The Hindu Business Line : Saturday, November 08, 2003

Monsoon bonanza for farmers from banks
BUOYED by a good monsoon, several State-run banks are stepping up their rural credit disbursement initiatives in Karnataka. Most of the new schemes are floated to trigger farm equipment financing while Canara Bank has signed a pact with Nabard to ... More

FINANCIAL SERVICES

Custom House Agents licensing rules to be amended
CUSTOM House Agents (CHA) licensing rules are to be amended by the Government to streamline operations to boost exports and imports, according to the Minister of State for Finance, Mr Shripad Naik. Addressing the Custom House Agents ... More

FOREX

Forwards surge; gilts decline
MUMBAI: The rupee closed marginally stronger at 45.26/2650 against the dollar on Friday buoyed by steady dollar inflows, compared to Thursday's closing of 45.31. After opening the day at around Thursday's levels, the domestic currency ... More

INSURANCE

Private insurers improve market share in first half
PRIVATE insurance players belonging to both life and non-life segments have significantly improved their market share during the first half of the current fiscal year ended September 30, as per the figures compiled by the Insurance Regulatory and ... More

CREDIT POLICY

Reddy Money Policy
THOUGH Dr Y.V. Reddy disappointed many who were looking for a dramatic credit policy, he was, however, like the proverbial crow that sat on the palm fruit and took the credit for its fall. The Sensex zoomed past 5,000 and that was something ... More

LIFE INSURANCE

Birla Sun Life opens branch in Vizag
BIRLA Sun Life Insurance is introducing innovative, need-based products such as unit-linked ones in the Indian market and the other private insurers are following suit, Mr Nana Javeri, Chief Executive Officer, has said. He was speaking at a ... More

GENERAL INSURANCE

Health risk claims top premia collected
INSURANCE companies are likely to dispute claims by the insured if they have doubts about the accuracy of declarations by the latter before buying a health insurance policy. Data with insurance ombudsmen (persons who investigate and settle ... More

PRIVATE BANKS

IndusInd plans 20 more branches
INDUSIND Bank is planning to open 20 more branches during the current financial year and the half-yearly net profit of the bank has gone up to Rs 100.87 crore from Rs 42.86 crore during the corresponding period last year. This was stated by ... More

Four pvt banks can accept indirect taxes
IN addition to direct tax collections and pension disbursements, another pie where new age private banks have been permitted to dip their hands into indirect taxes - excise and service tax collections. Traditionally an area exclusive to ... More

Federal Bank forum
KOCHI: Federal Bank held its "Federelites Forum" meeting which is the annual platform for recognising the top performing branches and staff across the country here. The Gold trophy award this year was bagged by Bangalore Gandhi Nagar ... More

PUBLIC SECTOR BANKS

SBI drops deposit rates
STATE Bank of India has decided to lower its deposit rates by 25 to 50 basis points across maturities with effect from November 10. Interest rates on domestic term deposits with a maturity of 15-45 days have been lowered by 25 basis points to 4 ... More

FOREIGN BANKS

Foreign banks allowed to remit profits
FOREIGN banks operating in India have been permitted to remit net profits/surplus (net of tax) earned, on a quarterly basis to their head offices. The remittance can be made following quarterly audit, without prior the Reserve Bank of India ... More

INTEREST RATES

Corporation Bank revises FCNR (B) rates
CORPORATION Bank has revised interest rates on FCNR (B) deposits with effect from November 6. The interest rates on RFC deposits are also revised accordingly, the release added. ... More

GOVT BONDS

9-year bond sale oversubscribed
THE Rs 5,000 crore worth of the nine-year floating rate bond auctioned today by the Reserve Bank of India was over-subscribed up to double the notified amount. The central bank received 85 competitive bids worth Rs 10,930 crore out of which ... More

CORPORATE BONDS

Banks' tier-II bond plans hit SEBI roadblock
A SLEW of tier-II bond issues planned by various public and private sector banks has sailed into rough weather, with the Securities and Exchange Board of India (SEBI) insisting on compliance with its disclosure norms. The bulk of the tier-II ... More

NON-PERFORMING ASSETS

Dhanalakshmi Bank takes possession of Pentasoft property
DHANALAKSHMI Bank has taken possession of the property located in Chennai belonging to Pentasoft Technologies after the latter failed to repay a loan. The bank gained possession under the umbrella of the Securitisation Act. A press release ... More

SECURITISATION

Chamber seeks relook at Securitisation Act
NEW DELHI: The PHD Chamber of Commerce and Industry (Phdcci) has called for a re-look at the Securitisation and Reconstruction of the Financial Assets and Enforcement of Security Interest Act, 2002 vis-à-vis the "disadvantaged position of ... More

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