Financial Daily from THE HINDU group of publications
Saturday, July 13, 2002
Markets (July 12)
BL 2501142.21 (+7.42)
BSE Sensex3305.83 (+15.27)
S&P CNX Nifty1058.25 (+1.65)
Dollar (Buy/Sell)48.73/48.86
Gold Std (10 gm)5230 (+30)


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Deposit rate cut likely
WHILE the new Finance Minister, Mr Jaswant Singh, has given some hope to the people with his now-famous `more money in the housewife's purse' remark, banks in the country are thinking of reducing the deposit rates. Some of the banks, at least ... More

RBI gets tough with banks — Lending rate disclosure to be made mandatory
THE Reserve Bank of India has decided to make it mandatory for all commercial banks to disclose their maximum and minimum lending rates, including sub-PLRs, on a fortnightly basis. In its recent credit policy, RBI had told banks to provide ... More

Rupee touches 3-month high on $ inflows
THE rupee touched a three-month intra-day high on Friday at 48.7650 against the dollar before closing weaker at 48.77/78 against the greenback. ``The appreciation was due to the exorbitant amount of dollar inflows coming into the market and ... More

Signs of nascent recovery — Industrial production rises 3.8 pc in May
A NASCENT industrial recovery of sorts seems under way, with the official Index of Industrial Production (IIP) registering a 3.8 per cent growth during April-May 2002, against 2.1 per cent during the opening two months of the previous fiscal. ... More

International calls may still stay pricey
VIDESH Sanchar Nigam Ltd (VSNL) proposes to hike bandwidth prices for voice carriage by close to 300 per cent. According to industry sources, the new tariff structure, which for the first time differentiates between data carriage and voice ... More

Tax collections up 20.24 pc in Q1
THE economy is showing definite signs of recovery, going by the Centre's tax collections in the first quarter. Aided by a surge in corporate tax revenues, the Centre's overall revenue collections grew by 20.24 per cent to touch Rs 39,173.87 ... More

Crackdown on petro goods racket thru Kandla
THE Gujarat Sales Tax (ST) Department has begun a crackdown on what it believes to be a major instance of tax evasion, running into hundreds of crores of rupees, that originates in the high seas off the Kandla coast. Among the commodities ... More


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