The Hindu Business Line : Tuesday, April 02, 2002

Bank disinvestment on slow track: Parekh
THE progress on disinvestment of Government ownership in public sector banks has been very slow, according to Mr Deepak Parekh, Chairman, HDFC. Speaking at the CII Banking Summit 2002 here today, Mr Parekh said, "Over two years ago the ... More

HUMAN RESOURCES

Institute for career in banking
HYDERABAD: Institute of Banking and Development, the Hyderabad-based organisation promoted by former senior officials of State Bank of India, is set to take off here on April 14 offering courses for students wishing to make banking a ... More

RBI & OTHER CENTRAL BANKS

RBI raises limit under ways and means
THE Reserve Bank of India today increased the limit under the normal ways and means advances (WMA) scheme, 2002, for State Governments by Rs 752 crore to Rs 6,035 crore as against present limits of Rs 5,283 crore. The revised limits, which ... More

`Status Holder' can get credit up to 100 pc of EEFC
THE RBI today said that `Status Holder' exporters will be eligible to credit up to 100 per cent of their exchange earners foreign currency accounts (EEFC) accounts, as against existing limits of 50 per cent with effect from April 1. This ... More

PRIVATE BANKS

RBI team probes GTB books
A HIGH-LEVEL team of Reserve Bank of India arrived in Hyderabad on Monday afternoon to go through the books of Global Trust Bank following the stern action announced by the bank on Saturday against seven of its top officials including the ... More

4th GTB branch in Kolkata

PUBLIC SECTOR BANKS

Union Bank, Coimbatore posts profit

INTEREST RATES

`Further rate cuts difficult unless costs come down'
THOUGH the real interest rates in the economy are still high, banks will be unable to bring down lending rates further unless their transaction costs are also reduced, Mr Janki Ballabh, Chairman, SBI, has said. ``The prime lending rate (PLR) ... More

GOVT BONDS

Risk spread over gilts in RBI focus
A KEY financial market parameter that the US Federal Reserve watches closely is the spread over Treasuries. That is, the risk spreads at which non-Treasury debt trades or is issued is an important concern for the Federal Reserve and a key ... More

NON-PERFORMING ASSETS

ARC is not for window dressing: Sinha
THE proposed Asset Reconstruction Company (ARC) for taking over of bad debts, is not a "disguised mechanism to put public money into the balance sheet of banks" but one that was designed to play a vibrant and energetic role in handling distressed ... More

`Stigma of ARC will weigh on cos'
PROMOTERS of companies whose loans get transferred to asset reconstruction companies (ARCs) are likely to find raising fresh resources a tough proposition. "Even though banks' books would be cleaned of sticky loans (once they are transferred ... More

New definition likely for `wilful defaulters'
THE Reserve Bank of India is working out a proper definition for "wilful defaulters,'' so that credit denial to this group can be made effective and criminal prosecution made demonstrative against this class of defaulters, according to Mr G.P. ... More

SHORT TERM INSTRUMENTS

Highest safety reaffirmed for Maruti issues
CREDIT rating agency ICRA Ltd on Monday reiterated the highest safety ratings of `A1+' and `LAAA' to the commercial paper and non-convertible debenture (NCD) programmes of Maruti Udyog Ltd. The commercial paper is a Rs 100-crore programme, ... More

Call rates to track repo: I-Sec
CALL rates are expected to track the repo rate in the coming weeks and climb above the refinance rate only as the pace of auctions pick up, according to ICICI Securities (I-Sec). In its weekly update on fixed income securities, I-Sec said that ... More

CREDIT CARDS & DEBIT CARDS

Canara Bank credit card for small borrowers

FIXED DEPOSITS

PNB revises deposit rates downwards
PUNJAB National Bank (PNB) has reduced interest rates on domestic term deposits. The new rates would be applicable from April 1. The new rates for term deposit of less than rs 15 lakhs is ( in percentage): 91-179 days 6.50, 180-less than 1 yr ... More

REGULATORY BODIES & RULINGS

IRDA fixes three groups of surveyors, assessors
THE Insurance Regulatory and Development Authority (IRDA) has formally given effect to the categorisation of surveyors and loss assessors and the financial limits fixed against them. The new categorisation has come into effect from April 1. In ... More

EVENTS

Rear View

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Hind Lever warning shows FMCG cos are on slow track

Hero Honda, `world's largest 2-wheeler co'

N. Indian farmers to miss Bt cotton bus

Chandamama gets younger, goes glossy

`Further rate cuts difficult unless costs come down'

To cover pool account deficit -- Govt issues Rs 9,000-cr bonds to oil majors

Exports falter, 11-month growth rate at 0.06 pc

In Depth
Inside Kashmir

Guide to derivatives