Financial Daily from THE HINDU group of publications
Thursday, August 29, 2002
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Financial Daily from THE HINDU group of publications Thursday, August 29, 2002 |
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MONEY & BANKING FOREX Rupee up, breaches 48.50 THE rupee closed higher on Wednesday, touching a seven-month high at 48.4825/4875, against the dollar as compared to Tuesday's close of 48.50/5025 in the forex market. Contrary to the expectations of several market experts, the psychological ... More INSURANCE Four insurance laws to become single legislation FOUR major insurance laws are to be merged into a comprehensive legislation that would govern the sector in future. The Law Commission of India is laying the groundwork for the new legislation by preparing a concept paper for the overhaul. The ... More HOUSING FINANCE LIC Housing reduces rates LIC Housing Finance Ltd has reduced the floating rate of interest under individual loan schemes to 9.50 per cent from 11.00 per cent previously. The floating rate of interest was 11.00 per cent for all slabs of term loans up to twenty years, ... More LIFE INSURANCE ICICI Prudential to ride on parent clout ICICI Prudential is betting on its parent's strength to sell its new Group Insurance Policy to corporates. Though a late entrant in the group life cover segment — almost 20 months after it started the business — ICICI Prudential ... More GENERAL INSURANCE Transporters resent move to detariff motor insurance THE Insurance Regulatory and Development Authority (IRDA) has a fight on hand on its proposal to de-tariff motor insurance business. The transport industry has expressed reservations on the proposed move by IRDA to allow insurance companies to ... More CREDIT RATING Escorts NCDs downgraded THE rating agency Crisil has downgraded Escorts Ltd's Rs 150-crore non-convertible debenture (NCD) issue to `A-' from `A'. Similarly, the company's Rs 20.46-crore non-convertible debenture issue has also been marked down to `A-' from `A'. The ... More RBI & OTHER CENTRAL BANKS RBI may permit banks to issue standby LCs THE Reserve Bank of India may allow banks to issue `standby letters of credit' in favour of foreign banks without its prior permission. Standby letters of credit (SLC) are equivalent to bank guarantees and are widely used in international ... More PUBLIC SECTOR BANKS Corporation Bank ATM centre in Vellayambalam CORPORATION Bank has no less than 70 ATMs already in operation and Thiruvananthapuram city will have a network of 10 outlets by the end of the next month, according to Mr M. Vishwanathan Nair, General Manager. Mr Nair stated this while speaking ... More
Venkatachalam, Batra made MDs of SBI
Allahabad Bank to seek foreign managerial skills GOVT BONDS Bond prices rise marginally Mumbai: BOND prices went up marginally by 4-5 paise in the debt market on Wednesday. Post the auction and the outflow, the liquidity in the system is still seen to be ample. The liquidity in the system is said to be propping up the market when ... More IPOS Union Bank IPO oversubscribed three times THE Rs 288-crore initial public offer of Union Bank of India is understood to have been oversubscribed nearly three times, an indication perhaps that investors are confident of investing in fundamentally strong issues. Merchant banking sources ... More PEOPLE Ashish Guha is Lazard CEO Mr Guha, one of the five partners of Lazard India, will coordinate Lazard India'a activities and will report to the Chairman, Mr Udayan Bose. Mr Guha (45) was named to the post at a board meeting held on Tuesday. An economics graduate and ... More TRENDS Scandals make bankers wary THE Federal Reserve Board of the US has recently reported that few banks have encountered significant problems with the accuracy or completeness of financial statements submitted to them, but many are tightening up lending practices after ... More Comments & Letters to the Editor to: bleditor@thehindu.co.in Subscribe to: Business Line |
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