The Hindu Business Line : Wednesday, April 17, 2002

Growth needs credit prop
AT one time, it was deposits and money supply. Recently, the focus has shifted to credit. The most closely watched indicator in the banking system is now the week-to-week movement in loans to non-bank entities. Economists and the financial ... More

FOREX

Rupee firm; securities rise
Mumbai: THE rupee closed almost unchanged from the previous level of 48.9450 per dollar in a thin forex market. The currency opened with a wide quote at 48.94/96. Dealers said, that volumes were down substantially on account of the nationwide ... More

INSURANCE

Pension scheme for unorganised sector by June
THE Government has said that it would finalise a pension scheme for the unorganised sector by June, which will be implemented from November onwards. The Group of Ministers (GoM) headed by the Deputy Chairman of the Planning Commission, Mr K.C. ... More

AGRICULTURAL INSTITUTIONS

Netravati Bank operational profit up 56%
NETRAVATI Grameena Bank, one of the 10 rural banks sponsored by Syndicate Bank, has registered a total business of Rs 88.11 crore for the year ended March 31, 2002. The bank's deposits stood at Rs 47.52 crore against advances of Rs 40.59 crore, ... More

LIFE INSURANCE

Longer wait for insurance service tax review
NEW DELHI: LIFE insurance companies, which have sought a review of the Budget proposal to impose a five per cent service tax, will have to wait till June this year for a final verdict from the Finance Ministry. According to senior Revenue ... More

CREDIT RATING

CARE begins construction sector grading -- McNally Bharat rated `high'
CARE has launched gradings for construction entities and has completed its first grading assignment for McNally Bharat Engineering Company Ltd (MBEL), which has been assigned a `CCt2+' grading, indicating that the project execution capabilities ... More

`AA+' reaffirmed for Gujarat Gas debentures

FINANCIAL INSTITUTIONS

IFCI seeks Government guarantee on bond issue
WITH tough market conditions making it hard to raise resources, IFCI Ltd has approached the Ministry of Finance with a request for a Government guarantee on bonds to be issued by it in future. IFCI has pointed out to the Government that the ... More

KSFC plans new lending policy

CORPORATE BONDS

Narmada bond mops up Rs 350 cr, hopes to garner Rs 150 cr more
THE Sardar Sarovar Narmada Nigam Ltd (SSNNL), the nodal agency executing the Sardar Sarovar Project (SSP), is out wooing investors yet again. The latest private placement of the Narmada bond (Series III), which has been under way since February ... More

CREDIT CARDS & DEBIT CARDS

Credit card cos wooing Margin Free
PLASTIC may not be elastic but credit card companies seem convinced that it lends itself to a bit of stretching to provide the middle-class shoppers some leeway. This would probably explain the tenacity with which leading brands have been ... More

TRADE & LABOUR UNIONS

Strike brings cheque clearing to standstill
CHEQUE clearing operations came to a grinding halt today as the employees of public sector banks, financial institutions and the RBI joined the all-India strike called by various trade unions to protest against the "anti-labour" polices of the ... More

Strike in Karnataka total; bank operations crippled
IN Karnataka, the strike by public sector entities, LIC and banks was near total. Employees protesting against the Centre's privatisation policy took out a protest rally. Bank service was crippled, with officers and clerks of the various PSBs ... More

TN: Banking operations paralysed
BANKING operations came to a standstill on Tuesday as employees and officers of all the nationalised banks, private sector and foreign banks, co-operative and regional rural banks observed a one-day strike. Hailing the strike as a ``total ... More

Strike `total', says RBI union
THE All India Reserve Bank Employees Association and All India Reserve Bank Workers Federation have in a joint statement said that the bank strike on Tuesday has been "total''. The United Forum of Bank Unions (UFBU), too, has called the strike ... More

Nabard employees join strike
EMPLOYEES of the National Bank for Agriculture and Rural Development (Nabard) all over the country joined the general strike called by various unions in the PSU, banks and insurance sectors on Tuesday. In a statement here, Mr C. Sasidharan ... More

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