DPC) Indian and foreign lenders appear to be headed for a conflict over legal jurisdiction on the company's assets. Indian lenders to Enron's DPC have moved the Mumbai High Court saying that matters related to the ... More CORPORATE BONDS `No retrospective tax effect on discount bonds' THE Finance Ministry has said the modified tax treatment on income accruing from deep discount bonds will be applicable only to bonds issued after February 15 this year. The modified tax treatment provides a mechanism for taxing income ... More NON-PERFORMING ASSETS Flexible settlement option sought on industrial loans THE Federation of Andhra Pradesh Industries has called upon lead financial institutions, Andhra Pradesh State Finance Corporation and State-level banker, Andhra Bank, to work out a strategy for an on-time settlement scheme for defaulters. The ... More SHORT TERM INSTRUMENTS Clearing Corpn plans long-term repo THE Clearing Corporation of India Ltd (CCIL) is working on a "tradable long-term repo'' that is expected to provide flexibility to both the seller and the buyer and also help even out excess liquidity in the system. Announcing the introduction ... More CREDIT CARDS & DEBIT CARDS Visa to enter Kerala towns HAVING made their mark in the major metros of the country, Visa International, the world's largest payment system for credit and debit cards, is now focusing on the greener pastures of Kerala. ``With the distinction between towns and villages ... More FIXED DEPOSITS Bank of India hikes rates on FCNR deposits BANK of India has raised interest rates on its FCNR deposits by 20-55 basis points across maturities effective from March 21. Rates on USD deposits for one year to less than two years has been raised to 2.50 per cent (2 per cent). For two ... More TRADE & LABOUR UNIONS Corpn Bank officers' strike on March 30 OFFICERS of the Mangalore-based Corporation Bank have decided to go on a one-day nation-wide token strike on March 30. The strike, the call for which has been given by the Corporation Bank Officers' Organisation (CBOO) which claims to represent ... More CO-OPERATIVES Inter-bank deposits -- Bhimavaram co-op bank comes under pressure The Chairman of Bhimavaram Urban Co-operative Bank, Mr Srinivas said there was nothing new in inter-bank deposits. Nor was it in violation of the Banking Regulation Act More Comments & Letters to the Editor to: bleditor@thehindu.co.in Subscribe to: Business Line |
Top Stories In Depth Inside Kashmir Guide to derivatives US-64 Looking back Mar. 10-Mar. 16 Run on AP co-op bank Prudential Bank stops premature payments -- RBI steps in to avert liquidity crisis Oil refineries face hike in insurance premiums No hurry to cut Bank Rate: Jalan |
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