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Thursday, February 12, 2004

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After 25 years, ICAI revises accounting norms `Preface'
IN a significant move, the Institute of Chartered Accountants of India (ICAI) has revised the `Preface' to the statements of accounting standards that are issued by the institute. The first and only version of the Preface was issued in 1979. ... More

Fallout of broking firms' downgrade — ICICI Bank share price moves down 8 pc
A DAY after ICICI Bank announced its Rs 3,500-crore equity issue to the Indian public, its share price today plunged by about 8 per cent on both the BSE and NSE. The shares, which had increased by around four per cent yesterday, immediately ... More

RBI terms for NBFCs insurance agency biz
THE Reserve Bank of India today announced that non-banking finance companies (NBFCs) registered with it might take up insurance agency business on a fee basis and without risk participation, without its approval. However, the permission comes ... More

No exposure cap for bank advances for ESOP, IPO
BANK advances to its employees for subscribing to its own ESOP or IPOs will be exempted from its overall exposure limit to the capital market. The Reserve Bank of India has stated that while extending bank finance to employees for purchasing ... More

IPCL: Sale document to be filed this week
THE Government will soon approach the Registrar of Companies with the offer document for the sale of its residual equity in Indian Petrochemicals Corporation Ltd (IPCL) following the final clearance of the public offer by SEBI. "The sale ... More

Shoppers' Stop IPO in 3 months
THE Raheja Corp-promoted Shoppers' Stop Ltd's proposed public offer is finally taking shape. The retail chain has appointed JM Morgan, Kotak Mahindra and Enam Securities to manage its IPO, which is expected to be floated in three months time, ... More

Mobile ringing in numerology
THE Indian appetite for the auspicious has now extended to telephone numbers as well, with mobile numbers especially, becoming mobile in more ways than one. "Can you give me your telephone number?" Bangalore-based Ms Deepa Ramaswamy was asked ... More

Private banks ahead of PSBs in advances
EVEN as credit growth is showing signs of picking up, private sector banks are continuing to register larger growth in advances compared to public sector banks. During the period between March and December 2003, private sector banks recorded ... More

MF investments point to hardening interest rates
PEOPLE who invest largely in company and bank fixed deposits may be in for a pleasant surprise as recent changes in bond investments by some mutual funds signal the chance of a rise in interest rates. Funds such as Franklin Templeton and Birla ... More




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