Financial Daily from THE HINDU group of publications
Wednesday, November 20, 2002
Forex Rates Nov. 19 (4.30 p.m. IST)
1 PoundRs 76.39
1 EuroRs 48.69
1 USDRs 48.13
100 YenRs 39.75
1 Sing $Rs 27.26

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FINANCIAL SERVICES


Vizag port likely to hire IDBI Caps
IDBI Capital Market Services is likely to be hired by the Vizag port and the Vizag Dock Labour Board for consultancy on portfolio fund management. According to sources, the port took a significant step towards better fund management in the wake ... More

HOUSING FINANCE


Corpn Bank lowers housing rates
CORPORATION Bank has reduced its interest rates on Corp Home loans with effect from November 19. With this, the floating rate on a loan of up to five years has come down to 9.25 per cent from the previous 9.5 per cent. For loans with a ... More

J&K Bank cuts home loan rates
THE Jammu and Kashmir Bank Ltd (J&K Bank) has announced a 25 basis point reduction in housing loans for both fixed and floating rates. Under the revised structure, the new rate for fixed interest loans from 1-10 years would be 10.50 per cent, ... More

GENERAL INSURANCE


Transporters seek to chart own insurance course
IF you cannot fight them, join them. That appears to be the new approach adopted by commercial vehicle owners in their prolonged dispute with the general insurance companies over premium rates and denial of stand-alone third-party liability ... More

FINANCIAL POLICY


Fund only bankable projects of States, says Ministry
STATE governments' attempts to raise fresh resources through issuance of guaranteed bonds is headed for trouble. with the Ministry of Finance (MoF) directing banks and financial institutions that such funds should be provided only to bankable ... More

CREDIT RATING


Indian banking system is weak, says S&P
INTERNATIONAL rating agency Standard and Poor's (S&P) has said that the Indian banking system is weak and vulnerable. Significant structural weaknesses of individual banks and the negative ratings outlook on the Centre put the Indian banking ... More

RURAL DEVELOPMENT


Companies could be allowed to run anti-poverty schemes
A UN-Asian Development Bank joint study (Oct. 2002) reports positive profitability for the Indian banking system in 1997-2000 and steady improvement in cost efficiency, helping to close the gap between foreign and Indian banks. The study has a ... More

INTEREST RATES


US interest rates below dividend yields
INTEREST rate fever is gripping the markets. The desi show was over in the last week of October with our RBI announcing cuts of 25 basis point in the Bank, repo and CRR rates. It then moved to the US where the Federal Reserve met on ... More

NON-PERFORMING ASSETS


Corporate debt revamp system mired in mistrust
A YEAR after it was put in place, the corporate debt restructuring (CDR) system of banks and financial institutions has seen very few loans being taken up for restructuring and fewer still brought to successful conclusion. About 25 cases have ... More
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