The Hindu Business Line : Saturday, June 22, 2002

Rupee firm; gilts decline
Mumbai: THE rupee closed on Friday at 48.91/9150 against the dollar in the forex market, almost unchanged from Thursday's close. There was good dollar buying by State-run banks in the market for most of the day, said a forex dealer. Apart from ... More

INSURANCE

IRDA fixes cap on rider charges
INSURANCE companies can now charge a maximum of 30 per cent of the premium of the main product for all riders attached to any policy. The cap has been put in place by the Insurance Regulatory and Development Authority (IRDA) in its Protection ... More

LIFE INSURANCE

ING in talks with IRDA on life venture stake
THE ING Group may either rope in another partner for its insurance venture - ING Vysya Life - or divest part of its stake to the Indian partner. With the group hiking its share in the bank to 43 per cent, its 26 per cent holding in the ... More

Om Kotak Mahindra policy for kids
Called Kotak Child Advantage Plan K-CAP, the policy is aimed at parents to secure the future of their children. "Flexibility, affordability and customisation are the three principles on which we built this product,'' said Mr Shivaji Dam, ... More

PUBLIC SECTOR BANKS

Andhra Bank to focus on MFs — Earmarks Rs 65 cr for IT initiatives
FOLLOWING the increasing pressure on spreads, Andhra Bank, the Hyderabad-based premier public sector bank, has chalked out a strategy to substantially enhance its non-interest income levels. Having recently signed a MoU with United India ... More

Andhra Bank to raise Rs 100 cr via pvt placement of bonds
ANDHRA Bank has decided to raise additional capital of Rs 100 crore to strengthen its capital to risk assets ratio (CRAR). It plans to privately place subordinated debt bonds with tenors of between five and seven years to raise the funds as a ... More

Banks cool to SPV proposal for infrastructure projects
PUBLIC sector banks appear cool to the suggestion of setting up of special purpose vehicles (SPVs) for financing infrastructure projects. Recently, the Finance Minister, Mr Yashwant Sinha, had asked banks and financial institutions to set up ... More

FINANCIAL INSTITUTIONS

IFCI board discusses McKinsey report, seeks Govt help
IFCI Ltd has sought the support of the Government and the Reserve Bank of India (RBI) to facilitate the implementation of the restructuring report prepared for the institution by McKinsey and Co. The IFCI board, which met today to consider the ... More

NON-PERFORMING ASSETS

Banks, FIs can crack whip on defaulters
NOW, it would be a new ball game between lenders and borrowers, with the advantage squarely shifting in favour of banks and financial institutions. This is because the Ordinance for Securitisation and Reconstruction of Financial Assets has ... More

NEW PRODUCTS & SERVICES

IDBI Bank launches new scheme
IN a bid to increase its low cost deposits, the IDBI Bank has launched a new scheme, which allows a current account holder to get certain services free of charge, provided there is a certain minimum balance in the account. Announcing this to ... More

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`Bajaj group not breaking up'

PAN coverage scope to be expanded

Don't dump your mobile... just yet

Om Kotak Mahindra policy for kids

India, an emerging force in biotech: E&Y

I-T Dept told to refund all amounts by July 15

How to join the millionaire club

In Depth
Gender Justice

Simple Economics

Guide to derivatives

Looking back
Jun. 9-Jun. 15
Burgeoning forex reserves: Boon or bane?

LIC to invest Rs 6,000 cr in equity markets this year

132 pc rise in PSBs net profit last fiscal

LIC set to venture into Sri Lanka

FI, bank funding of projects worth Rs 50,000 cr -- Special purpose vehicles for infrastructure likely

ICICI Bank unveils `HomeSafe' cover

Nidhis told to attach balance sheet in application forms