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Saturday, September 27, 2003
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INSIGHT


The riddles of financing small sectors
AGRICULTURE and tiny and village industries sectors need most attention. They not only provide employment to large numbers of people, but an overwhelming chunk depends on these sectors for its livelihood. The financing ... More

FOREX


Rupee falls further; forwards crash
MUMBAI: The rupee closed at 45.8550/8650 per dollar on Friday, around 6 paise weaker, as compared to Thursday's close at 45.7950/8050, in a market driven by corporate demand for the greenbacks. "With the month-end around the corner, ... More

HOUSING FINANCE


HDFC bullish on 30% growth in loan segment
HDFC expects to post a growth of above 30 per cent in both loan approvals and disbursements during the current fiscal, according to Mr R.V.S. Rao, Executive Director. The company has fixed a target of achieving over Rs 14,500 crore of loan ... More

HFCs feel the pinch of rate wars
WITH cut-throat competition from banks in the housing loan market, housing finance companies (HFCs) are on a cautious note. With spreads under pressure, they admit they are not for playing the `rate war'. They believe that the housing loan market ... More

HDFC property fair in Hyderabad
THE Housing Development Finance Corporation's ( HDFC's) operations in Andhra Pradesh showed rapid progress during the last few years with cumulative approvals crossing Rs 2,000 crore as on June 30, 2003 for over 70,000 units, according to its ... More

Hudco may cut home loan rates
THE Housing and Urban Development Corporation (Hudco) is looking at ways to reduce its lending rates for housing loans. The Union Minister of State for Urban Development, Mr Bandaru Dattatraya, on Friday reviewed the company's working and ... More

`NHB must accord us rate parity with banks'
PRIVATE housing finance companies are looking up to the National Housing Bank (NHB) to provide a level playing field with banks, by treating them on par with banks while fixing the interest rate on refinance. They also want NHB to allow ... More

NON-PERFORMING ASSETS


Indian Bank set to recover big-time dues this year
A NUMBER of big ticket defaulters of Indian Bank - the Gemini group, MVR Industries, Binny and the HMP group, to name a few - are likely to settle their issues with the bank this year, according to sources. The Gemini group (which has ... More

90-day norm may push up banks' NPAs, hit profits
The net NPAs of banks may raise beyond the current levels of around 5 per cent of advances. Many banks have already begun making ad-hoc provisions for moving into the 90-day income recognition norm, as early as two years ago. More

CREDIT MARKET


SBI sees credit demand from core, power sectors
ALTHOUGH corporate credit has not witnessed significant growth recently, there is a good demand emerging from the infrastructure and power sectors, according to Mr A.K. Purwar, Chairman, State Bank of India. "There is significant demand for ... More

SHORT TERM INSTRUMENTS


RBI reduces T-bill auction amount
THE Reserve Bank of India has reduced the notified amount for the auctions of the 91-day Treasury bills with effect from October 1, 2003 till March 31, 2004 from Rs 1,500 crore to Rs 500 crore. In August, the central bank had increased the ... More

CREDIT CARDS & DEBIT CARDS


OBC launches pre-paid card with MasterCard
ORIENTAL Bank of Commerce (OBC) on Friday launched a prepaid card in tie-up with MasterCard International - the OBC PrePaid Card. The card on which cash can be loaded in pre-denominated figures ranging from Rs 1000 to Rs 50,000 would be ... More

EVENTS


`Short-term polls should not influence monetary policies'
MONETARY policies should not be influenced by short-term electoral cycles and there should be autonomy and harmony between the Central Bank and the Government, according to Dr Bimal Jalan, Member of Parliament, Rajya Sabha. Speaking at a FICCI ... More

`Banks must disclose accurate information'
BANKS need to implement appropriate performance measurement systems, re-orient their business processes and invest in technology to allow for capture and use of information at a granular level, according to Mr Ian Gomes, Country Managing ... More

CO-OPERATIVES


`Smear campaign' alleged
THE Visakhapatnam Co-operative Bank (VCB) Chairman and CPI leader, Mr Manam Anjaneyulu, has told his detractors to target him instead of the bank, which has been built up over eight decades by the dedicated efforts of many men. He told ... More

PEOPLE


New IBA chief
MUMBAI: The Indian Banks Association has elected Mr V. Leeladhar as its new Chairman, at its managing committee meeting on Thursday. Mr Leeladhar, CMD, Union Bank of India, has taken over from Dr Dalbir Singh, CMD, Central Bank of India. ... More
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In Focus
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In Depth
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Simple Economics
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Tax Talk
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Looking back
Sep. 14-Sep. 20
Pvt insurers face rough terrain in countryside

Rising dollar reserves of Asia — US has to mend its ways; trim deficit

Interest rates on NRE deposits cut further

Vijaya Bank prices issue at a premium of Rs 14

IOB issue gets 7 times more subscription

PSBs eyeing `good' assets of FIs

SC ruling may hit divestment of insurance cos

Banks differ with RBI on housing loans


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