The Hindu Business Line : Saturday, August 03, 2002

Rupee stable; gilts rally
Mumbai: THE rupee closed on Friday at 48.65 to a dollar in a range-bound forex market as compared to its previous close of 48.66. The Finance Minister, Mr Jaswant Singh's statement in the early half of the day on the Government's preference for ... More

HOUSING FINANCE

HDFC to raise $100 m more
HOUSING Development Finance Corporation (HDFC) is to raise $100 million through international funding in the latter half of this financial year. "HDFC has raised $100 million from the international market at LIBOR plus 80 basis points for ... More

GENERAL INSURANCE

General insurance cos sore over directives on TPAs
THE top-level managements of the four public sector general insurance companies are reportedly annoyed with the Union Government's repeated intervention in the appointment of third party administrators (TPAs). Industry sources said that despite ... More

Insurers told to stick to TPA fee ceiling
WHILE the process for hiring third-party administrators (TPAs) has been decentralised, the General Insurance Public Sector Association (GIPSA) has directed the four non-life general insurance companies to adhere to the cap on fees that the ... More

PSU insurers dump compassion
PUBLIC sector general insurance companies are quietly dispensing with compassionate appointments in a bid to rationalise manpower utilisation. Such appointments are normally made to the next of kin of company personnel who die in harness. ... More

RBI & OTHER CENTRAL BANKS

Primary dealers told to publish accounts
PRIMARY dealers (PDs) have been asked by the Reserve Bank of India to make public details of their balance sheet and their profit and loss account. So far, PDs did not have disclosure requirements. According to Mr H.R. Khan, Chief General ... More

RBI for ceiling on States' loan guarantees
TO bring about fiscal discipline in state finances, RBI has recommended a need for a ceiling on guarantees on loans given by State governments to various state level undertakings. A ceiling on state guarantees has also been recommended by a ... More

PRIVATE BANKS

Catholic Syrian to offer VRS
THE Thrissur-based Catholic Syrian Bank is planning a voluntary retirement scheme at various levels of the organisation for people who have completed 55 years of age. "Of a total staff strength of 3,014, we expect around 200 people to accept ... More

PUBLIC SECTOR BANKS

Low-cost bank loan scheme for engg students on cards
WANT to become an engineer but worried about raising finances? Take heart! Help is now at hand. Banks are considering a proposal to provide a special loan scheme for engineering students, which will enable them to raise resources at low rates ... More

Of political funding & safe accounts
ANSWERING a query on Dabhol Power Company, the Government told Parliament recently that SBI, Canara Bank and IDBI had taken exposure in the power company. It went along to add "the power company had serviced all its debt obligations to ... More

IOB keeping options open on second VRS
INDIAN Overseas Bank (IOB) has an open mind about introducing second round of voluntary retirement scheme (VRS), according to its Chairman and Managing Director, Mr S.C. Gupta. "The Government has given permission to decide at the individual ... More

Union Bank returns Rs 58 cr to Government
UNION Bank of India, which has announced a public issue of Rs 288 crore, has returned Rs 58 crore to the Government, thus reducing the Government's stake to 60.8 per cent from the current level of 100 per cent. A bank press release said that ... More

FINANCIAL INSTITUTIONS

Associate unattractive — `IDBI wants to merge with another bank'
MERGING with IDBI Bank was not an attractive proposition going by the current size of the bank, Mr P.P. Vora, Chairman, IDBI, told shareholders today at the institution's annual general meeting. The FI, however, wished to merge with another ... More

Exim Bank to extend $10-m credit to PTA Bank
EXPORT-IMPORT Bank of India (Exim Bank) has signed an agreement to extend line of credit (LoC) of $ 10 million to Eastern and Southern African Trade and Development Bank (PTA Bank). The agreement was signed here on Friday by Mr T C Venkat ... More

NON-PERFORMING ASSETS

IndusInd bid to auction hotel property stalled
THE Alternative Disputes Resolution (ADR) Arbitral Tribunal, New Delhi, has stalled IndusInd Bank's bid to auction the Pune-based Ram Laxman Hotels' property, where the five-star Holiday Inn is located, following a dispute over loan ... More

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Reliance to complete Phase I K-G basin drilling by Dec

US hospitals scouting for Indian nurses

Gold market turns jittery on Jaswant's statement

IOB keeping options open on second VRS

DCA to closely monitor buybacks

Low demand drives TN poultry farms to culling

Low-cost bank loan scheme for engg students on cards

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