The Hindu Business Line : Wednesday, February 12, 2003

Re loses 5 paise; gilts tumble
Mumbai: ON account of heavy dollar buying by corporates, the rupee closed 5 paise weaker at 47.74/75 against the dollar on Tuesday as compared to Monday's close of 47.6900/6950. Oil, manufacturing and telecom companies were seen buying huge ... More

INSURANCE

LVB launches Aviva insurance products
LAKSHMI Vilas Bank Ltd would market a range of life insurance products through its 22 branches in the State and strive to convert the branches into one-stop financial service centres, Mr A. Krishnamoorthy, the Chairman and CEO of the bank, ... More

HOUSING FINANCE

RBI to subscribe to another Rs 100-cr equity in NHB
THE Reserve Bank of India has decided to subscribe to an additional Rs 100 crore in equity in the National Housing Bank. With the Government since issuing a notification to give effect to this decision, the authorised capital of NHB will stand ... More

`Pricing isn't all in home loans' — Mr S.C. Jain, CEO, LIC Housing
PRICING is not the only factor that drives growth in housing finance business, says Mr S.C. Jain, new CEO of LIC Housing Finance Ltd, which has notched up over 50 per cent growth in the current fiscal. "Though ours is among the lowest priced ... More

GENERAL INSURANCE

Aviva to open call centre
UNITED Kingdom's Aviva Plc plans to set up a call centre in India, which could employ 1,000 people by end-2003, the company has said in a statement on its Web site. The company also plans to develop a claims processing operation for its UK ... More

CREDIT RATING

Fitch affirms foreign currency ratings at `BB'
INTERNATIONAL rating agency `Fitch' has affirmed India's long-term foreign currency and local currency ratings at `BB' and `BB'+ respectively. The short-term foreign currency rating is `B'. The affirmation and stable rating outlook balances ... More

FINANCIAL MARKETS

Gloom & doom overdone?
UNCERTAINTY continues to dog financial markets all over the world. The prospect of a war with Iraq has led to a dramatic surge in the price of oil and gold. While the rise in crude was entirely expected, gold has come out of a long somnolence ... More

PRIVATE BANKS

ICICI Bank likely to see pressure on profits
ICICI Bank's profitability may suffer adversely in the current fiscal because of the bank's complying with prudential norms of statutory liquidity ratio (SLR) and cash reserve ratio (CRR) that the merged entity has to maintain, the bank has said ... More

HDFC Bank upbeat on retail growth
HDFC Bank, which has been registering significant growth in retail banking segment, expects the retail segment to contribute about 50 per cent of the bank's profit soon. According to the HDFC Bank Country Head, Retail Banking, Mr Neeraj ... More

`Project financing on comeback trail'
THE ICICI Bank Managing Director and Chief Executive Officer, Mr K.V. Kamath, sees first signs of return of "project financing," with the bank receiving at least six proposals in the last two months. He, however, admits that it would take six ... More

CORPORATE BONDS

ICICI Bank cuts interest rates on Feb bonds
IN keeping with the lower interest rate regime, ICICI Bank has cut the rates on the second tranche of its unsecured redeemable bonds worth Rs 400 crore, which is open for subscription from February 14. The interest rates on the `ICICI Bank ... More

CREDIT CARDS & DEBIT CARDS

ATM cards find flavour among cabbies
SANTHOSH, a taxi driver in Kochi, cannot imagine his days without ATM cards and plastic money. Gone are the days when he used to ferry people from city to city with his purse stuffed with currency notes for fuel and food. And Santhosh is not ... More

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