Financial Daily from THE HINDU group of publications
Thursday, June 13, 2002
| Forex Rates June 12 (4.30 p.m. IST) | ||||||||||
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Financial Daily from THE HINDU group of publications Thursday, June 13, 2002 |
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MONEY & BANKING COURTS/LEGAL ISSUES Rejection of complaint by Ombudsman cannot be sustained, rules Madras HC THE Madras High Court has ruled that irrespective of any proceedings before the Debts Recovery Tribunal, the Banking Ombudsman or the Central Bank of India could not reject a complaint by the aggrieved for damages. In the present case, the ... More FOREX Rupee firm; gilts mixed Mumbai: THE rupee closed on Wednesday at 48.9775/9825 against the dollar in a lacklustre forex market. The currency was stable during the day with not much movement. State-run banks tried bidding for the rupee but with not much impact. The ... More
The dollar debate HOUSING FINANCE HDFC scouting for franchisees to tap NRI funds HDFC Ltd is scouting for franchisees in the US, the UK and Canada for tapping NRI customers in these countries. Preliminary studies indicated renewed interest among NRIs in these countries in properties back in their native lands, particularly ... More LIFE INSURANCE LIC set to venture into Sri Lanka LIC of India is entering the Sri Lankan insurance market through a joint venture with the local Bartleet Group of companies. Initially, LIC will hold the majority 75 per cent equity in a new company to be incorporated in Sri Lanka and the ... More GENERAL INSURANCE Tata AIG General gross revenue at Rs 81.6 cr TATA AIG General Insurance Company Ltd has announced that its gross revenue for the year ended March 31, 2002, stood at Rs 81.6 crore. In its first year of operations, the company has issued more than 90,000 policies. "We have achieved a well ... More CREDIT RATING PRIVATE BANKS UTI Bank scouting for strategic partner The bank plans to enhance its Tier-I capital from the current level of Rs 191.88 crore during the second half of the current fiscal and options such as preferential offer and rights issue are being considered. More
PUBLIC SECTOR BANKS Spreads on loans, advances -- Banks yet to comply with RBI fiat on disclosure COMMERCIAL banks are yet to comply with the RBI directive on disclosure of details of their spreads on loans and advances. While some bankers maintain that they were awaiting "detailed guidelines" from the RBI on the matter, other bankers said ... More
SBI advances to priority sector top Rs 41,000 cr
Andhra Bank opens branch at Kottayam
FOREIGN BANKS HSBC plans insurance brokerage firm HONGKONG and Shanghai Banking Corporation Ltd (HSBC) plans to set up an insurance brokerage firm in India shortly. "We are in talks with several institutions since it will be a joint venture with 26 per cent stake by HSBC,'' said Mr Chris ... More FINANCIAL INSTITUTIONS Changes soon in IDBI Act to enable merger with any bank THE Government is expected to incorporate an enabling provision in the IDBI corporatisation law to merge the financial institution with a bank. According to highly-placed IDBI officials, the legislation will bring the institution under the ... More GOVT BONDS G-secs retailing gains momentum PRIMARY dealers seem to be looking at the nascent retail market of Government securities (G-secs) with a new-found interest. Several tie-ups are to be in place soon to establish new distribution channels in the secondary market and thus broaden ... More EVENTS PEOPLE Comments & Letters to the Editor to: bleditor@thehindu.co.in Subscribe to: Business Line |
Top Stories In Depth Gender Justice Simple Economics Guide to derivatives Looking back Jun. 2-Jun. 8 Dena Bank turns around; nets Rs 11.36 cr RBI ropes in SEBI to tackle rogue borrowers -- Redefines `wilful default' Steps to check money laundering Projects facing time overruns must be treated as NPAs: RBI Central Bank net up at Rs 163.3 cr -- Plans Rs 300-cr IPO this fiscal West coast ports are `unsafe destinations' -- Insurers impose war-risk premium on foreign ships KVB bonus, rights issues in July Indian promoters of pvt banks can hold 49 pc BoI to cut 5,000 more jobs -- Second VRS in another 3 months |
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