Financial Daily from THE HINDU group of publications
Wednesday, November 27, 2002
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Financial Daily from THE HINDU group of publications Wednesday, November 27, 2002 |
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MONEY & BANKING FINANCIAL SERVICES STCI taps foreign currency deposits for fund needs SECURITIES Trading Corporation of India, a large primary dealer in the g-secs market, has started tapping a new source of funds, loans against foreign currency deposits (FCNR deposits). With primary dealers, conventionally borrowers, slowly ... More FOREX Re range-bound; gilts up THE rupee ended on Tuesday at 48.21/22 against the dollar as compared to Monday's close of 48.20/21 in the forex market. The domestic unit was seen to be range-bound, with the currency having opened at 48.21. "There was good supply of the ... More HOUSING FINANCE No inspection of Tata Fin books THE Government has not ordered any inspection or checking of the accounts of Tata Finance under the provisions of the Companies Act, the Finance Minister, Mr Jaswant Singh, told the Rajya Sabha on Tuesday. However, the Securities and Exchange ... More LIFE INSURANCE 
Challenges of taking life insurance to small townsAmong the key challenges in reaching potential insurance clients in small towns in India, the foremost is building knowledgeable and competent distribution channels. Given the established role played by the individual agency force in selling insuranc e products, and its particular relevance in small towns, it is essential to fortify this channel with a set of new inputs. More CREDIT RATING `AAA' rating for Exim Bank issue EXIM Bank of India has received the `AAA' rating for its proposed Rs 1,000-crore bond issue from the Credit Rating Information Services of India Ltd. The funds will be used for lending activities. We have seen signs of pick-up in export ... More FINANCIAL INSTITUTIONS Core group of lenders to frame IFCI recast plan LEADING banks and financial institutions today agreed to form a core group of lenders to chalk out a restructuring proposal for IFCI Ltd. Besides representation from IFCI, the group would include officials of IDBI, Life Insurance Corporation, ... More INTEREST RATES PNB hikes rates for short-term deposits SIGNALLING a bias towards attracting short-term deposits, Punjab National Bank (PNB) has decided to revise the rates of interest on domestic term deposit under which the new rate for maturity of 1-3 years has been reduced whereas interest rate of ... More GOVT BONDS Low interest rates not spurring new investment THE bond rush continues. Yields on the benchmark ten-year Government securities fell as low as 6.4 per cent last week. With this, they have dropped more than 60 basis points in just three weeks after the mid-term credit policy in end-October ... More NON-PERFORMING ASSETS Lord Krishna Bank secures assets thru Ordinance LORD Krishna Bank Ltd has taken possession of secured assets mortgaged to the bank under the Securitisation Ordinance 2002. The bank took into its possession 10,480 cents of land situated in Broadway, Ernakulam in the heart of Kochi city. The ... More
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Parliament gives assent to NPA Bill REGULATORY BODIES & RULINGS 
Under metamorphosisInterestingly, it was the unethical practices adopted by some of the insurance players against the interests of the insurance consumers that led to the nationalisation of the insurance industry in the country. While the nationalisation lent the indus try unparalleled solidity, growth and reach, unfortunately, there grew a feeling of insensitivity to the needs of the market, tardiness in adoption of modern practices to upgrade technical skills coupled with a sense of lethargy. This led to a feelin g amongst the public that the insurance industry in the country was not fully responsive to the customer needs. More EVENTS Insurance meet to focus on market penetration THE Confederation of Indian Industry (CII), which organised six international summits on the insurance sector from 1996 onwards, is organising the Seventh Insurance Summit 2002, this time at Hyderabad, on November 27 and 28. During the last ... More PEOPLE Watal made MD of APSFC HYDERABAD: Mr R.P. Watal has been appointed the new Managing Director of Andhra Pradesh State Financial Corporation. He succeeds Mr J.C. Mohanty, who in turn has been posted as the Secretary to Government (Coordination), General ... More Comments & Letters to the Editor to: bleditor@thehindu.co.in Subscribe to: Business Line |
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