Financial Daily from THE HINDU group of publications
Friday, September 27, 2002
Forex Rates Sept. 26 (4.30 p.m. IST)
1 PoundRs 75.71
1 EuroRs 47.28
1 USDRs 48.33
100 YenRs 39.33
1 Sing $Rs 27.08

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FOREX


Rupee stable; gilts dull
Mumbai: IN a market marked by thin attendance, the rupee finished nearly unchanged at 48.3950/40 against the dollar in comparison to Wednesday's close of Rs 48.3975/4025. Dealers who were available for comment said the market was largely stable ... More

STOCKS


Interest perks up in Bank of Rajasthan
THE stock price of Bank of Rajasthan (BoR) today rose sharply on the bourses along with rise in trading volumes on market talk that the promoters (Tayal group) are hiking their stake through the creeping acquisition route. On the BSE, the stock ... More

ICICI Bank: Delivery ratio low on NSE
ICICI Bank saw huge block deals on the NSE as well. Trading volumes on this exchange amounted to 25.27 lakh shares. Interestingly, not all the shares were presented for delivery at the end of the day. According to the statistics published by ... More

NBFCS


Magma Leasing to focus on retail financing
FOLLOWING a surge in disbursements from Rs 226.29 crore (annualised) in the previous year to Rs 335 crore in 2001-02, an increase of 48 per cent, Magma Leasing Ltd has projected a business of Rs 600 crore for the current financial year. Talking ... More

HOUSING FINANCE


How `floating' are SBI rates?
IF you are one of those who took a "floating rate" loan from the State Bank of India (SBI) a year or two ago, and expected to reap in full the benefits of lower interest rates that you are reading about everywhere, it's time to take a closer look ... More

NON-PERFORMING ASSETS


Rules notified for NPA sale — Banks now better equipped to pursue loan defaulters
THE Ordinance for recovery of bad debts has now been fully operationalised with the Ministry of Finance notifying the rules for taking possession and subsequent sale of assets of defaulters. The Securities Interest (Enforcement) Rules, 2002, also ... More

Federal Bank for `humane' approach in asset recovery
RECOVERY of impaired assets has never been an easy task to handle. Even a friendly customer turns a foe when legal action is contemplated towards damage recovery. But giving the issue a "humane dimension" is bound to have a definite impact and ... More

SHORT TERM INSTRUMENTS


RINL to roll over CP plan for another 90 days
Srei Capital Markets, a member of the Srei International Finance Group, which acted as fund manager for the first phase, has taken up the rollover assignment to market the CPs to various investors. More

MERGERS & ACQUISITIONS


ICICI Bank offloads 16.5 pc stake to FIIs in block deals — Raises Rs 1,318 cr at Rs 130 per share
FOREIGN investors, including Government of Singapore Investment Corporation and a Lombard Insurance (Canada) affiliate, today acquired 10.14 crore shares, representing 16.5 per cent of the equity capital, of ICICI Bank Ltd at Rs 130 per ... More

CO-OPERATIVES


Errant co-op banks `let off' by AP Govt
THE Andhra Pradesh Urban and Town Co-operative Banks' Association has accused the State Government of failing to act against eight urban co-operative banks on the verge of collapse and found to be indulging in malpractices. It urged the ... More

TRENDS


Bandh hits banking operations in Mumbai
BANKS wore a desolate look and clearing operations were disrupted on account of the nationwide `bandh' called for by the Vishwa Hindu Parishad (VHP) and backed by the Shiv Sena in Mumbai today. Many banks worked with skeletal staff as employees ... More
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In Depth
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Sep. 15-Sep. 21
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`Surplus' in banks even after VRS — SBI may come out with exit option


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