The Hindu Business Line : Monday, June 10, 2002

Rupee may maintain its range against dollar
For the week ahead, with the easing of the "India Risk", FII investors should find the current equity valuations attractive, thus reversing the current trend of a slackening of portfolio and FII flows. Presumably, for the reasons outlined above, the RBI will be in the markets to absorb these flows, thereby augmenting the liquidity in the local money markets. Thus, all factors are neutral at this moment for both the spot and forward rupee. More

Dollar pressured as interest in US assets declines
Dollar has been in a downward trend over the last couple of months and has declined by around six per cent. Slackening of the demand for US assets has caused the depreciation. Equity markets in the US continue to stagnate. On the other hand, US Treas uries and bonds had been a safe haven over the last year. These investments looked good, as there was almost no risk of dollar decline. More

LIFE INSURANCE

LIC South Central zone to open 2 call centres
AIMED at further upgrading services to its customers, the South Central Zone of Life Insurance Corporation of India (LIC) has drawn up initiatives by leveraging the information technology. The zone is currently leading in terms of highest ... More

GENERAL INSURANCE

Foreign cover for SEZ units -- IRDA irked at RBI notification
THE Insurance Regulatory and Development Authority (IRDA) has raised with the Reserve Bank of India (RBI) the rationale behind its notification permitting domestic property to be insured abroad. The notification dated May 17, 2002 signed by the ... More

GOVT BONDS

Longs shunned; PSU bonds find takers
Long bonds, over 10 years, are not preferred at all. In fact, this is one of the major reasons for RBI's inability to sell the long-dated securities in the markets. More

NON-PERFORMING ASSETS

New risk-sharing model proposed for pilot ARC: Initial capital to be scaled down
BARELY days before the announcement of its formation, the proposed pilot asset recontruction company (ARC) has been steered to a completely different course, with the Government set to announce a novel structure involving a risk-sharing ... More

CO-OPERATIVES

Pandyan Grama Bank net rises to Rs 8.16 crore
The Tamil Nadu-based Pandyan Grama Bank (PGB) has registered the highest-ever net profit of Rs 8.16 crore for the financial year ended March 2002. Last fiscal year, the net profit was Rs 5.16 crore. Mr S. Manickam, Chairman, PGB, in a statement ... More

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