Financial Daily from THE HINDU group of publications
Saturday, December 21, 2002
Forex Rates Dec. 20 (4.30 p.m. IST)
1 PoundRs 76.78
1 EuroRs 49.12
1 USDRs 47.93
100 YenRs 39.65
1 Sing $Rs 27.47

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AWARDS & HONOURS


AP Co-op bank bags `profitability' award
HYDERABAD: The Andhra Pradesh State Cooperative Bank has been selected the best in the category of `Profitability' for the year 2001-02 by the National Federation of State Co-op Banks Ltd, Mumbai, which evaluates the performance of the ... More

FOREX


Rupee touches 47.97
Mumbai: THE rupee closed seven paise stronger at a year's high of 48.0050/0150 against the dollar on Friday. During the day, it breached the psychological barrier of 48 to touch 47.9750 level against the greenback. The rupee touched comparable ... More

INSURANCE


Excellent Insurance awaits direct broker licence
EXCELLENT Insurance Broking Services Ltd (EIBSL), the Hyderabad-based firm formerly known as Expert Healthcare Management Services Ltd, is planning to become direct insurance broker. The company has been engaged in insurance consultancy, ... More

AGRICULTURAL INSTITUTIONS


Banks shy away from Nabard refinance
TWO top Government banks have virtually stopped utilising refinance facilities offered by the National Bank for Agriculture and Rural Development (Nabard) and others could be joining to form a crowd. SBI has said no to Nabard refinancing for ... More

Nabard outlay for Kerala put at Rs 11,603 cr
THE Kerala State credit plan for 2003-04, prepared by the National Bank for Agriculture and Rural Development (Nabard), envisages an outlay of Rs 11,603 crore. The outlay is the aggregate of potential-linked credit plans for 14 districts drawn ... More

HOUSING FINANCE


Ernakulam home loan fair gets under way
ERNAKULAM Home Loan Fair 2002, two-day exhibition of housing and housing loans organised by the Corporation Bank, has commenced here on Friday by showcasing an array of retail loan products. As many as 25 stalls have been set up in the venue by ... More

GENERAL INSURANCE


Roads could be full of unsafe vehicles
READ this if you own a bike, scooter, car or any other motorised vehicle that you take on the roads. Apart from your licence, RC book, and `pollution under control' certificate, an important document that you are supposed to carry and produce ... More

CREDIT RATING


Tata Finance PTC issue gets `AAA'
MUMBAI: Tata Finance Ltd's Rs 47.78-crore senior-class `A' pass-through certificates (PTCs) issue has been assigned the `AAA' rating by Crisil. The rating indicates the highest degree of certainty regarding the timely payment of the ... More

GOVT BONDS


States told to go easy on bond guarantees
THE Reserve Bank of India is understood to have advised State Governments to "go easy" on guaranteeing bond issues of their subordinate entities. Simultaneously, the central bank has also informally told banks that it will pay the interest and ... More

CORPORATE BONDS


KPFC bond issue closed
KERALA Power Finance Corporation Ltd announced the closure of its bond issue, which aggregated a total of Rs 200 crore. The issue was for Rs 150 crore with a green shoe option of Rs 50 crore, the Kerala Minister for Electricity, Mr Kadavoor ... More

NON-PERFORMING ASSETS


Vijaya Bank `tom-tom' to get back dues
While most of them served the notice on loan defaulters, waited for the mandatory period of 60 days to issue a public notice, wherever they received no response from the defaulters or notified about taking possession of the property, Vijaya Bank ... More

IPOS


Punjab & Sind Bank likely to go for IPO
KEEPING with the current trend among public sector banks, Punjab and Sind Bank (PSB) is also considering the option of queuing up in front of the initial public offer (IPO) window. "We do have a mind of going for an IPO. We would initiate ... More
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States told to go easy on bond guarantees

Rupee touches 47.97

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MRF net doubles on cost cutting; to pay Rs 14 final

Banks shy away from Nabard refinance

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Dec. 8-Dec. 14
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RBI asks lenders to take ownership rights of defaulting corporates

Insurers told to show `proof' of high losses in motor cover


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