The Hindu Business Line : Sunday, November 17, 2002

Forex kitty up $755 m on big NRI, FDI flows
THE country's foreign exchange reserves have crossed $65 billion, bolstering an already comfortable looking external sector. The reserves surged by $755 million during the week ended November 8 to touch $65.376 billion. Over the past 11 ... More

HOUSING FINANCE

ICICI cuts home loan rates

LIFE INSURANCE

Money-back plans — Funds in times of need
A Few weeks ago, we had looked at the Money-back plans offered by a few private insurance players. This week, we will examine the Money-back plans offered by three other private players — Allianz Bajaj, ING Vysya and AMP Sanmar — ... More

PUBLIC SECTOR BANKS

Canara Bank to widen its revenue streams
DESPITE posting significant growth figures of over 46 per cent in gross profit at Rs 1,656 crore and 160 per cent in net profit at Rs 741 crore during the last fiscal year, Canara Bank has decided to formulate a detailed strategy to widen its ... More

FINANCIAL INSTITUTIONS

Tamil Nadu Power Finance — Nothing electrifying
THE one-year fixed deposit programme of Tamil Nadu Power Finance and Infrastructure Development Corporation could be a good option for investors with a penchant for risk. TN Power Finance, a Government of Tamil Nadu enterprise, provides ... More

Capital gains bonds to yield less
THE capital gains bonds offered by National Housing Bank is the latest to lower the interest rate on offer. The coupon rate for the bond issue, which opened on November 11, has been fixed at 6.5 per cent per annum, payable annually. The bank had ... More

SIDBI too cuts rates

FOREIGN INSTITUTIONAL INVESTORS

No `big deal' in FII forward cover
WHILE foreign institutional investors (FIIs) may not immediately rush to buy forward forex cover for their investments in Indian equities, they are glad to have the freedom to do so. FIIs until now were allowed to hedge only up to 15 per cent ... More

INTEREST RATES

Bank of Rajasthan cuts deposit rates
MUMBAI: Deposit rates of Bank of Rajasthan are to be cut by 25-75 basis points for term deposits effective November 16. The interest rate for the 15-45 days term deposits has been reduced to 4.75 per cent (5 per cent). Rates for the 46 ... More

MERGERS & ACQUISITIONS

Nedungadi shareholders not to get PNB shares
SHAREHOLDERS of Nedungadi Bank Ltd (NBL) will not be allotted shares of Punjab National Bank (PNB) after the amalgamation of NBL with PNB. The Reserve Bank of India today officially stated that "the draft scheme of amalgamation of the two banks ... More

TRENDS

Bulk deposits aren't the in-thing now
BULK deposits (amounts above Rs 1 crore) procured by banks were once hot property. Banks used to pay anything from 0.25 to 0.50 per cent more than normal rates for such high value deposits till recently. For deposits above Rs 5 crore, the ... More

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