The Hindu Business Line : Sunday, May 18, 2003

Farmers switching over to low interest loans — Rural banks fail to pass benefit of falling rates
Nabard has to consider revision of interest on refinance on a concurrent basis in tune with the market trend so as to enable the cooperatives to extend the benefit of falling interest rate regime to farmers. More

FOREX

Forex reserves up by $961 m
FRESH dollar inflows and revaluation of the RBI's basket of currencies have augmented the country's foreign exchange reserves by nearly a billion dollars this week. Forex reserves gained $961 million to touch $78.559 billion for the week ended ... More

LIFE INSURANCE

Endowment Plans: Choose one that suits you best
LAST week we discussed a few of the endowment plans available. We also looked at the structuring of bonus payments and riders available. This week we will look at endowment plans structured with some innovative features. Extended ... More

ICICI Pru LifeGuard
LAST week, we looked at a variant of a term plan that returns the premiums if the policyholder survives the policy duration. This week, we will examine a simple term plan from ICICI Prudential. How the plan ... More

PRIVATE BANKS

UTI Bank unveils a/c for defence personnel
UTI Bank has launched a zero balance savings (salary) account for defence personnel in the country, `Power Salute'. Mr S Chatterjee, Executive Director of the bank, today announced the launch. The account offers centralised direct credit of the ... More

PUBLIC SECTOR BANKS

Treasury income boosts Allahabad Bank's net
ALLAHABAD BANK has posted a net profit of Rs 165.99 crore in 2002-03, representing 106.94 per cent growth over the previous year. Mr K.K. Rai, Executive Director, while briefing newspersons about the performance of the bank , attributed the ... More

PNB board meet on May 26

FINANCIAL INSTITUTIONS

Scare for REC bond investors
THE hunt for higher yields in 2002-03 took investors' money to destinations not seen so far. One such parking slot was the Rural Electrification Corporation bond. It now turns out that the risk involved in these bonds may have been significantly ... More

IDBI: A creditable option
IDBI's `Suvidha' fixed deposit scheme is open for investment. Income from the deposits is eligible for tax benefit u/s 80L of the IT Act. Senior citizens also get an additional interest rate of 0.5 per cent. An investment up to one-year is ... More

GOVT BONDS

Beware! High coupons do not mean high returns
YOU may have noticed advertisements from consultants who offer you government bonds that pay interest as high as 11 per cent. Beware! The actual returns on such bonds will be substantially lower. Why? Take a 10-year bond of Rs 100. Suppose the ... More

MERGERS & ACQUISITIONS

Newbridge Capital in talks for GTB stake
US investment firm Newbridge Capital and Global Trust Bank Ltd (GTB) are in talks that may lead to Newbridge picking up a sizeable equity stake in the Hyderabad-based bank. Industry sources close to the development told Business Line ... More

Allbank Fin to be merged with parent
ALLBANK Finance, the subsidiary of Allahabad Bank, is to be merged into its parent organisation shortly. Mr K K Rai, Executive Director of Allahabad Bank, said here today the merger would help the bank book a profit of Rs 10 crore in the ... More

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