The Hindu Business Line : Tuesday, August 19, 2003

Banks reluctant to disclose `unrealised gains' in debt
SEVERAL banks are reluctant to report the `unrealised gains' in their debt portfolios, despite requests from the Reserve Bank of India. Although the RBI has not yet come out with a directive in this regard, the central bank has been informally ... More

FOREX

Re closes firmer
MUMBAI: With bunched up supplies of the greenback, the rupee closed seven paise stronger on Monday at 45.84/85 against the dollar. On Thursday, the previous working day, the domestic currency had ended the day at 45.91/92. "With the ... More

LIFE INSURANCE

AMP Sanmar pegs Rs 30-cr annual premium
AMP Sanmar, the life insurance joint venture between AMP of Australia and the Sanmar group, is anticipating good performance in Kerala with an expected first-year premium of Rs 30 crore this year. Addressing newspersons on Monday, Mr Graham ... More

GENERAL INSURANCE

Low-premium health insurance — PSU insurers set to lose over Rs 10,000 cr
The public sector insurers have sought Government support to meet the potential liabilities for the health insurance scheme. More

PUBLIC SECTOR BANKS

IOB's non-food credit surges
INDIAN Overseas Bank's non-food credit during the first four months of the current year has increased to Rs 650 crore (from March 31, 2003 level), compared to Rs 389 crore in the first four months of last year. Speaking to Business Line, ... More

FOREIGN BANKS

HSBC into insurance broking — Golden handshake overshoots target
MORE than 500 employees of Hong Kong and Shanghai Banking Corporation Ltd (HSBC) — both clerical and non-clerical staff have accepted the voluntary retirement scheme (VRS), which closed on July 31. "The scheme open to only non-managerial ... More

GOVT BONDS

State development loans sale on Aug 25
STATE Governments will sell on tap State development loans at an interest rate of 6.20 per cent aggregating Rs 8,000 on August 25. The loans with a maturity of 12 years, is the third tranche of additional market borrowing on account of the debt ... More

CORPORATE BONDS

ICICI Bank bond issue to open on Aug 22; cuts interest rates
ICICI Bank has cut the interest rates by 100 to 75 basis points on its latest offering of retail infrastructure bonds for an amount of Rs 300 crore, as compared to the last issuance in February 2003. The offering of unsecured redeemable bonds ... More

KBJNL saves Rs 27 cr through call option
KRISHNA Bhagya Jala Nigam Ltd (KBJNL) has exercised a call option on its series VIIA bonds raised for seven years tenure in 1998-99 which had a put/call option at the end of the fifth year and managed to save Rs 27 crore tracking a soft interest ... More

CO-OPERATIVES

Bill makes co-ops to ponder on life after 56
"We cannot have a situation where a single yardstick is applied for all kinds of institutions. One cannot trample on the rights that cooperative institutions enjoy because of their very nature of existence as cooperatives," Mr Krishna, who is spearhe ading the sector's response to the Bill, said. More

NEW PRODUCTS & SERVICES

HDFC Standard Life to launch `unitised with profits' scheme
HDFC Standard Life Insurance Company proposes to introduce a `unitised with profits' policy, which is a sort of a combination of a unit-linked scheme and an endowment scheme. The company would then be the second insurer to offer this policy, ... More

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