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Wednesday, April 13, 2005

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MONEY & BANKING

FOREX


Rupee edges lower; gilts listless
MUMBAI: The rupee market was dull on Tuesday, with the spot trading against the dollar in a narrow range between Rs 43.6950 and Rs 43.7050, in the absence of import-export booking, said dealers. The rupee ended at 43.72/73r, marginally ... More

TAXATION


ICAI wants cash transaction tax move dropped
THE Institute of Chartered Accountants of India (ICAI) has urged the Government to withdraw its proposal to levy a banking cash transaction tax, stating that the proposed measure may not give the desired result of checking tax evasion. The ... More

HOUSING FINANCE


Home loans set to turn costlier
HOME loans may become dearer to borrowers in the near future. Banks and financial institutions are understood to be considering a 25-50 basis points hike in housing loan rates shortly, given the steady hardening in domestic bond yields. The ... More

LIFE INSURANCE


ICICI Pru premium grows 77 per cent
ICICI Prudential has grown to acquire a market share of seven per cent by registering a growth of 77 per cent. The company has declared an annualised premium of Rs 1,256 crore for 2004-05 against Rs 707 crore in the previous fiscal. It had ... More

ICICI Lombard, Maharashtra Govt pact to insure farmers
ICICI Lombard General Insurance Company has in association with the Government of Maharashtra insured farmers aggregating nearly Rs 1 crore under the personal accident insurance policy. The State Government has sanctioned a total of Rs 6.48 crore ... More

GENERAL INSURANCE


New Bajaj Allianz schemes for travellers to Asia
BAJAJ Allianz General Insurance has introduced two new, low-cost travel insurance plans for travellers to Asian countries. The plans — Travel Asia Flair and Travel Asia Supreme — are an extension of its basic plan Travel Companion. ... More

DEBT MARKET


Bonds clearly moving into `buy' territory
One of the major triggers for the sharp fall in bond prices was the auction cut-off yield of 6.85 per cent for 2012 paper. More

NON-PERFORMING ASSETS


RBI draft guidelines — Credit risk on banks purchasing NPAs
BANKS will be allowed to buy or sell non-performing financial assets from or to other banks only on a `without recourse' basis, according to the Reserve Bank of India's draft guidelines on the purchase or sale of non-performing assets (NPAs). ... More

ARCIL bad loan buys cross Rs 15,000 crore
The acquisition price offered by ARCIL works out to 24 per cent of total dues. More

OBC recovers part of Global Trust NPAs
ORIENTAL Bank of Commerce Ltd (OBC) has made cash recoveries of Rs 200 crore from the bad loans of the erstwhile Global Trust Bank (GTB). OBC had inherited bad loans worth Rs 1,225 crore from its amalgamation with GTB last year. The bank has ... More

CO-OPERATIVES


Rural co-ops upbeat over `fiat' to Vaidyanathan panel
THE long-lending co-operative credit institutions are poised to win a major battle for survival, with the Centre having reportedly given in to their demand for suitably amending the terms of reference (TOR) of the Vaidyanathan Task Force on Rural ... More


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Top Stories
Tata Steel plans capacity expansion at units in China


VAT confusion strikes coconut oil prices

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Govt may allow 20 pc FDI in FM radio broadcasting

OBC recovers part of Global Trust NPAs

Indian cos going slow on promoting Valdecoxib

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In Focus

BHEL Disinvestment
China's revaluation
Dabhol power regenerated
Tracking the rains
Sethusamudram Canal Project
India Inc's overseas acquisition
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In Depth

Gender Justice
Simple Economics
Tax Talk
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Looking back
Apr. 3-Apr. 9
Forex reserves down $1.22 b at $140.9 b

The RBI Governor's policy options

Explosive growth in micro-loan disbursements

Banks losing interest in long-dated G-secs

April 28 deadline set for pension panel report

PF subscribers face housing loan woes


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