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Tuesday, August 24, 2004

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MONEY & BANKING

FARM CREDIT
Banks filing monthly reports on agri-lending
"The banks would now take the issue more seriously. Earlier, their representatives often did not even show up at our periodic review meetings. With data being filed on a monthly basis now, there will be a greater sense of urgency to meet targets. It would also help us in identifying and resolving their problems," a Nabard official said. More

FOREX
S&P upgrades India currency rating outlook
`The country's fiscal weakness is the worst among rated sovereigns, leaving it particularly vulnerable to economic cycles and any decline in growth rates.' More

Ratings evoke mixed response
THERE were mixed reactions to the Standard and Poor's upgradations of India's long-term foreign currency and local currency rating outlooks. Speaking at the sidelines of a `cyber-safety' conference here today, Mr M. Damodharan, Chairman, UTI ... More

INFORMATION TECHNOLOGY
Diebold to launch teller assist system
WITH the ATM market set to grow at 30 per cent annually, Diebold Systems has come out with strategic approach of segmentised marketing to improve its market share. Its experiment with the introduction of Island ATM and offering of mobile ATM ... More

SOFTWARE
Polaris, Indonesian bank settle row — Firm to pay $1 m; BAG to return software
POLARIS Software Lab Ltd and Bank Artha Graha (BAG), Indonesia, have agreed to settle all their disputes and agreed to seek to have police complaints withdrawn. Polaris has agreed to make full restitution to BAG in the sum of $1 million ... More

Nucleus bags Philippines order
NEW DELHI: Nucleus Software Exports Ltd on Monday announced it has bagged an order from Planters Development Bank, Philippines, to implement FinnOne lending, loan originating systems for both retail and corporate banking. FinnOne ... More

CONSUMER FINANCE
SBI kicks off fresh retail loan bait with Onam offer
WAIT before you rush to your bank to ditch your floating rate loan accounts and plumb for a fixed rate system, even at the cost of a stiff service charge in the bargain. Despite the inflationary spiral racing to eight per cent levels, interest ... More

GENERAL INSURANCE
MV Act: Officers of PSU insurers want level field
OFFICERS of the public sector general insurance companies have expressed serious concern about the Government's lackadaisical attitude in amending the Motor Vehicles Act While reiterating their demand for a level-playing field with private ... More

GOVT BONDS
Securities rally; rupee firms up
MUMBAI: Bond prices rallied by over a rupee and a half on account of strong buying support from all quarters, dealers said. They said the price gain for G-Secs was the highest in about 10 months. Prices rose on back of improved ... More

Market stabilisation scheme turning costlier
CALL it an unintended outcome but one thing that the current round of inflation is doing is to jack up the Government's cost of "sterilisation" or mopping up of excess liquidity from the market. Under the Market Stabilisation Scheme (MSS) in ... More

`Borrowings well on schedule'
Both the Finance Ministry and Reserve Bank of India (RBI) officials have denied that the market stabilisation scheme (MSS) has led to a "crowding-out" of the Government's regular market borrowings programme. During 2004-05, the Government's ... More

CORPORATE BONDS
`Reintroduce RBI tax-free bonds'
THE Standing Committee on Finance has urged the Government to consider reintroduction of the 6.5 per cent tax-free RBI bonds. It has held that such bonds must be available in addition to the recently introduced Senior Citizens Savings Scheme. ... More


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Top Stories
Polaris, Indonesian bank settle row — Firm to pay $1 m; BAG to return software


Education cess on customs duty — Ministry rejects industry request for change in calculation method

Bengal Govt `offers' reins of IISCO to Jindals — Parent co SAIL says no plan to disinvest

Bosch plans Rs 1,000-cr investment — To build common rail systems thru Mico

S&P upgrades India currency rating outlook

Oil prices and the world economy

Inflation pressure hits States' fiscal reforms

Looking back
Aug. 15-Aug. 21
DCA to crack down on errant promoters, directors of NBFCs — Plans 'full-fledged inspection' of books

Nagging fears over `safety'

IA rules out immediate hike in fares — Launches co-branded card

GTB turnaround in 12-18 months: Narang

FCI bond market foray on hold

Sticky loan swapping under lens

Illiquid stocks turning active


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