The Hindu Business Line : Wednesday, May 29, 2002

ED to issue FERA notices before sunset clause expires
THE Enforcement Directorate is set to issue notices to scores of companies and individuals under the erstwhile Foreign Exchange Regulation Act (FERA), with just three days to go for the expiry of the sunset clause under the Foreign Exchange ... More

Rupee weak; gilts rally
Mumbai: THE rupee closed a tad weaker on Tuesday at 48.98 to a dollar, as compared to its previous close of 48.9650/97. Dealers said that in anticipation of strong dollar demand on account of holiday in New York on Monday, several banks ... More

LIFE INSURANCE

SBI Life unveils scheme for credit card holders
SBI credit card holders can now get an insurance cover at a "substantially lower'' premium. SBI Life Insurance Company has launched a `Protection Plus' insurance scheme in association with SBI credit cards. Mr R Krishnamurthy, CEO and Managing ... More

GENERAL INSURANCE

UI risk cover for TN contract cotton farmers
THE promotion of contract farming for cotton in Tamil Nadu has got a shot in the arm with the United India Insurance Co Ltd (UI) willing to offer a specific risk cover to cotton farmers coming under the system. The public sector insurance ... More

Lorry owners threaten stir over insurance premium hike
THE All-India Motor Transport Congress (AIMTC) has decried the insurance companies' decision to hike the premium for vehicles even as the recommendations of a committee headed by the General Insurance Corporation (GIC) is yet to be ... More

CREDIT RATING

Tata SSL issue gets `P1+(SO)'

PUBLIC SECTOR BANKS

SBH net up 50.77 pc
STATE Bank of Hyderabad (SBH), the largest associate of State Bank of India, has posted a net profit of Rs 226.49 crore during 2001-02 registering a growth of 50.77 per cent over the previous year's profit of Rs 150.22 crore. The board has ... More

IOB net rises to Rs 231 crore
INDIAN Overseas Bank has reported a net profit of Rs 231 crore for 2001-02, twice as much as for the previous year. The board of directors has recommended a dividend of Rs 1.2 per share (12 per cent). The operating profit increased to Rs 617.19 ... More

FOREIGN BANKS

StanChart plans to widen auto loans portfolio
STANDARD Chartered Bank proposes to open branches in 10 more cities, the RBI approval for which "should come any time now". Then, the bank would be present in 25 cities, Mr Shyam Srinivasan, General Manager and Head, Credit Cards & Personal ... More

TRADE & LABOUR UNIONS

Bank employees told `to get ready for stir'
THE national Vice-President of the National Organisation of Bank Workers (NOBW), Mr A Sreenivasa Alse, has said that bank employees must be prepared to launch an agitation against the anti-labour policies of the Government. Delivering the ... More

ECONOMIC OFFENCES

UAE looking at steps to regulate hawala dealings
THE UAE authorities are looking at measures to regulate and supervise the activities of `hawala' middlemen or hawaladars, in a bid to make their operations more transparent and curb any possibility of their links with criminal activities. The ... More

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