The Hindu Business Line : Thursday, September 12, 2002

Rupee stronger; gilts up
Mumbai: THE rupee closed stronger by 5 paise at 48.45/4550 on Wednesday as compared to its previous close of 48.50/51. "The market continues to be driven by good supplies although sentiment is a little cautious due to the US-Iraq situation,'' ... More

New HSBC facility to reduce risks in cross-currency deals
THE Hongkong and Shanghai Banking Corporation Ltd (HSBC) today announced a new service in India that will help mitigate risk in cross-currency trading operations. Called `Continuous Linked Settlements' (CLS) facilities, i.e., simultaneous ... More

HOUSING FINANCE

Hudco snips rates 50-100 basis points
THE Government-owned housing finance company, Hudco's individual housing loan division, Hudco Niwas, has followed several other players in the segment in reducing the interest on loans, for both fixed and floating. Mr Pankaj Jain, Chairman and ... More

LIFE INSURANCE

Piggybacking on consumer goods
Insurance companies are teaming up with smaller players in the FMCG sector where the former gets to make inroads into untapped markets and the latter builds brand equity. More

PRIVATE BANKS

10 pc cap on bank voting rights may go
The Deputy Governor of RBI, Mr G.P. Muniappan, said since foreign direct investment in the banking sector was now allowed up to 49 per cent, it did not make sense to keep the voting rights at a maximum of 10 per cent. More

RBI asks Global Trust Bank to cut dividend to 5 pc
IN what can be termed as a `significant and unpleasant' development in the eight years of its existence, Global Trust Bank (GTB), the Hyderabad-based private sector bank, has decided to slash the dividend by 50 per cent for the year ended March ... More

FINANCIAL INSTITUTIONS

IFC to invest $3.6 m in Usha Beltron
INTERNATIONAL Finance Corporation (IFC) will be investing $3.6 million for a 14.4 per cent equity stake in Usha Beltron Ltd, manufacturer of steel wire ropes, specialised steel products and jelly filled telephone cables, said a news release. In ... More

IFC to provide $10-m loan to Cosmo Films

INTEREST RATES

`Scope for banks to cut lending rates further'
THE Union Minister of State for Finance, Mr Anand Rao Adsul, has said there is scope for banks to cut their lending rates further. Though interest rates have been on a downtrend, there is need for a reduction in rates at which credit is made ... More

GOVT BONDS

Bonds: Best days may be over
IF stocks have had a bloodbath in recent times, the opposite is clearly true for bonds, which have had a terrific bull run. Yields have collapsed as money moved into the safe haven of Treasury securities and high-quality bonds. There are ... More

MERGERS & ACQUISITIONS

ING group stake in Vysya Bank up at 43.99 pc
THE equity stake of ING group in the Bangalore-based Vysya Bank Ltd has increased to 43.99 per cent following the conclusion of the deal for acquiring 23.99 per cent. The total consideration for the transaction is Rs 340 crore. With this, ... More

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UTI-II sell-off by mid-2003 likely

Telecom industry has overspent, says Pitroda

`Scope for banks to cut lending rates further'

Centre rethink on dormant bourses — FMC orders closure of potato exchange

In Depth
Gender Justice

Simple Economics

Small Investor

Looking back
Sep. 1-Sep. 7
Private insurers begin rural invasion

`Limitation clause may hit NPA recovery'

StanChart, Grindlays merger completed

`Bank rate cut will not exceed 50 basis points'

25 is `right age' to plan for retirement

LIC in talks with States for pensions for underprivileged

PSU insurance cos cancel long-term accident schemes