Financial Daily from THE HINDU group of publications
Sunday, December 15, 2002
Financial Daily from THE HINDU group of publications Sunday, December 15, 2002 |
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MONEY & BANKING ACCOUNTING STANDARDS Bank audits could vanish into thin air THE world never seems to be kind to accountants, more so in India, if one were to consider a few grim predictions. Such as that bank audits could evaporate, as also the audit assignments that are currently coordinated by the C&AG. Five more ... More FINANCIAL SERVICES Canbank Factors — Factor of safety GIVEN the current decline in the interest rate levels, the fixed deposit programme of Canbank Factors, a subsidiary of Canara Bank, is a good option for investors. The interest rates are higher by almost one per cent than that offered by ... More FOREX Forex reserves top $67 b as banks mop up dollars THE country's forex reserves rose by $828 million to touch $67.753 billion for the week ended December 6, 2002, compared to $66.925 billion in the previous week, according to the latest figures released by Reserve Bank of India. "There has been ... More INSURANCE IRDA favours long-term players in broking THE Insurance Regulatory and Development Authority (IRDA) has favoured the entry of long-term players into the insurance broking sector, keeping in view the sustainable growth of the insurance industry in the country. It was with this objective ... More STOCKS HDFC: Avoid fresh exposures HOUSING Development Finance Corporation (HDFC) finds itself caught in speculation about another large merger in the financial sector, with its associate company, HDFC Bank. The respective managements have denied the possibility, but the rumours ... More NBFCS SREI Intl Fin promotes subsidiary MUMBAI: SREI International Finance Ltd has informed the Bombay Stock Exchange that it has promoted a wholly-owned subsidiary company `SREI Money Mall Ltd' with a paid-up capital of Rs 5 lakhs to, inter alia, act as distributors or ... More HOUSING FINANCE Vijaya Bank slashes home loan rates Vijaya Bank has slashed the interest rates on short and long tenure housing loans by 100-200 basis points. The revised rates are effective from December 10. For a 60-month tenure, the fixed rate is now 8.75 per cent and the floating rate 8.5 per ... More CONSUMER FINANCE Personal loans — Service is the key GIVEN the high levels of competition among the players of loan products, the only difference among them is the quality of service. Thus, most of them highlight the speed at which they process loans. Generally, a loan is approved within 72 ... More
No loans against 7% savings bonds LIFE INSURANCE SBI's Sanjeevan THIS week, we will look at SBI Life's single premium product "Sanjeevan". The product provides guaranteed survival benefit payouts as well as risk cover. PRIVATE BANKS Gold coins from ICICI Bank ICICI Bank is to retail 24-carat gold coins across the counter through its branches. The coins, imported from Switzerland carry a 99.99 per cent Assay certification, signifying the highest level of purity as per international industry standards. ... More PUBLIC SECTOR BANKS SBI examining sector-wise lending rates THE Reserve Bank of India has asked the country's largest public sector bank, State Bank of India (SBI) to study the issue of `sector-wise segmentation of prime lending rates' (PLR) and come back with its suggestions on the subject. Recently, ... More
Andhra Bank to set up two rural development bodies INTEREST RATES Higher rates for senior citizens For all those 65-plus buffeted by the falling interest rates, there might be some good news in the next Budget. The Finance Ministry is thinking of introducing a savings instrument for senior citizens which will offer interest rates higher than ... More
Lower interest rates on NRE deposits NON-PERFORMING ASSETS LVB seizes assets of four defaulters THE Karur-based Lakshmi Vilas Bank (LVB) carried out seizure operations by taking possession of two residential properties in Hyderabad and two properties - one commercial and the other residential - in Tamil Nadu, involving Rs 50 lakh in ... More
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