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Tuesday, May 04, 2004

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MONEY & BANKING

INSIGHT
Managing the capital flow bonanza
Capital inflows have not merely resulted in an excessive accumulation of reserves with the Reserve Bank of India, but also in an appreciation of the rupee that is eroding India's export competitiveness. Analysing recent trends in the balance of payme nts, C. P. Chandrasekhar and Jayati Ghosh examine the nature of problem when it comes to managing capital inflows and its implication for policy. More

FOREX
Financial markets turn nervous — Sensex drops 70 points, rupee loses 29 paise on political concerns
A DOMINO effect was felt across the currency, stock and debt markets on Monday as nervousness prevailed among traders. While the Indian rupee lost 29 paise against the US dollar from its previous close, the BSE Sensex lost 70 points and the ... More

INFORMATION TECHNOLOGY
National Financial Switch to go live by July
THE Hyderabad-based Institute of Development and Research in Banking Technologies, an arm of the RBI, is setting up a National Financial Switch (NFS) that will enable sharing common technology infrastructure. The NFS is expected to go live by ... More

SOFTWARE
i-flex deal with Caribbean bank
BANGALORE: i-flex Solutions has signed a deal with Barbados-based FirstCaribbean International Bank to deploy its Flexcube@ technology platform to facilitate the bank's cross border operations in offering online real-time banking and ... More

LIFE INSURANCE
HDFC Standard posts 76% rise in biz premium
HDFC Standard Life Insurance Company Ltd today recorded a 76 per cent rise in new business premium over the previous financial year at Rs 232.5 crore for the fiscal ended March 31, 2004. The company has also declared fourth bonus for its ... More

GENERAL INSURANCE
ICICI Lombard premium income up
ICICI Lombard General Insurance Ltd has recorded a 144 per cent rise in its premium income at Rs 506.7 crore for the year ended March 31, 2004, against Rs 207.9 crore in 2002-03. The underwriting profit was at Rs 16.8 crore as compared to an ... More

FINANCIAL POLICY
New dividend norms may hit banks
THE recent RBI regulations on dividend payout will not only hit banks with high NPAs but also those not carrying extra capital. About 20 banks out of a list of 57 public and private banks do not meet the stipulated capital adequacy levels for ... More

Norms for foreign securities under ESOP relaxed
THE Reserve Bank of India has relaxed the guidelines for the acquisition of foreign securities under the ESOP scheme, consequent to which, henceforth, such shares need not be offered at a concessional price, and the sale of such shares does not ... More

PUBLIC SECTOR BANKS
Allahabad Bank plans Rs 100-cr issue
WITHIN two years of its maiden public issue, Allahabad Bank proposes to enter into the capital market again with an offer of equities some time in the third quarter of the current fiscal. The size of the issue will be Rs 100 crore. "Unlike ... More

GOVT BONDS
Second-rung corporates, SMEs rush for T-bills
FACED with low returns on bank deposits, second-rung corporates have begun parking their cash surpluses in treasury bills. Banking sources said that along with the second-rung corporates, some of the small and medium-scale enterprises have ... More

NON-PERFORMING ASSETS
SC judgment on Securitisation Act — Recovery follow-up to be tough for lenders
THE many thousands of notices sent by lenders to defaulting borrowers under the Securitisation Act asking them to pay up their dues are threatening to boomerang into a major headache for the banks and institutions themselves. The lending ... More

INTERVIEW
`CVC decision will help banks to be more vigilant'
FOLLOWING several representations made by the Indian Banks' Association (IBA), and the Banking Division of the Finance Ministry, the Central Vigilance Commission (CVC) has decided to limit its jurisdiction to officers of Scale V and above in ... More


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Top Stories
Managing the capital flow bonanza


SC judgment on Securitisation Act — Recovery follow-up to be tough for lenders

Leather exporters score gains in German, Italian markets

Second-rung corporates, SMEs rush for T-bills

Cement despatches higher in April

Boom time for IT, ITES realty offtake

Coffee exports come to a standstill

Looking back
Apr. 25-May. 1
Thin dividing line between insurance and MF products

CRR hike in offing?

When will Fed raise rates?

Bank stocks crash as RBI announces dividend policy

RBI cuts down on US T-bonds


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