Financial Daily from THE HINDU group of publications
Saturday, June 29, 2002
Forex Rates June 28 (4.30 p.m. IST)
1 PoundRs 74.75
1 EuroRs 48.56
1 USDRs 48.82
100 YenRs 41.13
1 Sing $Rs 27.70

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FINANCIAL SERVICES


Leasing association drafts code for fair business practices
The draft code of conduct, which took nearly two years for compilation, has now been submitted to the Reserve Bank of India for its final comments. More

FOREX


Re loses 3 paise; gilts dip
Mumbai: THE rupee closed on Friday at 48.8750/8850 against the dollar, three paise weaker, as compared to Thursday's close of 48.8450/8550 in a volatile forex market. Forex dealers said, that the domestic currency opened at 48.87 levels and ... More

SOFTWARE


OrbiTech goes live in Belgium
MUMBAI: Orbitech Solutions Ltd has announced that its Orbi product suite of banking solutions has gone live with ABN AMRO in Belgium. ABN AMRO had chosen eight relevant modules from the ORBI product suite of banking solutions to ... More

MANPOWER


HC dismisses SBI VRS optees' plea
MR Justice Alok Chakraborty of the Calcutta High Court has dismissed a writ petition filed by the SBI (VRS) Optee Officers' Action Group (Bengal), challenging the decision of the bank authority not to accept VRS of all the officers of the ... More

HOUSING FINANCE


HDFC to seek shareholders' nod to raise borrowing limit
HOUSING Development Finance Corporation Ltd (HDFC) will be seeking shareholders' approval to increase its borrowings limit to Rs 35,000 crore from the existing limit of Rs 20,000 crore at the annual general meeting to be held on July 25. "In ... More

GENERAL INSURANCE


TN move on database of stolen vehicles
THERE are more insurance companies today and increasing awareness of the need to insure. But would this lead to a jump in crime rate? This is what Mr K Vijaykumar, Commissioner of Police, Chennai, is worried about. At a press conference ... More

CREDIT RATING


  • Gujarat Electricity issues downgraded
  • `Highest' safety for Cholamandalam
  • Citicorp Fin short-term PTC gets `P1+'

    RBI & OTHER CENTRAL BANKS


    Rakesh Mohan to be RBI Dy Governor
    DR Rakesh Mohan, who quit as Advisor to the Finance Minister last month, will join the Reserve Bank of India as Deputy Governor shortly. According to officials here, the Prime Minister has cleared the proposal to appoint Dr Mohan as successor ... More

  • RBI to remain closed today

    PUBLIC SECTOR BANKS


    SBI stock gains on better performance
    THE share prices of most public sector banks have been on the rise lately, but leading the pack is State Bank of India (SBI), the largest and most well networked PSU bank. Most funds are currently bullish on the stock in the near term. The ... More

    Banks hike priority lending target by 10%
    BANKS have hiked priority sector disbursal targets by 10 per cent for the current financial year in Karnataka. Speaking at the State-level bankers committee meeting here on Friday, Mr S. M. Kapur, Chairman and Managing Director, Syndicate Bank, ... More

    `SBI Kerala Circle must target 60 pc CD ratio'
    The Circle Managing Committee of the bank met for more than an hour and decided on implementing certain plans with a view to achieving various business targets. More

    FINANCIAL INSTITUTIONS


    IFCI net loss rises to Rs 885 cr
    IFCI Ltd net loss has risen to Rs 884.70 crore for fiscal 2001-02 against a net loss of Rs 265.93 crore in the previous fiscal. The institution has shown an operating loss of Rs 253.12 crore against an operating profit of Rs 233.97 crore in the ... More

    GOVT BONDS


    MFs must enter into G-sec deals in demat only
    THE Securities and Exchange Board of India (SEBI) has now stipulated that all mutual funds should enter into transactions relating to Government securities in the dematerialised form only. The mutual funds regulations of the capital market ... More

  • Bonds auction

    CREDIT CARDS & DEBIT CARDS


    BOBCard Paras targets customers with low income
    BOBCards has taken the lead in introducing a credit card — BOBCard Paras affiliated with MasterCard International — for the benefit of customers whose income fall below the taxable limit. It has been tailored to suit the needs of ... More

  • SBI launches small biz credit cards

    MORTGAGE


    NHB to get mortgage-backed securities listed on NSE
    This will be the first batch of mortgage-backed securities to be listed in the country. This year about Rs 200-crore worth of securitised instruments have been issued by the Housing Development Finance Corporation Ltd and Canfin Homes Ltd. More

    EVENTS


    PNB Gilts plans seminar for UCBs
    PNB Gilts, the primary dealer, is organising educational programmes for urban co-operative banks (UCBs) as part of its awareness programme. The programme is expected to educate UCBs about the need for treasury management skills and will guide ... More

    CO-OPERATIVES


    Urban co-op banks to remain out of loan recovery Ordinance
    "The UCBs may be given the powers later. We have to first see how the law works for the other banks and FIs,'' top Finance Ministry officials told Business Line. More

    TRENDS


    Home banking looks the future way
    DIFFERENT strokes for different folks, they say. Banking is soon to live up to it. The interest rates on fixed deposits, loans, savings bank accounts and other banking services could vary in the future if you bank through the Net or phone as ... More

    NEW PRODUCTS & SERVICES


    Andhra Bank launches ATMs
    Inaugurating the ATMs, Mr B. Vasanthan, CMD, Andhra Bank, said the bank was focussing on the varying needs of the cross-section of the society. The opening of personal banking centres and introduction of client relationship officers were some ... More
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  • Top Stories
    NHB to get mortgage-backed securities listed on NSE


    Buying online no bait for shoppers, says study

    IA Bharat Darshan scheme for tickets worth Rs 1 lakh

    Grains output seen at 211.3 mt — Record rice production; cotton, oilseeds, cereals recover

    Poor show by traditional items causes negative export growth

    What hampers Indian exports?

    In Depth
    Gender Justice
    Simple Economics
    Guide to derivatives
    Looking back
    Jun. 16-Jun. 22
    GIC may transfer stake in 4 PSU insurers at par

    Rabo bank to take off early next year -- To focus on growth sectors

    VRS ... no way at LIC

    Banks ride well in CARs

    ING offers Rs 341 cr to hike Vysya stake to 44% — Deal with GMR at 98 pc over market price

    PAN must for more bank transactions

    Om Kotak Mahindra policy for kids

    Banks told to be merciless with wilful defaulters


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