The Hindu Business Line : Sunday, November 03, 2002

Forex reserves decline $19 m
FOREX reserves of the country dipped by $ 19 million to touch $ 64.038 billion for the week ended October 25 as compared to $ 64.068 billion in the previous week, according to the latest figures released by the Reserve Bank of India ... More

INSURANCE

Insurance brokerage
The Insurance Regulatory and Development Authority of India (IRDA) has moved to streamline the fees and commission structure of insurance broking. The proposed norms are:

For individual life policies, brokers can charge 30 per cent of the ... More

CREDIT POLICY

Credit Policy: Nothing to cheer savers
THE Monetary and Credit Policy pronouncements from the RBI had nothing to cheer the savers in the country. However, it could have been much worse. Thankfully, it was not. The cut in the bank rate could have been higher than the announced cut of ... More

NBFCS

Ashok Leyland Finance: Creditable option
THE fixed deposit programmes of Ashok Leyland Finance can be a good option for investors with a low-to-medium risk profile. The interest rates offered by the company are quite attractive considering the RBI's current interest rate policy. The ... More

Kothari Finance to repay deposits
Kothari Orient Finance will begin repayment of deposits from December. The first tranche would involve a repayment of Rs 1.5 crore, and, thereafter, the company will repay a similar amount every quarter. BL Research ... More

LIFE INSURANCE

Market-linked insurance plans: Premium option
BESIDES ICICI Prudential's Life Time policy, the other market-linked insurance plans available are Life Link, also offered by ICICI Prudential, and LIC's Bima Plus. Life Link is aimed at those who wish to opt for a single premium. In terms of ... More

RBI & OTHER CENTRAL BANKS

Banks allowed to take up forward trading in gold
IN what is seen as a possible first step in opening up the Indian bullion market, all scheduled commercial banks authorised to deal in gold have been permitted to enter into forward contracts with their constituents (exporters of gold products, ... More

PRIVATE BANKS

Moratorium on Nedungadi
THE Union Government has issued a three-month moratorium on the troubled Nedungadi Bank Ltd. The Reserve Bank of India today said on an application made by it the Union Government has issued an order of moratorium on Nedungadi Bank from ... More

FOREIGN BANKS

ABN-Amro processing services unit opened
ABN-Amro Bank N.V. has launched its shared services centre ABN Amro Central Services (ACES). Addressing presspersons here, Mr Dolf Colle, Member of the Managing Board, ABN Amro Bank, said, that ACES, a 100 per cent-owned subsidiary of ABN Amro ... More

FIXED DEPOSITS

Bank deposit rates drop
Following a 25 basis point bank rate cut in the recent Credit Policy; many banks such as the State Bank of India have revised their deposit rates downwards. Investors in fixed deposits will now earn 25 to 75 basis points lower on their deposits. ... More

LVB to slash deposit rates
COIMBATORE: The Karur-based Lakshmi Vilas Bank is revising the interest rate on domestic term deposits by 25 to 50 basis points from November 1. While the interest rate on short-term deposits (up to 90 days) will remain unchanged (at ... More

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