The Hindu Business Line : Wednesday, June 29, 2005

Banks to assist coconut scheme in Kerala
THE commercial banks in Kerala have decided to extend assistance at liberal terms and conditions to the Rs 1,928-crore coconut rejuvenation scheme proposed by the State Agriculture Department. The State Level Bankers' Committee (SLBC) meeting, ... More

FINANCIAL SERVICES

Kolkata broker surrenders licence
KOLKATA-based Inspire Ensurance Broking Solutions Pvt Ltd, a direct insurance broker, has voluntarily approached the Insurance Regulatory and Development Authority (IRDA) to surrender the insurance broking licence granted to it. According to ... More

INSIGHT

We're near Fed's `neutral' rate?
THE mystery continues. The yield on 10-year US Treasuries dropped well below 4 per cent last week. The fall was explained as being the result of the run-up in crude prices (which might in due course slow the economy), modest business activity ... More

FOREX

Rupee tad weaker; bonds recover
MUMBAI: The rupee fell marginally on Tuesday, following increased dollar demand in the forex market. Traders said there was dollar buying on behalf of oil companies to meet their import requirements. The fall in the Indian currency was also ... More

FINANCIAL PERFORMANCE

SREI Infrastructure net up 38 pc at Rs 28.3 crore
SREI Infrastructure Finance Ltd has recorded a 38-per cent increase in profit after tax at Rs 28.30 crore for the year ended March 2005, up from Rs 20.44 crore in the previous year. Mr Hemant Kanoria, Vice-Chairman and Managing Director, said ... More

HOUSING FINANCE

Realty developers see no impact of home loan rates on buying decisions
Marginally costlier home loans may have come as a slight disappointment to aspiring home owners in the country, but the real estate industry is not losing any sleep over it. Leading real estate developers feel that the recent hike in home loan ... More

Oriental Bank lowers home loan rates
IN a sharp contrast to the apprehensions on increase in housing loan interest rates, the Oriental Bank of Commerce (OBC) has decided to reduce housing finance rates effective July 1. The move was aimed at making its housing loan schemes more ... More

GENERAL INSURANCE

New India moots proposal for TN fishermen
NEW India Assurance Co Ltd has mooted a proposal to the Tamil Nadu Government for providing `Group Insurance Cover' for the fishermen in the State. Disclosing this to Business Line, the Regional Manager, Mr V. Dhanaraj, said the company ... More

RBI & OTHER CENTRAL BANKS

Rakesh Mohan to move to RBI
THE Secretary, Department of Economic Affairs (DEA) in the Union Finance Ministry, Mr Rakesh Mohan, is being shifted to the Reserve Bank of India as Deputy Governor. He is likely to be relieved from his current post by the end of this month. Mr ... More

ADB's extended tsunami mission from July 1
THE Asian Development Bank (ADB) team, which has just completed a field trip to the tsunami-hit areas in Tamil Nadu and Kerala, is in the process of approving about $20 million for retroactive expenditures. The bank expects an extended mission ... More

RBI holiday on July 1
THIRUVANANTHAPURAM: All offices of the Reserve Bank of India will remain closed on July 1 for public transactions, an official spokesman said here. This is because June 30 happens to be the last working day of the accounting year ... More

PUBLIC SECTOR BANKS

Syndicate Bank keen on more fee-based income — Second public issue to open on July 7
SYNDICATE Bank hopes to increase its fee-based income in the coming fiscal through tie-ups for insurance vending and services like cash management, said Mr Kantha Kumar, Chairman and Managing Director. Mr Kumar was speaking at the sidelines of ... More

CREDIT CARDS & DEBIT CARDS

RBI insists on transparency in credit card rates
CREDIT card issuers must take into consideration the fact that a customer may hold a number of credit cards while fixing maximum credit limits, according to the draft guidelines on credit cards issued today by the Reserve Bank of India. The ... More

CO-OPERATIVES

`Vaidyanathan panel proposals will hurt co-operative banks'
THE National Federation of State Co-operative Banks (NAFSCOB) has objected to some of the recommendations of the Vaidyanathan Committee, set up to study the problems of the co-operative banks, saying that it will have some adverse impact on the ... More

Co-op bank body hails AP MoU with RBI
THE Andhra Pradesh Urban and Town Co-operative Banks' Association has cautiously welcomed the MoU signed on Monday between the Andhra Pradesh Government and the Reserve Bank of India (RBI) to strengthen the urban co-operative banks in the ... More

Now, RBI signs pact to beef up Gujarat urban co-ops
THE Reserve Bank of India (RBI) today signed a Memorandum of Understanding (MoU) with the State of Gujarat to strengthen the latter's urban co-operative banks. This is close on the heels of its signing a similar pact with Andhra Pradesh on ... More

PEOPLE

IDFC's new treasury chief
MR V. RAVIKUMAR has assumed charge as senior director of the Infrastructure Development Finance Company Limited. Mr Ravikumar will head the treasury operations, includingresource mobilisation and investments. IDFC is focussed wholly on the ... More

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