The Hindu Business Line : Wednesday, October 02, 2002

Rupee at eight-month high
Mumbai: THE rupee continued its appreciation to close at an 8-months high of 48.3550/36 against the dollar as compared to its earlier close of 48.3750/38 in the forex market. The rupee closed at comparable levels at 48.35 against the dollar on ... More

TECHNOLOGY

Coughing up more than cash
In the future, you can pay your phone and electricity bills and book movie tickets too — using the ATM. More

NBFCS

NBFCs told to hold investment in demat G-Secs
THE Reserve Bank of India has said that NBFCs must henceforth hold their investments in G-Secs in dematerialised form only. In a release the apex bank has emphasised, that the demat G-Secs must be held either in a Constituent's Subsidiary ... More

GENERAL INSURANCE

Big demand for terror-cover
THE fear of terrorism appears to be looming large over the corporate world, with companies joining temples in seeking insurance against terrorism. Several large corporates such as Reliance, Tata Power, IPCL, Haldia Petrochemicals and many ... More

National Insurance hopes to post Rs 200-cr profit — Launches policy with seven covers
THE public sector insurer, National Insurance Company Ltd (NICL), hopes to register a profit of Rs 200 crore during the current financial year after reporting an operating loss of Rs 94 crore in 2001-02. This was stated by Mr H.S. Wadhwa, ... More

New India profit down at Rs 142 cr
NEW India Assurance Company Ltd (NIA) has incurred an underwriting loss of Rs 529.60 crore in the financial year 2001-2002 against Rs 456.29 crore in the corresponding period of the previous year. Mr Rajendra Beri, Chairman-cum-Managing ... More

PRIVATE BANKS

LVB reduces deposit rates
LAKSHMI Vilas Bank (LVB) has announced a cut in its interest rates on domestic term deposits with effect from Tuesday based on the recommendations of its asset liability committee (ALCO). In a press release here, the bank said in the new ... More

Karnataka Bank, BSNL tie up for telephone bills
KARNATAKA Bank has entered into an agreement with Bharat Sanchar Nigam Ltd (BSNL) for the collection of telephone bills of subscribers in the Bangalore Telecom District. According to a press release issued by the bank here today, telephone ... More

FINANCIAL INSTITUTIONS

SIDBI, SEDF sign MoU
THE Small Industries Development Bank of India (SIDBI) and the South-Asian Enterprise Development Facility (SEDF) have signed an MoU to aid the development of small enterprises in North-East India. The MoU was signed in Washington by the SIDBI ... More

MERGERS & ACQUISITIONS

Bank in distress — Is merger only solution?
THE IMF is often blamed that it prescribes the same medicine for all illnesses. Now, the Reserve Bank of India also seems to be following the same policy. If press reports are to be believed, Nedungadi bank is likely to be merged with Punjab ... More

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In Depth
Gender Justice

Simple Economics

Small Investor

Looking back
Sep. 22-Sep. 28
NCAER concern over cost of high forex reserves

IRDA fiat on third-party cover `hurting' non-life insurers

Eighth bipartite wage settlement — IBA, union talks on Oct 18

Rules notified for NPA sale — Banks now better equipped to pursue loan defaulters