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Sunday, November 10, 2002

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MONEY & BANKING

FOREX


Forex reserves increase to $ 64.621 billion
THE country's forex reserves have risen by $ 582 million to touch $ 64.621 billion for the week ended November 1, against $ 64.038 billion in the previous week, according Reserve Bank of India figures. The reserves have been rising on account ... More

NRI property sale made easier
For non-resident Indians and persons of Indian origin, selling real estate in India and repatriating the proceeds abroad is now easier. The Reserve Bank of India (RBI) has removed the lock-in period that was in place for this purpose. The sale ... More

HOUSING FINANCE


ICICI Bank cuts home loan rates
ICICI Bank has cut its home loan rates by 0.25 percentage point across the board. The rates will change for both the fixed and floating categories effective from today. The bank has also reduced the ICICI Home PLR to 10.75 per cent from 11 per ... More

PRIVATE BANKS


Old private sector banks — Bent but not broken
THE acquisition of a strategic stake in Vysya Bank by ING and the failure of Nedungadi Bank (the RBI has imposed curbs on withdrawal of deposits by customers) have firmly turned the spotlight on old generation private sector banks in the country. ... More

Learning new survival ways
HERD instinct or Hobson's choice? Old private banks are following a strategy similar to that adopted by the entire banking industry. The strategy involves:

  • Investing in securities of top-rated companies;
  • Aggressively ... More

    Thinning spreads, bulging NPAs
    CAN old private banks grow? Or, have they been growing at all these past years? If the question is with reference to their size, then the answer is yes on both counts. Their deposit growth rate has been better than that of public sector banks in ... More

    Bankable bets
    MOST old private bank stocks look pretty attractive from a dividend yield perspective. However, the higher dividend yield is itself a sign of investor apathy for banking stocks, which is not without reason though. The large NPA overhang is ... More

    FIXED DEPOSITS


    Sundaram Home Finance: Home safe
    THE fixed deposit programme of Sundaram Home Finance, a subsidiary of Sundaram Finance, could be a good option for investors with a low-to-medium risk profile. The interest rates are quite attractive, especially after the recent decline in ... More

    TRADE & LABOUR UNIONS


    Canara Bank staff strike on Nov 15
    THE employees of Canara Bank throughout India are on agitation against the disinvestment of Canara Bank shares and the first stage of the agitation is ending with a protest strike on November 15. In a fax received here, the Canara Bank Staff ... More

    ECONOMIC OFFENCES


    CBI case against BoI officials
    MUMBAI: The Central Bureau of Investigation (CBI) has registered a case against senior officials of Bank of India, Mumbai and the promoters of Yuvraj Industries for defrauding BoI. The amount involved is around Rs 7 crore and the ... More

    PEOPLE


    New CMD for National Housing Bank
    NEW DELHI: The Government has appointed Mr V.Sridhar, Executive Director of UCO Bank, as the Chairman and Managing Director of the National Housing Bank (NHB). Since the exit of the last Chairman of NHB, the Joint Secretary in the ... More
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    ICICI Bank cuts home loan rates


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    In Depth
    Gender Justice
    Simple Economics
    Small Investor
    Looking back
    Nov. 3-Nov. 9
    PSUs worried over funds in IFCI

    Kelkar prescription may hit housing finance

    SBI local head offices to get more powers


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