The Hindu Business Line : Thursday, March 13, 2003

SBI keen to exit from STCIL
The Managing Director of STCIL, Mr R.V. Joshi, confirmed SBI's view. "We know they want to exit... but there is no definite timeline", he said. More

FOREX

Rupee stable; gilts gain
Mumbai: THE rupee ended on Wednesday at 47.6550/6600 against the dollar as compared to Tuesday's close of 47.6450/6500 in the currency markets. There was good demand for the greenbacks from oil and engineering companies, said dealers adding ... More

INFORMATION TECHNOLOGY

Syndicate Bank ATM in Mangalore

HOUSING FINANCE

Dewan Housing cuts lending rates
DEWAN Housing Finance Corporation has brought down its interest rate on housing loans by 150 basis points, to 9.25 per cent (for five years) under its variable monthly scheme. The new rates are applicable with immediate effect. Some of the ... More

Home — a dream comes true
FOR 32-year-old Mr Nitin Pathak, an executive in an IT company, owning a house of his own would have been a dream had it not been for the easy availability of a housing loan at an affordable interest rate. Mr Nitin owns a compact two-bedroom ... More

CONSUMER FINANCE

PNB's retail loan schemes
PUNJAB National Bank (PNB) has been taking all efforts in meeting the varied aspirations of customers. It strives hard to improve the banking experience of the customers by creating every possible convenience as far as their financial needs are ... More

CREDIT RATING

Mahavir Spinning NCD gets `AA-'
THE rating agency, Crisil has awarded `AA-' rating to the Rs 80-crore non-convertible debenture (NCD) issue of the Ludhiana-based Vardhman group's Mahavir Spinning Mills Ltd. The rating reflected the strong market position of Mahavir Spinning ... More

DEBT MARKET

Primary dealers caught on wrong foot
PRIMARY Dealers (PDs) in government securities appear to have gotten into a bit of a mess trying to second-guess the bond market. According to market sources, many PDs are likely to see their portfolios eroded by at least 10 per cent by the end ... More

RBI & OTHER CENTRAL BANKS

Holiday for clearing house in Mumbai
MUMBAI: The Reserve Bank of India (RBI) has said that the clearing house in Mumbai will not function on March 14 as the Government of Maharashtra has declared holiday on account of Moharrum. The clearing house will now function ... More

PUBLIC SECTOR BANKS

UBI mite to PM's relief fund
NEW DELHI: Union Bank of India (UBI) has presented a cheque of Rs 2 crore to the Prime Minister's Relief Fund. The cheque was presented to the Prime Minister, Mr Atal Behari Vajpayee, by the bank's Chairman and Managing Director, Mr ... More

NON-PERFORMING ASSETS

Banking secrecy laws to be eased
LENDERS will soon have a bedfellow to share their disturbing secrets. Shedding its long-standing allergy towards allowing lenders to make credit information available more freely, the Government is finally set to relax banking secrecy laws to ... More

SHORT TERM INSTRUMENTS

Four-day repo auction today
MUMBAI: The Reserve Bank of India will hold four-day repo and reverse repo auctions on March 13. The change has been brought about consequent to the Government of Maharashtra declaring March 14 as holiday, in place of March 15, on ... More

EVENTS

`Banks must adopt diverse distribution channels'
ALTHOUGH the focus has by and large been on the formal sector so far, the informal sector has great opportunities for banks in the new economic regime, according to the Chairman of the Securities and Exchange Board of India (SEBI), Mr G.N. ... More

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