The Hindu Business Line : Tuesday, March 05, 2002

Financial planners' body puts premium on timely disclosure
THE Association of Financial Planners, which has come out with a code of professional conduct for its members, has put a premium on timely and written disclosure of material information. The newly-established association, which has just ... More

BUDGET

How positive is the Budget for banking?
Seen from the point of view of liability-side management, taxation or instruments to reduce NPAs, the banks have got a favourable deal, which led to the euphoria. But, experts point out that while the Budget has done whatever it could, the impact may not be all that positive. More

`A mixed bag'

FOREX

Re range-bound; gilts rally
MUMBAI: THE rupee closed steady on Monday at 48.6950/7050 to the dollar as compared to the previous close of 48.71. The rupee was fairly range-bound and strengthened to the day's high of 48.6850 on the back of good dollar supplies reflecting ... More

RBI allowed to buy, sell euro
THE Reserve Bank of India (RBI) can use the euro as an additional currency for market intervention. This follows a Government notification providing the apex bank the option of using the euro as an additional currency for operational purposes, ... More

LKP Forex to appoint franchisees

INSURANCE

ING chief coming to explore biz opportunities
THE chief of the ING group, a Dutch financial conglomerate, is visiting India from March 7 to March 11. Mr Kist, Chairman of the Executive Board of the ING group, is here to "explore the country's potential as a base for information technology ... More

NBFCS

RBI norms for grant of NBFC demand loans
IN a move aimed at tightening the prudential norms for non-banking financial companies (NBFCs), the Reserve Bank of India has laid down specific norms for NBFCs granting or intending to grant demand or call loans. Grant of demand or call loans ... More

LIFE INSURANCE

SBI Life unveils group policy
SBI Life on Monday inaugurated "Super Suraksha,'' a group insurance scheme for State Bank of India (SBI) account holders. The scheme has been distributed to around 100 farmers from Akluj, a village in Sholapur, besides term deposit holders at ... More

Tata AIG Life targets 1 lakh policies
HAVING sold over 26,000 policies during the current year, Tata AIG Life Insurance Company has set a distribution target of over one lakh policies for the next year. The next focus market of the company, which has set up an office in Kochi, ... More

PRIVATE BANKS

Federal Bank's ATM facility
THIRUVANANTHAPURAM: The Aluva-headquartered Federal Bank is setting up a third ATM facility near the personal banking branch in suburban Pattom here. Announcing this, a bank spokesman said that the facility, to be formally launched on ... More

PUBLIC SECTOR BANKS

Corpn Bank ties up with HelpAge
MANGALORE: Corporation Bank has tied up with HelpAge India, as a continuation of the bank's various initiatives to "contribute towards societal concerns" and also to continue playing its role as a "socially responsible ... More

GOVT BONDS

Clarification on Relief Bonds rate
NEW DELHI: Relief Bonds issued by the Government of earlier series which have not matured will continue to earn interest rate at the rate prevailing on the day they were purchased till they mature, the Finance Ministry has clarified. The ... More

RBI cuts repo rate to 6 per cent
THE Reserve Bank of India on Monday effectively reduced the repo rate by 50 basis points, signalling a further lowering of interest rates. The RBI has announced a one-day fixed rate repos in Government securities on March 5, at 6 per cent per ... More

Govt may allow tax-free long bonds for airport projects
In an effort to promote the setting up of greenfield airport projects, the Government is likely to consider favourably any proposal for issue of long-term tax-free bonds by the promoters of such projects. This has been indicated in the draft ... More

SHORT TERM INSTRUMENTS

NSE, FIMMDA to jointly issue reference rates
CO-BRANDING for popularity? That seems to be the driving force behind NSE's move to join money market players to standardise its call money reference rate — MIBOR/MIBID. The NSE has joined the Fixed Income Money Market and Derivative ... More

NEW PRODUCTS & SERVICES

New Jeevan Shree arrives
MUMBAI: LIC has launched the `New Jeevan Shree', a modified version of its popular plan Jeevan Shree, with effect from March 5. The plan is aimed at the upper segments of society including professionals, industrialists, consultants, ... More

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RBI norms for grant of NBFC demand loans

RBI cuts repo rate to 6 per cent

TRAI move to help `roaming' mobile users

Electrosteel Castings gains control of two Lanco cos

Coffee Board seeks to extend interest subsidy

No mandir or masjid is worth this price

In Depth
Inside Kashmir

Guide to derivatives

US-64

Looking back
Feb. 24-Mar. 2
Forex reserves cross $50-b mark

Income on deep discount bonds to be taxed yearly

Budget to decide the next move

HUDCO plans second tranche of Gujarat bonds

Farmer group set to take SBI Life cover

Big-ticket recoveries elude Indian Bank

Banks to cut lending, deposit rates

Sinha for linking interest rates to inflation