Financial Daily from THE HINDU group of publications
Wednesday, October 30, 2002
Markets (Oct. 29)
BL 2501009.51 (+13.46)
BSE Sensex2885.23 (+50.82)
S&P CNX Nifty936.90 (+14.20)
Dollar (Buy/Sell)48.34/48.47
Gold Std (10 gm)5220 (+60)

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Jalan drops rates to fuel growth
THE Reserve Bank of India today dared to bankroll economic growth with a 25-basis point cut in bank rate to 6.25 per cent. The central bank tagged it to a cut in repo rate from 5.75 per cent to 5.5 per cent and a drop in the cash reserve ratio ... More

Depositors at the receiving end
BANKS seem to have rebuffed the Reserve Bank of India's good intention to bring down interest cost in the economy. Instead, banks have chopped deposit rates, dumping the common man on the street. Leading off the bank brigade is the State Bank ... More

It's progressive: Jaswant
THE Finance Minister, Mr Jaswant Singh, today said that the Reserve Bank of India's mid-term review of the Credit Policy for 2002-03 would benefit the people. Calling the policy ``progressive'', Mr Singh said it was also forward-looking. ``The ... More

RBI looking into `problem' banks
THE Reserve Bank of India has been consulting with Centurion Bank and Nedungadi Bank to find medium-term (three to five years) solutions to some problems that the banks have. Not only them, the RBI is in dialogue with all banks that have a ... More

Kelkar panel for pruning export promotion schemes
EXPORTERS currently enjoying the benefit of duty exemptions and tax reliefs from a slew of export promotion schemes may well have to be content with just four of them. The Kelkar panel on indirect taxes has made out a case for retaining only ... More

Stocks rise on buying spree
THE six-day continuous fall in the stock prices was stalled today on bargain-hunting by investors. The reduction in bank rate by the RBI also aided the positive sentiment in the market. In addition, the rise in key index stocks was also ... More

Nalco incidents add new twist to divestment tale
NOBODY in the Government will hazard a guess on what will happen to the proposed privatisation of National Aluminium Company Ltd (Nalco) through the strategic sale route after the Monday incidents at Angul and Damanjodi. For the record, the due ... More


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