The Hindu Business Line : Thursday, February 27, 2003

Re firms up; gilts bullish
Mumbai: THE rupee firmed up to close at its highest in over an year and a half at 47.68/6850 per dollar on Wednesday in a bullish forex market. The domestic unit on Tuesday closed at 47.7150/72. Dealers ascribed the strengthening of the ... More

STOCKS

PSU bank stocks tumble ahead of Budget
JUST ahead of the Union Budget, most public sector banks fell on expectation that the Government may not allow the much-expected hike in foreign holding in these banks. The selling trigger in most counters came following the Finance Minister, ... More

SOFTWARE

Infosys' banking summit in Bangkok
BANGALORE: Infosys Technologies is hosting a banking summit with a theme "Technology-enabled agile banking" at Bangkok on March 3. The summit is being inaugurated by the Thailand Prime Minister, Dr Thaksin Shinawatra and presided over ... More

LIFE INSURANCE

AMP Sanmar unveils pension plan
AMP Sanmar Assurance launched a pension plan, `Bhagya Shree', today. A company release says that the plan has been structured with flexibility as the key principle. Company officials identified multiple options provided to customers in relation ... More

CREDIT RATING

Redington debt plan on watch
THE `P1+' rating assigned to the Rs 80-crore short-term debt programme of Redington has been placed on rating watch by Crisil, following the announcement that GTL Ltd plans to acquire the company. GTL has said that it plans to acquire the ... More

Bombay Dyeing issues get `F1+'

PRIVATE BANKS

HDFC Bank's `Wheels of Fortune'

PUBLIC SECTOR BANKS

Dena Bank to sell OM Kotak life products
DENA Bank and OM Kotak Mahindra Life Insurance Company Ltd (OMKM) today announced a strategic alliance for bancassurance. Under the `mutually exclusive referral' arrangement, OMKM's life insurance products will be made available through Dena ... More

FINANCIAL INSTITUTIONS

IRFC to borrow $ 100 m abroad
INDIAN Railway Finance Corporation Ltd (IRFC) has entered the overseas market with a plan to borrow $100 million which would be utilised to retire some of its earlier high cost loans, a top railway Ministry official said. The borrowing arm of ... More

INTEREST RATES

Bank lending rates data on RBI Web site
IN a bid to create more transparency with regard to bank's lending rates, the Reserve Bank of India has started publishing data on lending rates of scheduled commercial banks on its Web site. In its monetary and credit policy for 2002-2003 in ... More

NON-PERFORMING ASSETS

Lenders free to decide on NPA categorisation — Govt rejects industry plea on `honest failure'
THE Government today ruled out any further legislative flexibility to the existing securitisation law in the matter of settlement of non-performing assets (NPAs) even as it recognised the validity of industry's suggestion over the need for a ... More

CO-OPERATIVES

RBI okays revival package — Charminar Bank to reopen on Monday
Individual deposits up to Rs 1 lakh will be repaid immediately, while those who have deposits of more than Rs 1 lakh will also be paid Rs 1 lakh initially. More

PEOPLE

SBI Home Finance Managing Director

TRENDS

Speedy growth, indifferent service

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