The Hindu Business Line : Wednesday, August 20, 2003

PF subscribers above 55 can draw 90% for pension scheme
THE Employees Provident Fund Organisation (EPFO) has decided to allow provident fund subscribers above the age of 55 to withdraw up to 90 per cent of the accruals for investment in the Varishta Pension Bima Yojana run by the Life Insurance ... More

FOREX

RBI intervenes to check rupee rise
MUMBAI: The rupee moved up by a mere single paise on Tuesday despite good dollar inflows. The appreciation was marred by the central bank's intervention in the market. The domestic currency closed at 45.83/84 against the dollar as ... More

STOCKS

FIIs hiking stake in bank stocks
BANKING stocks appear to have been the favourites among Foreign Institutional Investors (FIIs) during the April-June quarter, this year. FIIs have bought major bank stocks including Union Bank, Canara Bank, Punjab National Bank, Vysya Bank and ... More

`Takeover' rumours to keep interest in IDBI Bank alive
IN sharp contrast to Monday's trade, shares of IDBI Bank corrected on the bourses on profit taking by operators. However, brokers maintain that with the bank being a favourable takeover candidate, operator interest in the counter will be ... More

SOFTWARE

USER WATCH
Money on the move
This cooperative bank in Pune is seeking to make anytime, anywhere banking a reality for its customers through the use of software. More

LIFE INSURANCE

AMP Sanmar hopes to double premium income
AMP Sanmar, the life insurance joint venture between the Australian insurance major AMP and the Chennai-based industrial major Sanmar group, expects to double its premium income during the current fiscal and hopes to repeat similar performance in ... More

FINANCIAL POLICY

Govt unveils credit package for small sector — Rates on SFC loans lowered; interest deferral for SIDBI
The SFCs have also been advised to bring down their non-performing assets to less than 10 per cent, along with moves to downsize their staff. The NPAs account for 60 per cent of the total assets. More

Panel nod for scrapping 10 pc cap on voting rights in banks
The Committee feels that removal of restriction on voting rights is a step in the right direction. More

CREDIT MARKET

Micro-credit: Postal dept, banks in talks
IT has been just started as an experiment, first only in Tamil Nadu. Negotiations are still on and the parties are trying to skirt a deadlock. But still, the contours are slowly becoming evident. In the negotiations that have happened over the ... More

PEOPLE

New CEO for fixed income money market association
THE Fixed Income Money Market and Derivatives Association of India (FIMMDA) has appointed a new CEO, Mr M.S. Annigeri, who was heading the government-banking group for the Southern region at ICICI Bank will now be at the helm of the debt market ... More

Govt nominee on Andhra Bank board

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