Financial Daily from THE HINDU group of publications
Wednesday, April 02, 2003
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Financial Daily from THE HINDU group of publications Wednesday, April 02, 2003 |
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MONEY & BANKING FINANCIAL SERVICES FOREX RBI lifts cap on forward contracts THE Reserve Bank of India (RBI) has allowed large corporates to book forward contracts in excess of $100 million, to enable them to "effectively and actively" manage risks arising out of genuine foreign currency exposures relating to ... More
Euro may beat weak $ in exporter invoicing
Returns must support forex debt servicing LIFE INSURANCE Life insurance foray — Principal to partner Vijaya Bank, PNB THE US-based Principal Financial Group will foray into local life insurance business partnering state-owned Vijaya Bank and Punjab National Bank, top banking sources said. "We are awaiting clearances from the Reserve Bank of India for such a ... More
LIC eases settlement norms
Max New York tie-up with Futuristic GENERAL INSURANCE Insurers to revive pooling — Reinsurance becoming very costly Efforts were under way to include the private insurers as well in the arrangement. This was because some of the private sector insurers had also not been successful in finalising treaties with the reinsurance companies or with their overseas parents . More CREDIT RATING Fitch assigns AAA to Hindalco NCDs HINDALCO Industries Ltd's Rs 500-crore non-convertible debenture programme has been assigned a rating of AAA (ind) by Fitch Ratings India. It has also assigned a F1+ (ind) rating to Hindalco's Rs 250-crore short-term debt/commercial paper ... More DEBT MARKET PDs, foreign banks prop up gilts Mumbai: IN spite of the absence of several banks from the money markets, G-sec prices rallied today by 30-100 paise. The forex markets were closed on account of the year closing for banks. "Most primary dealers (PDs) and foreign banks were ... More PUBLIC SECTOR BANKS Andhra Bank adds another ATM in Hyderabad ANDHRA Bank has opened an automated teller machine at the Directorate of Medical & Health Services located at Kendriya Sadan in Sultan Bazar here, taking its total count of ATMs in twin cities of Hyderabad and Secunderabad to 80 and its ... More INTEREST RATES Canara Bank cuts farm loan rates BANGALORE: Canara Bank has fixed the lending rates for agriculture and small-scale sectors at two per cent above the prime lending rate, a bank release said here on Tuesday. Currently, the PLR for the bank is 11 per cent. The new ... More
NON-PERFORMING ASSETS IDBI takes over resort to recover dues INDUSTRIAL Development Bank of India (IDBI) has taken over a 40-cottage resort situated at Mangaon and belonging to Suman Motels Ltd (SML) under the Securitisation Act to recover about Rs 25 crore, including nearly Rs 14 crore of principal, of ... More RESTRUCTURING RBI okays IndusInd reverse merger — Suggests change in swap ratio THE Reserve Bank of India has suggested a swap ratio of 5:6 for the reverse merger of the promoter finance company, IndusInd Enterprises & Finance Ltd (IEFL) into IndusInd Bank after rejecting the proposed 1:1 ratio. For every six shares of IEFL, ... More PEOPLE Comments & Letters to the Editor to: bleditor@thehindu.co.in Subscribe to: Business Line |
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Top Stories In Focus Run-up to Budget Kelkar Report Bottled water: How safe is it? Telecom Competition Oil PSUs: Disinvestment dilemma Housing Fin. rate war: Bonanza for consumers! NPAs in Banking In Depth Simple Economics Consumer Notes Tax Talk The Brahmananda collections NRIs & Investment Avenues Corporate Governance Gold: Still the winner? Cars: Always a beauty Books and Reviews Looking back Mar. 23-Mar. 29 Banks given more leeway to finance divestment Banks refuse refinance support to State PSUs IRDA may get annuity pie of pensions markets Clean up co-op banks to tap `project loans' again Bye bye to `Ashoka Pillar' notes |
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