The Hindu Business Line : Saturday, October 11, 2003

IL&FS Investsmart to scale up PMS — To target `middle' market segment
IL&FS Investsmart plans to scale up its portfolio management scheme with a view to cater to more investors in the medium net worth segment in addition to large, bulge-bracket clients. The company sees significant opportunities emerging from ... More

FOREX

Appreciating rupee triggers discounting of export bills
In fact, till recently, when forward premiums were ruling high, most exporters preferred to arbitrage between the pre/post shipment foreign currency window and forward premiums. More

Rupee loses shine; gilts turn weak
MUMBAI: Amid active mopping up of the greenbacks by State-run banks, the rupee shed Thursday's gains, losing around 11 paise against the dollar on Friday to close at 45.38/39.On Thursday, it closed at 45.2650/27 Dealers said, public ... More

`RBI should intervene often to limit rupee rise'
IT is not only the exporters who are feeling the pinch of an appreciating rupee against the dollar. Even some of the chambers of commerce and industry associations, it appears, are beginning to feel the heat of recent appreciation of rupee. ... More

CREDIT POLICY

Y.V. Reddy's maiden Credit Policy on Nov 3
THE Reserve Bank of India Governor, Dr Yaga Venugopal Reddy, will present his maiden mid-term review of the Monetary and Credit Policy for 2003-04 on November 3. Bankers expect the new Governor who took charge on September 6, to continue the ... More

FINANCIAL PERFORMANCE

Wholesale banking, low cost of funds boost HDFC Bank's Q2 net — First-half profit at Rs 224 crore
HIGHER earnings from wholesale banking and lower cost of funds enabled HDFC Bank to report a 30.6 per cent increase in net profit at Rs 117.14 crore for the second quarter ended September 30, 2003-04, up from Rs 89.69 crore in the corresponding ... More

LIFE INSURANCE

LIC bags tainted ACC shares at Rs 170
LIFE Insurance Corporation of India on Friday won the bid for the 1.62-crore block of shares of Associated Cement Companies (ACC) auctioned by the custodian. LIC's winning bid, at Rs 170 per share is at 16 per cent discount to today's closing ... More

GENERAL INSURANCE

IRDA not satisfied with progress of TPA system
THE Insurance Regulatory and Development Authority (IRDA) is not satisfied with the progress achieved by the system of third-party administrators (TPAs) so far in the country and is in the process of streamlining the prevailing healthcare ... More

GOVT BONDS

Rs 11,000-cr offer oversubscribed
THE RBI's open market operation to absorb Rs 11,000 crore worth of liquidity from the bond market was a success, and was oversubscribed by almost Rs 9,000 crore. The 5.48 per cent 2009 paper, which was on sale for a notified amount of Rs 5,000 ... More

BOOKS

'Modern tech, capital expansion must for survival of small banks'
THE former Chairman and Managing Director of Syndicate Bank, Dr Thingalaya, has said that expansion of capital, introduction of modern technology and low NPA rate are necessary for the survival of small banks in India. Speaking at a function ... More

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