The Hindu Business Line : Friday, February 21, 2003

Rupee firm; gilts choppy
Mumbai: THE rupee ended on Thursday at 47.7000/7100 against the dollar as compared to Wednesday's close of 47.6950/7050 in the forex markets. "There was good buying interest for the greenback from foreign banks on the back of genuine corporate ... More

INFORMATION TECHNOLOGY

IDBI Bank's facility for corporates
IDBI Bank has launched a fund management product, a totally outsourced solution for managing corporate payables. The services offered under the product include cheque writing, instant payment at over 500 locations across the country, ... More

HOUSING FINANCE

SBI to reset existing home loan rates
STATE Bank of India is planning to realign the interest rates for its existing housing loans customers shortly. The bank will take a hit in order to pass on the benefits of lower interest rates to its customers, Mr P N Venkatachalam, Managing ... More

GENERAL INSURANCE

GIC can invest in foreign treasuries
GENERAL Insurance Corporation (GIC) has been permitted to park fully foreign premium receipts abroad and to invest in foreign government securities. GIC is the designated national reinsurer, but has also begun providing third country ... More

DEBT MARKET

Rs 13,600-cr placement with RBI deferred
THE private placement of debt worth Rs 13,600 crore by the Union Government with the Reserve Bank of India announced in January-end to prepay debt worth $ 2.8 billion has been deferred to a later date. The private placement, previous scheduled ... More

RBI & OTHER CENTRAL BANKS

Monitor country exposures on weekly basis, banks told
THE Reserve Bank of India, in its guidelines on country risk management, has asked banks to switchover to real-time monitoring of country exposures by March 31, 2004. Until then, banks have been asked to monitor their country exposures on a ... More

GOVT BONDS

State loans to carry 6.95% coupon rate
THE first tranche of on-tap issue of market borrowings of Rs 7,325 crore by all the States will be on February 25 and the ten-year securities will carry a coupon rate of 6.95 per cent, the Reserve Bank of India said. In case of ... More

FIXED DEPOSITS

HDFC Bank's FD issue gets `highest rating'
THE rating agency, Credit Analysis & Research Ltd (CARE), has assigned a `CARE AAA (FD)' rating to the fixed deposit programme of HDFC Bank. This is the highest rating for long and medium term instruments which is considered to be of the best ... More

ALLIANCES & JOINT VENTURES

UBI to sell HDFC Mutual products
UNION Bank of India (UBI) is targeting Rs 100 crore as fee-based income from various marketing and distribution tie-ups, according to Mr V. Leeladhar, CMD, UBI. Addressing a press briefing to announce the bank's tie-up with HDFC Mutual Fund for ... More

IPOS

UCO Bank plans IPO next fiscal
UCO Bank, the Kolkata-based public sector bank, is planning to tap the capital market with its initial public offer (IPO) during the next fiscal year to augment its capital to risk assets ratio (CRAR) keeping in view the growing business volumes ... More

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