The Hindu Business Line : Friday, March 07, 2003

`Banks must verify specimen signatures for cheque books'
SOUTH Indian Bank Ltd "failed not once, but twice'' to correctly verify/compare the signatures of an account holder on the cheques and the specimen signatures with them on record — one at the time of issue of the cheque book and again at ... More

FOREX

Re strengthens; gilts up
Mumbai: THE rupee ended stronger on Thursday at 47.6250/6300 against the dollar as compared to Wednesday's close of 47.6400/6450 in the forex markets. The domestic unit was seen appreciating on back of good supplies of the dollar. However, ... More

CONSULTING

`Service tax plan will hit consultancies'
THE move to withdraw service tax exemptions for professional fee received in convertible foreign exchange, which forms part of the provisions of the Finance Bill 2003, has drawn flak from the Madras Consulting Group, a provider of management ... More

LIFE INSURANCE

Birla Sun Life looks at Rs 205-cr premium income
BIRLA Sun Life Insurance is targeting a premium income of Rs 205 crore for this financial year as compared to Rs 36 crore last year, according to Mr Nani Javeri, CEO, Birla Sun Life Insurance. Speaking at a press conference to announce the ... More

GENERAL INSURANCE

IRDA allows surveyors to shift depts
IN a significant development, the Insurance Regulatory and Development Authority (IRDA) has decided to permit licensed surveyors to shift their department, however, with the approval of the regulator. IRDA in its latest communiqué said the ... More

PUBLIC SECTOR BANKS

Syndicate Bank to fund solar lighting projects
SYNDICATE Bank has offered funding for solar lighting projects in the country. It has set a target of 20,000 solar units to be funded during this fiscal. Syndicate Bank is the second public sector bank to offer funding for solar lighting ... More

FINANCIAL INSTITUTIONS

Hudco raises Rs 700 cr from public deposits
HOUSING and Urban Development Corporation (Hudco) has added fresh deposits worth Rs 700 crore to its Public Deposit Scheme, thereby registering a 100 per cent growth over last year. Speaking to Business Line, Dr P.S. Rana, Senior ... More

CORPORATE BONDS

Union Bank bonds fully subscribed
UNION Bank of India's unsecured redeemable non-convertible subordinated bonds issue of Rs 400-crore has been fully subscribed through private placement. The tenor of the bond is 85 months and priced at 6.9 per cent, said a press release. The ... More

CO-OPERATIVES

Co-op banks cut interest rates on fixed deposits
THE co-operative banks in the State have reduced the interest rates on fixed deposits. Accordingly, the State Co-operative Bank will now pay an interest of 4.75 per cent for deposits between 15 and 45 days, while the district co-operative banks ... More

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