Financial Daily from THE HINDU group of publications
Saturday, December 28, 2002
| Forex Rates Dec. 27 (4.30 p.m. IST) | ||||||||||
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Financial Daily from THE HINDU group of publications Saturday, December 28, 2002 |
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MONEY & BANKING FOREX Exchange reserves management — Is there a bold new way out? It is the monetisation of the foreign exchange resources by the RBI which has enabled the Government borrow heavily from commercial banks and at such low rates of interest. But the RBI would prefer the Government borrowed from banks. And by holding down the external value of the rupee, imports are being discouraged. By that, the country is losing in terms of import duties, ballooning the fiscal deficit, says P. R. Brahmananda More
Re at 13-month high; bonds rally LIFE INSURANCE Kotak Mahindra bundles free insurance with plan KOTAK Mahindra Mutual Fund will offer free life insurance to prospective investors in its K Bond Deposit Plan, according to Mr Atul Sharma, Vice-President Marketing, Kotak Mahindra Asset Management Company Ltd. Addressing newspersons here on ... More GENERAL INSURANCE Settling of motor accident claims — Police, insurance cos told to follow mandatory provisions THE Madras High Court has held that in order to avoid any problem in settling the claims of persons involved in vehicle accidents, the mandatory provisions should be fully complied with by the police, insurance companies and the ... More PRIVATE BANKS ICICI Bank introduces `Welcome Kit' ICICI Bank unveiled its special product — `Welcome Kit' in Coimbatore on Friday. The Kit, according to the bank's regional head, Mr T.V. Narayanan, would enable the person, who opens an account with ICICI Bank to operate his account ... More
Kotak Mahindra retail banking from February GOVT BONDS FRB interest at 5.92 pc THE rate of interest on the floating rate bonds, 2017 (FRB 2017) applicable for the coming half-year shall be 5.92 per cent per annum as against 6.84 per cent in the previous half-year. According to an RBI statement, the rate of the FRB issued ... More CORPORATE BONDS Nabard cuts capital gain bonds rates THE National Bank for Agriculture and Rural Development (Nabard) has decided to reduce the interest rate on its capital gains bonds to 6 per cent per annum from the existing rate of 6.5 per cent, with effect from January 2, 2003. Subscriptions ... More EVENTS 
Jalan optimistic about achieving 8 pc growthTHE Reserve Bank of India (RBI) has expressed optimism about achieving the 8 per cent growth targeted by the National Development Council for the Tenth Plan period. Inaugurating the 24th Bank Economists' Conference here today, the RBI Governor, ... More IPOS Indian Bank may go for IPO in one year INDIAN Bank is planning to approach the capital market for initial share sell (IPO) in one year, the Chairperson and Managing Director, Ms Ranjana Kumar, said. "Once we fulfil the norms (for restructuring), of course we will go for an IPO," Ms ... More TRENDS 
Reforming into new-age bankingBANKING sector reforms are now in the final phase since it began in 1992. These structural adjustments were intended on strengthening domestic banks and transforming them into highly competitive financial institutions. The reforms, initiated ... More
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Top Stories In Focus Inside China Gujarat Elections Stock scam unravelling Red signal for Chinese silk Petrol pump controversy Small Investor In Depth Gender Justice Simple Economics India Interior Consumer Notes Looking back Dec. 15-Dec. 21 Bank audits could vanish into thin air Lenders seek to shut BIFR door against defaulters SBI, BoI to test waters in securitisation market Bank of India hires Deloitte as agent to recover NPAs Rupee touches 47.97 States told to go easy on bond guarantees Banks shy away from Nabard refinance |
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