Financial Daily from THE HINDU group of publications
Wednesday, July 31, 2002
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Financial Daily from THE HINDU group of publications Wednesday, July 31, 2002 |
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MONEY & BANKING FOREX Rupee gains; gilts decline Mumbai: THE rupee closed on Tuesday at 48.6850/6950 gaining seven paise against the dollar as compared to Monday's close of 48.75/76 in the forex market. There were fresh supplies of the dollar by Foreign Institutional Investors and corporates ... More SOFTWARE There's reward in risk Opportunities for IT companies exist in Basel II implementation in banks, mainly in the areas of operational risks, which include technology support for internal ratings. More NBFCS Kotak Mahindra to turn bank, recruit 200 KOTAK Mahindra Finance Ltd (KMFL) will recruit 200 people over the next three months as it converts itself into a full-fledged bank. At present, KMFL has 600 employees. The company will begin operations as a commercial bank from November 1, ... More GENERAL INSURANCE Insurers putting away Janata cover PUBLIC sector insurance companies are quietly phasing out the Janata Personal Accident (JPA) cover policies from their portfolios to curtail claims losses. This move comes close on the heels of all of them cutting back on exposures in the motor ... More
Parliament okays insurance Bill FINANCIAL POLICY The more unhealthy, the merrier SEEMINGLY, the RBI and the Finance Ministry seem to have decided against any banking or financial entity to go under. That explains the complex exercises to bale out UTI and IFCI and could be extended to others whenever they go belly up. Going by ... More CREDIT RATING Ratings on HMT bonds withdrawn ICRA has withdrawn the `rating watch' on the HMT's bonds, long-term and short-term, following the company having cleared the entire interest obligation on the bonds. ICRA had placed the `LAAA (SO)' rating assigned to the Rs 469-crore long ... More DEBT MARKET Will `importing' debt instruments pay? AS the Indian debt market gets increasingly sophisticated, more and more complex instruments are being imported from other markets. But how prudent is it to introduce instruments that are being viewed with increasing discomfort in markets abroad? ... More PRIVATE BANKS HDFC Bank to go mobile with Hutchison HDFC Bank, the leading private sector bank in the country, has announced the launch of mobile banking facility in Andhra Pradesh in alliance with the fourth cellular operator in the circle - Hutchison. In a press communiqué, the HDFC Bank ... More
Catholic Syrian Bank to add 15 branches
Private banks `other income' slides in Q1
IDBI Bank Q1 net down 39 per cent
Karnataka Bank net up 25% in first quarter
PUBLIC SECTOR BANKS SBI net up 32% at Rs 763.2 cr in Q1 STATE Bank of India (SBI) has posted a net profit of Rs 763.20 crore for the quarter ended June 30, 2002, a 31.64 per cent increase over the Rs 579.78 crore net during the corresponding period in the previous year. Operating profit rose to Rs ... More
Syndicate Bank hikes short-term deposit rates
Corpn Bank takes savings-linked LIC cover for staff CORPORATE BONDS SIDBI to raise Rs 1,000 cr through capital gains bonds THE Small Industries Development Bank of India (SIDBI) on Tuesday announced the launch of its capital gains bonds at a coupon rate of 7.5 per cent in order to raise Rs 800-1,000 crore. The issue will be through the private placement route and ... More FIXED DEPOSITS Central Bank cuts deposit rates CENTRAL Bank of India (CBI) has revised its domestic term deposit rates downwards by 25 basis points in select maturities effective from August 1. The new rate on deposits with a maturity of 180 days to less than one-year is 6.25 per cent (6.50 ... More EVENTS Comments & Letters to the Editor to: bleditor@thehindu.co.in Subscribe to: Business Line |
Top Stories In Depth Gender Justice Simple Economics Small Investor Looking back Jul. 21-Jul. 27 Re closes at 4½-month high Dollar: Still the king? UTI Bank told to probe failed merger with GTB UCO Bank finalising wilful defaulters list ATM sharing: New wave sweeping across industry RBI dividend even before auditors are through |
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