The Hindu Business Line : Friday, March 22, 2002

Rupee slips; securities rise
Mumbai: THE rupee closed on Thursday slightly weaker at 48.75/7550 to a dollar as compared to its previous close of 48.73/7350. Dealers said that the spot rupee was quiet and other than a slight weakening in forwards, forex markets were largely ... More

MANPOWER

Fresh VRS for bank staff ruled out -- Corpn Bank adopts cautious approach
THE banking industry would have to wait for another round of large-scale trimming down with no further voluntary retirement scheme (VRS) offer in sight. While the Government has rejected the idea of another round of industry-wide VRS, ... More

NBFCS

ATMs put NBFCs in a cul-de-sac
Plastic money is elbowing out NBFCs in the State that acted as a bridge between `the blade', who operated in the grey realm between legality and illegality, and the starched, stiff and punctilious banking sector. More

FINANCIAL MARKETS

Gold exchange key to boost market: Reddy
THE Deputy Governor of the Reserve Bank of India (RBI), Dr Y.V. Reddy, on Thursday advocated the setting up of a Gold Exchange to develop the precious metals market and integrate it with the financial markets. Speaking at a conference organised ... More

DEBT MARKET

Sharp fall in G-Sec trading volumes
THE bond markets appear to have run out of steam. Trading in March has been extremely lacklustre as bankers and bond dealers refrained from taking any active positions in the market. Trading volumes have fallen substantially. The average daily ... More

Near-term volatility seen in bond prices
THE RBI stance during the April Credit policy will be directed towards effecting a general reduction in lending rates, says ICICI Securities (I-Sec) in its debt markets update. The RBI is likely to effect a reduction in Cash Reserve Ratio (CRR) ... More

RBI & OTHER CENTRAL BANKS

Asset remittance cap raised for NRIs
NON-RESIDENT Indians and persons of Indian origin will now be able to remit up to $1,00,000 per calendar year out of assets in India acquired through inheritances or legacies without the approval from RBI. Earlier this limit was $30,000. An RBI ... More

PRIVATE BANKS

Offsite ATMs help IDBI Bank rope in more customers
With a cash dispenser available close by, people become customers of the bank, hence the increase in the client base. More

Gande takes over as GTB's MD

FINANCIAL INSTITUTIONS

Restraint against joining proceedings in US -- Dabhol lenders get HC reprieve
IN the legal tussle for home turf, Indian lenders to Enron's Dabhol Power Company (DPC) have wrested round one with the Mumbai High Court today restraining DPC, in an ad interim order, from joining bankruptcy proceedings in the US. A single ... More

GOVT BONDS

Clarification on relief bonds
THE Government has said that the ceiling of Rs 2 lakh per investor announced earlier in this year's Union Budget will not apply to relief bonds purchased before March 1, but are yet to mature. These bonds will continue to earn interest at the ... More

Cap on investment in Govt relief bonds off
THE Finance Minister, Mr Yashwant Sinha, offered some relief to the retiring employees in the private and public sector by announcing the lifting of the Rs 2 lakh investment ceiling in the Government of India Relief Bonds. This announcement was ... More

CORPORATE BONDS

ICICI Bank to raise Rs 1,000 cr
ICICI Bank Ltd proposes to raise Rs 1,000 crore through an unsecured bond issue, having a maturity of 10 years with market-related coupon rates. The bond issue is part of the bank's fund raising programme to meet the statutory requirement after ... More

CREDIT CARDS & DEBIT CARDS

New StanChart card for women
MUMBAI: Standard Chartered Bank on Thursday launched an international credit card exclusively designed for women. A bank release said that the `Diva' credit card was customised for the Indian woman who seeks to balance home and work, and ... More

TRADE & LABOUR UNIONS

BoB staff call for strike on March 30
The Bank has received a notice from a section of its employees, from four employee associations and unions, namely the All-India Bank of Baroda Officers Association, All-India Bank of Baroda Employees Federation, All-India Bank of Baroda ... More

UFBU calls for all-India strike on April 16
THE United Forum of Bank Unions (UFBU) has decided to call for a strike on April 16 to mark its protest against the Centre's policies on a host of issues. Mr C.H. Venkatachalam, Secretary of the All-India Bank Employees' Association (AIBEA) ... More

ALLIANCES & JOINT VENTURES

Exim Bank pact with Iranian bank

CO-OPERATIVES

Urban co-op banks get more time to meet SLR norms
URBAN co-operative banks (UCBs) have been given some more time to meet their SLR requirements. The Reserve Bank of India on Thursday relaxed the time frame for UCBs investments in Government securities and other approved securities. The RBI ... More

TRENDS

Pvt banks better PSBs in cost control
GOING by the statistics provided by the Indian Banks' Association, private sector banks seem to be doing better than the PSU banks in controlling establishment expenditure. Among the private banks, the new ones are on the top. When you talk ... More

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Defence levy: Tax or fine?

Restraint against joining proceedings in US -- Dabhol lenders get HC reprieve

She draws strength from Vivekananda

Pvt banks better PSBs in cost control

The CeBIT innovations: Products of the future

BSE deliberates on free-float index

In Depth
Inside Kashmir

Guide to derivatives

US-64

Looking back
Mar. 10-Mar. 16
Run on AP co-op bank

Prudential Bank stops premature payments -- RBI steps in to avert liquidity crisis

Oil refineries face hike in insurance premiums

No hurry to cut Bank Rate: Jalan