The Hindu Business Line : Friday, January 31, 2003

SHGs help improve rural banks' finances
Regional Rural Banks avail 100 per cent refinance from Nabard at 6.5 per cent and lend to self-help groups at about 12 per cent. More

FOREX

Forwards spurt; Rupee firm
Mumbai: THERE was a further spurt in demand for forward dollar contracts on Thursday, on account of war fears. The forward premia jumped by close to 20 basis points from the previous levels. This is the fifth consecutive day that forward ... More

RBI studying cost of huge forex reserves
THE cost and composition of the burgeoning foreign exchange reserves appear to have become a matter of concern for the Reserve Bank of India. Dr Rakesh Mohan, RBI Deputy Governor, said that there were issues involved in managing such high ... More

PUBLIC SECTOR BANKS

BoI Q3 net up 27 pc
BANK of India (BoI) has reported a 27-per cent rise in net profit at Rs 196.89 crore for the third quarter ended December, 2002, compared to Rs 155.16 crore in the corresponding period of the previous year. Total income for the same period ... More

NPA slide drives Dena Bank net up
LOWER cost of funds and decline in non-performing assets have helped Dena Bank Ltd record a net profit of Rs 25.04 crore for the third quarter ended December, 2002 as compared to a net loss at Rs 1.09 crore in the corresponding period in the ... More

FOREIGN INSTITUTIONAL INVESTORS

European Investment Bank upbeat on India
THE European Investment Bank (EIB), the long-term financing arm of the European Union (EU) and the world's largest multilateral funding institution, has finally given a thumbs-up to India. Nearly a decade after signing an agreement with India in ... More

GOVT BONDS

To fund prepayment of external loans — Govt to place with RBI bonds for Rs 13,600 cr
THE Government will go for a private placement of bonds with the Reserve Bank of India to raise rupee resources for prepayment $2.8 billion loans to World Bank and Asian Development Bank. The Government had last week the announced pre-payment ... More

AP Govt floats development loans
HYDERABAD: The Andhra Pradesh Government has floated `AP State Development Loans, 2013, which carry an interest rate of 6.60 per cent. In a notification issued by the Principal Secretary to Government, Finance Department, Mr S.K. ... More

NON-PERFORMING ASSETS

Compromise settlement limit for NPAs raised to Rs 10 cr
In cases of accounts of above Rs 10 crore that are chronic NPAs, the CMDs of banks have been told to personally supervise the compromise settlement on a case-to-case basis. More

CO-OPERATIVES

Coop banks come under Securitisation Act
BARELY a month after the enactment of the Securitisation Act, the Government has vastly expanded the ambit of the law by bringing the co-operative credit structure within its fold. A notification to enable co-operative banks to draw powers under ... More

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