Financial Daily from THE HINDU group of publications
Wednesday, March 26, 2003
Forex Rates March 25 (4.30 p.m. IST)
1 PoundRs 74.98
1 EuroRs 50.90
1 USDRs 47.59
100 YenRs 39.75
1 Sing $Rs 26.99

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FOREX


Re gains 5 paise; gilts rise
Mumbai: THE rupee on Tuesday gained 5 paise against the dollar, in keeping with the international trend. The dollar lost against all major international currencies with the US attack on Iraq facing retaliation. The domestic currency ended at ... More

LIFE INSURANCE


Cover for personal/auto loans — SBI Life ties up with finance cos
SBI Life Insurance Company has tied up with GE Countrywide and Maruti Countrywide to provide life insurance cover against personal loans, two-wheeler loans and auto loans. Addressing presspersons here today, Mr R. Krishnamurthy, MD and CEO, SBI ... More

Corpn Bank to open more outlets in LIC premises
IN pursuance of its `strategic alliance' with Life Insurance Corporation (LIC), the Mangalore-based Corporation Bank is opening 33 more service outlets on LIC premises. These outlets, to be opened on March 26, will be spread across Punjab, ... More

DEBT MARKET


Time to lift ban on gilt short sales
With the huge increase in trading volumes, positions and portfolios, our bond market has turned more and more volatile. More

PUBLIC SECTOR BANKS


Dena Bank bond issue
MUMBAI: Dena Bank has informed the Bombay Stock Exchange that it has come out with an issue of 7 per cent unsecured, redeemable, non-convertible subordinate bonds on private placement basis. The bank plans to raise Rs 60 crore with an ... More

Bank of India plans rating tool for SSIs
BANK of India (BoI) will shortly introduce a credit rating system exclusively for the small-scale industries (SSIs), factoring in the problems unique to the sector, and things easier for borrowers from this segment. According to bank ... More

TRADE & LABOUR UNIONS


Bank unions want RBI to review stapling order
EVEN while the Reserve Bank of India has sought compliance on the `clean note policy', bank employees have decided to defy the order on stapling of notes. Raising objection to the introduction of non-stapling, the United Forum of Bank Unions ... More

CO-OPERATIVES


Prudential Bank staff `refuse' administrator
AT the headquarters of the Hyderabad-based ailing Prudential Cooperative Bank, employees refused to allow the Government-appointed Administrator to take charge of the affairs while superseding its board of directors on Tuesday. The staff ... More

ECONOMIC OFFENCES


Move to check NBFC, co-op bank frauds — AP Govt plans special court for economic offences
THE members of the Andhra Pradesh Legislative Assembly voiced their concern asking the Government to constitute a House Committee and prepare an action plan to address economic offences that have rocked several non-banking financial institutions ... More
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