The Hindu Business Line : Monday, May 26, 2003

Nepal bans notes of Rs 1,000 denomination
POSSESSION of Indian currency notes of Rs 1,000 denomination has been prohibited in Nepal. The Central Board of Excise and Customs (CBEC) has now directed its commissionerates to display notices about the new provision of Nepalese law at ... More

Dollar-yen likely to stay in a range
In an export-intensive economy like Japan, the strength of the currency has relevance for the business houses. Large Japanese companies have excelled in the art of setting up production capacities in different countries and shifting production to fig ht the currency fluctuations. More

INSURANCE

Excellent Insurance opens branch

CONSUMER FINANCE

SBI, Maruti team up to tap car market
STATE Bank of India (SBI) and Maruti Udyog Ltd have announced a joint initiative aimed at making car finance affordable to middle and lower middle class customers. Customers will now have transparent car finance involving no hidden charges and ... More

FOREIGN BANKS

Foreign banks reluctant to set up overseas units
OFFSHORE banking units (OBUs) are getting popular among Indian banks as many of them queue-up to establish such units in the Special Economic Zones (SEZs) of the country. While Indian banks have expressed enthusiasm, the foreign banks have ... More

GOVT BONDS

Yield-gap narrows between PSU bonds, gilts
Banks have begun switching heavily into public sector securities; the favoured ones are REC, PFC, NTPC, IRFC and NHPC. The PSU bond yields are just about 40 basis points above comparable sovereign securities. More

States want to buy back high-coupon loans — RBI, Centre moved for approval, IT reliefs
A CLUTCH of States has sought the Reserve Bank of India's approval for buying back high-coupon State Development Loans (SDL). These securities are held by the banks as part of their statutory liquidity ratio and are sovereign guaranteed. The ... More

NON-PERFORMING ASSETS

Coimbatore debt tribunal remains a non-starter
EVEN after completing one year, the Debt Recovery Tribunal (DRT) in Coimbatore continues to remain a non-starter. The lethargy in clearing the cases pending before it has now turned to be the focal point of discussion. It is reported that not a ... More

CO-OPERATIVES

All regulatory exemptions to go — Co-op banks to come under RBI control
The decision is a follow-up of the recommendations of the JPC on the stock scam, which pointed out serious lacunae in the regulation of the co-operative banks. More

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