The Hindu Business Line : Thursday, July 04, 2002

Cauvery Grameena Bank shows micro-credit is growth catalyst
AS a successful demonstration that the poor are bankable and micro-finance-sustainable, Cauvery Grameena Bank, Mysore, has become a role model for micro-credit in rural development. The bank has been recognised at the Micro-credit Summit ... More

Panel for reducing Govt stake in RRBs
THE committee on restructuring of regional rural banks (RRBs) is understood to have suggested that the Government holding in these banks should drop to 33 per cent from the existing 50 per cent while the sponsor banks should increase their stake ... More

FOREX

Rupee strengthens; gilts rise
Mumbai: THE rupee closed stronger by around 3-4 paise at 48.7950/80 per dollar on Wednesday, after having closed at 48.8375/8425 the previous day. The domestic currency opened at 48.8350/84 against the greenback. Forex dealers contend that the ... More

NRIs hail decision on repatriation of funds
THE NRIs in the UAE are pleased with the decision of the Reserve Bank of India to permit repatriation of funds for specific purposes from the non-resident ordinary rupee denominated accounts (NRO) in Indian banks. The NRIs, who have for a long ... More

NBFCS

Margadarsi aims at Rs 2,000-cr turnover
THE Hyderabad-based Margadarsi Chit Fund expects to achieve a business turnover of Rs 2,000 crore in the current year, as against Rs 1,750 crore in 2001-02. The company's Managing Director, Ms Sailaja Kiron, said on Wednesday that Margadarsi, ... More

HOUSING FINANCE

HDFC subscribes to 6.9 pc preference shares of RIL
HDFC Ltd has subscribed to 6.9 per cent redeemable preference shares of Reliance Industries Ltd, aggregating Rs 200 crore. The coupon of 6.9 per cent is perhaps the lowest-ever offered by an Indian company on preference shares. An HDFC ... More

CREDIT RATING

Kotak Mahindra issue gets `AAA (SO)'
MUMBAI: Credit Rating Information Services of India Ltd (Crisil) has assigned a `AAA (SO)' rating to Kotak Mahindra Finance Ltd's (KMFL) Rs 83-crore securitisation programme. A release from the rating agency said the pass through ... More

IDBI long-term ratings downgraded
NEW DELHI: ICRA has announced a downward revision of the long-term rating of IDBI from `LAA+' to `LAA'. The revised ratings also indicate high safety as earlier, but at a lower level. However, the ratings of the medium-term and ... More

RBI & OTHER CENTRAL BANKS

RBI may shift to risk-based supervision of banks
THE system of annual inspection of banks by RBI may soon be a thing of the past. The central bank is expected to follow a system of random and more frequent inspections based on the risk profile of individual banks. Bankers said with the RBI ... More

FINANCIAL INSTITUTIONS

Good response to APSFC campaign
THE one-day business development campaign organised by the Andhra Pradesh State Financial Corporation (APSFC) here on Wednesday elicited good response from entrepreneurs, with 32 projects involving an investment of Rs 34 crore having been ... More

IDBI seeks Rs 45 cr for selling stake in AMC
INDUSTRIAL Development Bank of India (IDBI) has reportedly sought close to Rs 45 crore to sell about 21 per cent stake in IDBI Principal AMC to its joint venture partner, the US-based Principal Financial Group. IDBI has valued its stake at a ... More

GOVT BONDS

Govt to introduce put, call option in market borrowings
THE Government has taken a decision to introduce a put and call option in the next tranche of its market borrowings. An in-principle decision to introduce this has been taken and the Reserve Bank of India, the Government's debt manager, will ... More

CREDIT CARDS & DEBIT CARDS

HDFC Bank launches gold card
HDFC Bank launched its International Gold Credit Card here on Wednesday. The gold card has higher limits over the silver card that was launched in February. The gold card enables one to withdraw cash up to 40 per cent of the credit limit, said ... More

TRENDS

Will Mr Jaswant Singh end phone calls from Delhi?
GOING by what bankers say, the best of times were when Dr Manmohan Singh and Mr P. Chidambaram ruled North Block. There were no calls or orders from New Delhi to bank chairmen or even RBI to break rules. But that has changed and today any bank ... More

Comments & Letters to the Editor to: bleditor@thehindu.co.in
Subscribe to: Business Line

Top Stories
A tear for Argentina's pension funds

Will Mr Jaswant Singh end phone calls from Delhi?

Amul finds cream in Gulf markets — Exports to be stepped up; warehouse in Jebel Ali

Software exports to US up 32 pc

Govt to introduce put, call option in market borrowings

Guidance for corporate governance

In Depth
Gender Justice

Simple Economics

Guide to derivatives

Looking back
Jun. 23-Jun. 29
IRDA emerges favourite as new pension regulator

Depositor preferences remain in 1-3 yr bucket

Farmers don't fancy credit card facility

No plans for fresh VRS offer in banks

What ails co-operative banking?

Canara Bank plans IPO in Q3

NHB to get mortgage-backed securities listed on NSE