The Hindu Business Line : Thursday, September 26, 2002

Rupee steady; gilts decline
Mumbai: THE rupee closed steady on Wednesday at 48.3975/4025 against the dollar as compared to Tuesday's close of 48.3950/4050. Dealers contend that the market continues to be flushed with dollar supplies, which are steadily trickling in the ... More

INSURANCE

IRDA chief hopeful of hike in foreign equity ceiling
THE Chairman of Insurance Regulatory and Development Authority (IRDA), Mr N. Rangachary, has expressed optimism that the Government would raise the foreign investment ceiling in the insurance sector from the present 26 per cent to 49 per ... More

HOUSING FINANCE

South Indian Bank lowers home loan rates
THE Thrissur-based South Indian Bank has reduced the rate of interest on housing loans to 10.5 per cent for loans up to Rs 10 lakh. The rate of loans for amounts exceeding Rs 10 lakh will be 11 per cent per annum, a fax from the bank has said. ... More

GENERAL INSURANCE

HDFC Chubb may get licence soon
THE Insurance Regulatory and Development Authority (IRDA) is expected to grant licence to HDFC Chubb General Insurance Co shortly while Reliance Life Insurance is likely to give be given a clearance once the group firms up it infotech plans. ... More

`Insurance companies loading higher motor premiums'
SOME public sector general insurance companies have allegedly started loading higher premiums on motor vehicle insurance. They are said to be loading a premium of 200 per cent in the policies of old vehicles. According to the Federation of ... More

TVA Help.com to offer insurance for laptops
ORIENTAL Insurance Co Ltd, has signed an agreement with TVA Help.com Pvt Ltd offering insurance cover for laptops, notebooks and palmtops of various brands. Announcing this partnership, Mr Guhesh Ramanathan, CEO, TVA Help.com said, ``Laptops ... More

CREDIT RATING

Usha Beltron NCD downgraded
MUMBAI: Fitch Ratings India has downgraded Usha Beltron Ltd's Rs 50-crore non-convertible debenture (NCD) programme to `A-(Ind)' from `A(Ind)'. The rating outlook is stable. According to a release, the downgrade reflects the decline in ... More

PRIVATE BANKS

IDBI Bank plans to expand retail reach
IDBI Bank has outlined plans to increase its retail reach, courtesy an expansion programme that partially centres around the recent acquisition of the merchant banking business of BNP Paribas. The bank, which has already started enlarging its ... More

Federal Bank for organic growth
WHILE Federal Bank was aiming to grow organically, it was not averse to acquiring some other bank. "But not earlier than 2004", the Chairman, Mr K.P. Padmakumar, told Business Line. The bank would focus on achieving its targets during ... More

2 more UTI Bank ATMs opened in Kochi
The two new ATMs are located at Penta Tower, Kaloor and Rajagiri College of Social Sciences, Kalamassery. The two ATMs were opened on Wednesday. With the opening of these two ATMS, the bank's total number of ATMs in the State has now swelled ... More

PUBLIC SECTOR BANKS

IOB Tier-II bonds
CHENNAI: Indian Overseas Bank (IOB) has received permission from the Government to go in for a Tier-II issue of bonds, Mr S.C. Gupta, Chairman and Managing Director, IOB said. The bank plans to raise Rs 175 crore and is now waiting for ... More

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