The Hindu Business Line : Saturday, March 02, 2002

UTI Bank okays preferential issue
UTI Bank has decided to issue equity shares on a preferential basis to Life Insurance Corporation, General Insurance Corporation as well as to three subsidiaries of GIC at Rs 39.04 per share of a face value of Rs 10. The Board of Directors of ... More

BUDGET

IFCI sees lower lending rates
NEW DELHI: IFCI Ltd has said that there is likely to be a downward revision of lending rates on account of the measures on the interest rate structure, announced in the Budget. "Lending rates should come down in the future. It is a good ... More

`No major break for financial services'
FOR all the budgetary proposals on securitisation, the Government will still have to prove itself through implementation when it comes to the financial services sector, it is felt. While the Finance Minister had mentioned securitisation at ... More

`Goodies all the way'
THE Executive Director, ICICI, Ms Kalpana Morparia, told Business Line that the banking sector had received only good news from the Budget. "I've got goodies all over," she said, pointing out that the Budget had helped the ... More

Gulf NRIs hail Budget move on convertibility
NRIs in the UAE have welcomed some of the proposals in the Budget 2002-03, including full convertibility of NRI deposits and freedom to repatriate earnings such as dividend, rent and interest in foreign currency. The move will encourage NRIs to ... More

HOUSING FINANCE

Andhra Bank cuts home loan rates
HYDERABAD: Andhra Bank has announced a reduction in interest rates on housing loans, besides a series of special features to be effective from Friday. It has created two categories. For loans up to Rs 5 lakh, the interest would be ... More

GENERAL INSURANCE

Pension sector under IRDA purview
THE insurance sector regulator, Insurance Regulatory Development Authority (IRDA), is set to be designated as the new regulator for the pension sector also. Apart from the proposal to mandate IRDA, the Finance Ministry will also take up for ... More

CREDIT RATING

SAIL programme downgraded

FOREIGN DIRECT INVESTMENT

Govt clarification on FII investment limit soon
THE Government will soon make a clear distinction of the investment limits for foreign institutional investors (FIIs) investment in domestic companies aside of the foreign direct investment limit. There has been a lack of clarity in this in ... More

INTEREST RATES

Sinha for linking interest rates to inflation
THE Finance Minister, Mr Yashwant Sinha, today made a case for effective linkages between the interest rates and inflation levels in line with the prevailing practice in other economies of the world. Such a mechanism, he held, would ensure that ... More

CO-OPERATIVES

`Token' start to recap of co-op credit bodies
IT'S a really modest beginning on recapitalisation of the co-operative credit institutions. The Centre has allocated "a token" Rs 100 crore to kick-start the process during the ensuing fiscal. More Central funds would be made available after ... More

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