The Hindu Business Line : Tuesday, April 30, 2002

CRR cut to 5 pc; Bank Rate unchanged in Credit Policy -- Jalan takes no risks
REFUSING to take a gamble, Dr. Bimal Jalan, RBI Governor, stayed put today, leaving cuts in Bank Rate and CRR for the future. The RBI trimmed the cash reserve ratio (CRR) for banks by 50 basis points to 5 per cent effective June 15 even as it ... More

`FII in pvt banks at Govt discretion'
FOREIGN institutional investment (FII) in private sector banks will be at the discretion of the Union Government while foreign direct investment will be limited to 49 per cent. This will be applicable even if an investor (FDI) were to make open ... More

A `spread' that may hit bank profitability
THE Monetary and Credit Policy for 2002-03 does not contain any measure that would significantly boost the profitability of banks. The expected cut in the interest rate on savings bank accounts, which in turn would have boosted profitability, ... More

All pointers to softer rates: Sinha
THE Finance Minister, Mr Yashwant Sinha, has said that RBI's Monetary and Credit Policy is indicative of a softer interest rate regime. Welcoming the 50 basis points cut in CRR, Mr Sinha said, "The reduction is a good decision. I welcome the ... More

Paswan quits ahead of crucial Gujarat vote
FRESH uncertainties have arisen about the stability of the Vajpayee Government following the resignation from the Union Cabinet of Mr Ram Vilas Paswan, Minister for Coal. In informal remarks to the media shortly after submitting his resignation, ... More

IOC, Reliance, Nirma bid for IPCL stake
INDIAN Oil Corporation, Reliance Industries Ltd and Nirma Industries Ltd have submitted price bids for acquiring a controlling stake of 26 per cent in Indian Petrochemicals Corporation Ltd (IPCL). The price bids submitted by the three bidders ... More

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