The Hindu Business Line : Saturday, August 31, 2002

Why do banks neglect the farm sector?
IN schools and colleges, the Hindi, Sanskrit or other Indian language teachers have always been lesser mortals compared to the English tutors. This is similar to the contempt which an English language reporter has for those in the Indian ... More

PENSION PLANS

Pension funds market — IRDA seeks tariff structure from prospective players
The Insurance Regulatory and Development Authority (IRDA) has asked the financial institutions, banks, mutual funds, insurance companies and the postal department to submit their tariff structure for the entire process of administration of ... More

FOREX

Rupee stronger; securities dip
Mumbai: THE rupee closed stronger on Friday at 48.4950/5000 against the dollar as compared to its previous close of 48.5250/53 in the forex market. The inflow of the greenback was seen to be very high and the market showed no interest in the ... More

IMF, RBI and the rupee
IN separate assessment reports of the Indian economy, the International Monetary Fund prescribed a little more adventurism for the rupee while the Reserve Bank of India rooted for flexibility with caution and watchfulness. In a report on India ... More

HOUSING FINANCE

LIC Housing acquires portfolio from Citibank
LIC Housing Finance Ltd (LICHF) has acquired a housing loan portfolio of more than Rs 200 crore from Citibank. The transaction was structured and advised by Enam Financial Consultants.A press release from LICHF said this is the second portfolio ... More

RBI & OTHER CENTRAL BANKS

RBI annual report 2001-2002 — Economic climate may force RBI to change stance
THE Reserve Bank of India has warned that changes in economic circumstances may warrant measures that are not in consonance with easy liquidity conditions prevalent since the beginning of fiscal year 2002-03. The warning could be an indication ... More

Debt-swap mechanism — RBI not for stepped-up borrowings by States
THE Reserve Bank of India (RBI) has expressed reservation over the Finance Ministry's proposal to allow States additional market borrowings of around Rs 10,000 crore a year to swap high cost loans contracted in the past. At a meeting with ... More

Dip in RBI's profits from investments abroad
THE fall in global interest rates appears to have affected the Reserve Bank of India's investments too with its profits from investments abroad declining marginally during 2001-02. The RBI's net earnings from overseas investment during 2001-02 ... More

RBI to formulate policies to curb money laundering
THE Reserve Bank of India is in the process of formulating policy, procedures and controls required by banks to check the possible use of the financial system for money laundering and financing of terrorism, according to Mr Vepa Kamesam, Deputy ... More

Exchange of soiled notes
COIMBATORE: A camp for exchange of soiled and mutilated currency notes is being organised jointly by the Reserve Bank of India and Vijaya Bank in Coimbatore on September 2. The camp would be held between 10 a.m. and 2 p.m. at Vijaya ... More

PRIVATE BANKS

ICICI Bank's mobile facility
BEEP, beep your mobile will go for every cheque/cash deposit, withdrawal and salary credit, if you are banking with ICICI Bank. The bank has launched its mobile phone facility as yet another facet of the multi-channel approach. To subscribe to ... More

Petition on election of Director Board — Federal Bank to file counter petition in Alappuzha court
With four candidates having filed in their papers to the two vacancies, the stage was set for a keen contest to the Director Board of Federal Bank this year. More

ICICI Bank cuts tenor-linked PLR
ICICI Bank has reduced its tenor-linked prime lending rates (PLR) by 50 basis points to one per cent. Rates on the short-term PLR, for a maturity of up to one year, has been lowered to 11.50 per cent from 12.50 per cent previously. Medium ... More

PUBLIC SECTOR BANKS

Union Bank launches bullion scheme
UNION Bank of India has said it has launched a bullion scheme "in a bid to provide value-added service" to its bullion dealer clients at one of its branches. Union Bank's move into bullion business comes at a time when most other banks have ... More

GOVT BONDS

Cos, MFs may be allowed in repo market
THE Reserve Bank of India proposes to allow corporates, mutual funds and other entities in the repo market. Deliberations are underway for extension of repos (outside Reserve Bank) to constituent subsidiary general ledger (CSGL) account ... More

NON-PERFORMING ASSETS

Debt recovery progress slow
THE process of debt recovery and asset restructuring initiatives undertaken as part of financial sector reforms has been somewhat slow, according to the Reserve Bank of India. Managements and boards of several co-operative institutions continue ... More

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Why do banks neglect the farm sector?

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