Financial Daily from THE HINDU group of publications
Saturday, March 12, 2005
Financial Daily from THE HINDU group of publications Saturday, March 12, 2005 |
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MONEY & BANKING INSIGHT A cruel change in the name of `global practice' Mr Chidambaram is probably unaware that provident fund is the lone corpus on which retired old men and women live and if that gets pruned they will find living tortuous. More FOREX Rupee in range; securities down However, it ended at one-month high of 43.56 against the dollar, as against Thursday's close of 43.58. The rupee opened at 43.59/60 and traded in the range of between 43.56 and 43.59 the whole day, said dealers. The inflation for the week ... More SOFTWARE Opus Software ties up with SVC Financial OPUS Software Solutions on Friday announced its partnership with the Nasdaq-listed SVC Financial Services, US, to set up and process mobile-enabled card-based payment transactions. ECS, a 100 per cent subsidiary of Pune-based Opus Software ... More LIFE INSURANCE LIC plans to convert OFCDs MUMBAI: Alok Industries Ltd has informed the Bombay Stock Exchange that the Life Insurance Corporation of India has decided to convert the optionally fully convertible debentures (OFCDs) to the extent of 50 per cent of the total exposure, ... More GENERAL INSURANCE PSU insurers liquidate equity investments Insurers have opted for this route of bolstering their capital since the Government was not prepared to provide additional equity support to the companies. More PRIVATE BANKS ICICI Bank hikes stake in Prudential MF ICICI Bank Ltd is hiking its stake in Prudential ICICI Mutual Fund to 51 per cent to become the majority shareholder of the asset management company. The bank has informed the stock exchange that it has agreed in-principle to purchase an ... More
ING Vysya `health run' in Visakhapatnam INTEREST RATES Higher borrowings may put pressure on interest rates, says Purwar THE recent rise in US bond yields coupled with a higher than expected government borrowing in fiscal 2005-06 is likely to put some pressure on domestic interest rates, according to Mr A.K. Purwar, Chairman, State Bank of India. "While the ... More GOVT BONDS SEBI clarification on FII investments in Govt debt THE Securities and Exchange Board of India has clarified that foreign institutional investors' investments in the Government debt alone should be within the sub ceiling of $1.55 billion. The FII investments in corporate debt should be within ... More NON-PERFORMING ASSETS `NPAs in banks rise by Rs 48,784 cr in 7 years' DURING the last seven years, the non-performing assets of the banking system have increased from Rs 47,300 crore in March 1997 to Rs 96,084 crore in March 2004. This was stated by the General Secretary of the All-India Trade Union Congress, ... More MERGERS & ACQUISITIONS `M&As in banks will be order of the day' THE Deputy Governor of Reserve Bank of India, Mr V. Leeladhar, has said that mergers and acquisitions in the banking sector are going to be the order of the day. Addressing the members of the Kanara Chamber of Commerce and Industries (KCCI) ... More CO-OPERATIVES Chittoor co-op bank in crisis WITH accumulated losses to the tune of Rs 22.48 crore and erosion of its deposit base, the Chittoor Co-operative Town Bank (CCTB) is facing a financial crisis, the Minister for Cooperation, Mr K. Laxminarayana, told the Andhra Pradesh Legislative ... More RIGHTS ISSUE LVB rights issue COIMBATORE: Lakshmi Vilas Bank (LVB) has fixed a premium of Rs 45 per share for its rights issue to be offered in the ratio of 7:10 (seven shares for every ten held). The bank expects to raise Rs 44.57 crore through the rights issue. ... More OUTLOOK 
RBI chief sees lower inflationTHE Reserve Bank of India Governor, Dr Y.V. Reddy, on Friday said he expects inflation to be lower than the earlier estimate of 6.5 per cent by end of this fiscal. Dr Reddy said economic growth for the year would be higher than RBI's earlier ... More Comments & Letters to the Editor to: bleditor@thehindu.co.in Subscribe to: Business Line |
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Looking back Feb. 27-Mar. 5 Centre's market borrowings may rise 68 pc next fiscal Law soon to allow banks to issue pref shares Net worth floor for private banks fixed at Rs 300 cr Service tax exemption on forex payments to go Migration of high net worth individuals to foreign banks |
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