Financial Daily from THE HINDU group of publications
Wednesday, May 22, 2002
Forex Rates May 21 (4.30 p.m. IST)
1 PoundRs 71.31
1 EuroRs 45.02
1 USDRs 48.94
100 YenRs 38.95
1 Sing $Rs 27.30

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MONEY & BANKING

FOREX


Re up 5 paise; gilts rise
Mumbai: THE rupee closed firmer on Tuesday by around 5 paise at 48.98/99 against the dollar as compared to the previous close of 49.0350 in the forex market. The domestic currency opened at 49.0350/0450. Forex dealers said that the market ... More

GENERAL INSURANCE


IRDA licence for 5 more third party administrators
THE Insurance Regulatory and Development Authority (IRDA) has issued licences to five more Third Party Administrators (TPAs) taking the total number of licenced TPAs to 19. Out of the five new companies three are from New Delhi, while the ... More

FINANCIAL POLICY


Asset prices: The new monetary policy variable?
ASSET price inflation is the hottest topic in financial policy-making and markets today. All these years, the world was focused on conventional inflation — increases in commodity prices and wages feeding through to other prices and ... More

CREDIT RATING


Fitch India affirms Ind AAA rating of Reliance
FITCH ratings India has affirmed the Ind AAA debt rating of Reliance Industries Ltd (RIL) following the announcement of the sale of 26 per cent equity stake in Indian Petrochemicals Corporation Ltd (IPCL) to RIL by the Union Government. RIL is ... More

  • High rating for Way2Wealth

    PRIVATE BANKS


    Vysya Bank Q4 net down at Rs 3.72 cr
    VYSYA Bank Ltd reported a net profit of Rs 3.72 crore for quarter ended March 31, 2002, down 57.04 per cent from Rs 8.66 crore, a year ago. However, the total income surged to Rs 329.65 crore in the fourth quarter of 2001-02, up 23.43 per cent ... More

    Lord Krishna Bank net up at Rs 19.71 cr
    LORD Krishna Bank which has achieved a 294 per cent growth in net profit during the last fiscal has set a business target of Rs 4,000 crore with an operating profit target of Rs 100 crore and a net profit of Rs 60 crore for the current financial ... More

    CREDIT CARDS & DEBIT CARDS


    BPCL petro card soon to have multiple uses
    The oil company was in talks with several corporates, including PSUs, to enrol them as members of its value-added service cards, said a senior BPCL official. "We want to combine utility payments with the petro card through which the customer ... More

    HDFC Bank silver card launched
    HDFC Bank, the private sector bank promoted by the Housing Development Finance Corporation, has launched its new Silver Credit Card in Hyderabad. In a press release here, the bank said Hyderabad was the sixth city in the country where its ... More

    EVENTS


    Banks urged to lend more to small sector
    THE small scale sector is far less responsible for the build up of non-performance in banks. The banks should recognise this fact and be more flexible in lending to the SSIs, Mr C P Rangachar, Chairman— National Council for Small Industries ... More

    NEW PRODUCTS & SERVICES


    Union Bank remittance scheme for Gulf NRIs
    Union Bank of India (UBI) has launched the `Union Express Remittance Scheme', which will cater to the needs of the non-resident Indian population in West Asia. The Union Express will reduce the time lag in the receipt of a draft by the ... More
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