The Hindu Business Line : Sunday, August 24, 2003

Pension regulator, new scheme get nod
THE blueprint for the new pension system in the country got the Union Cabinet's assent on Saturday. It is to be initiated by the setting up of an interim Pension Fund Regulatory and Development Authority (PFRDA) through an executive order. The ... More

FOREX

Forex reserves rise $418 m on FII inflows
ON the back of continued FII inflows, external commercial borrowings and revaluation of the basket of currencies, the foreign exchange reserves of the country have gone up by $ 418 million for the week ended August 15, 2003 to touch $ 85.415 ... More

STOCKS

Sundaram Finance: Buy
FRESH investments can be considered in the stock of Sundaram Finance. The stock now trades at a dividend yield of 4.2 per cent. Given that the dividend payout is only about 33 per cent and with profits growing, there ... More

HDFC: Book profits partially
THE stock of HDFC has run up sharply in the last few months. The stock is now trading at a multiple of nearly 16 times its earnings for the 12-month period ended June 2003. The valuation commanded by HDFC is one of the highest in the banking ... More

LIFE INSURANCE

INSURANCE CORNER
ICICI Pru's SecurePlus
ICICI Prudential recently launched SecurePlus, a plan that provides policyholders with the benefits of both protection and savings. Premium payments made by the policyholder are invested in a portfolio that is ... More

INTEREST RATES

RBI cuts repo rate to 4.5 pc
IN a surprise move, the Reserve Bank of India today cut repo rate by 50 basis points to 4.5 per cent. Repo rate is the short-term interest rate at which banks can park their funds with the central bank. On Saturday, RBI announced that " in ... More

Banks may drop deposit, lending rates
BANKS are likely to cut deposit rates following the 50 basis point cut in the repo rate by the RBI on Saturday. Several banks, both public and private sector, will be convening their asset liability committee meetings next week to discuss the ... More

CORPORATE BONDS

ICICI Safety Bonds August 2003 — Still an attractive bet
ICICI has hit the streets with its `Safety Bonds' offer much earlier this year than it did in 2002-03. However, there is nothing much in it to cheer for investors. The coupon rate on the Tax Saving Bonds is lower than ... More

CO-OPERATIVES

Vasavi Co-op Bank recovers Rs 24.89 cr
THE crisis-ridden Vasavi Co-operative Urban Bank Ltd has been able to recover Rs 24.89 crore, including Rs 6.43 crore from the erstwhile directors of the bank since March 7, 2003, out of a total advances of Rs 171.75 crore, including Rs 55.21 ... More

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