The Hindu Business Line : Sunday, August 31, 2003

Pension reforms: Flexibility essential
The proposed pension plan has run into controversy, though the criticisms levelled against it seem misplaced. However, the Government needs to enhance the plan's credibility to ensure its widespread acceptance. More

FOREX

Forex reserves up by $148 m
THE foreign exchange reserves of the country have increased by $148 million to $85.583 billion for the week ended August 22. Most of the inflow could be by way of FII investment in the equity markets, said forex market dealers. In the previous ... More

INFORMATION TECHNOLOGY

UCO Bank plans Rs 200-cr technology upgradation
UCO Bank has earmarked Rs 200-crore for various initiatives, with emphasis on technology upgradation, to be taken up during the next couple of years, the Chairman and Managing Director of the bank, Mr V.P. Shetty, said here on ... More

HOUSING FINANCE

HDFC: Housed in strong fundamentals
THE fixed deposit programme of Housing Development Finance Corporation (HDFC) is open for investment. The company's fundamentals are strong. Also, the depositors have an added incentive, as the interest income on ... More

Kotak Mahindra Bank cuts home loan rates
Kotak Mahindra Bank has reduced its home loan rates by 25 basis points. With this rate cut, a five-year home loan is now pegged at 7.75 per cent on a monthly reducing balance. BL Research ... More

LIFE INSURANCE

INSURANCE CORNER
LIC's Komal Jeevan
LIC's Komal Jeevan is a child money-back policy taken on the life of the child. The policy pays a certain percentage of the sum assured in four regular instalments after the child becomes a major. Premium payments cease ... More

Aviva Life Insurance policy for SHGs

PRIVATE BANKS

RBI permits 4 pvt banks to conduct Govt transactions
THE Reserve Bank of India has permitted four private banks, namely ICICI Bank, HDFC Bank, IDBI Bank and UTI Bank to conduct all types of Central Government transactions as its agents with effect from October 1, 2003. The banks have been ... More

`Anywhere Banking' from Federal Bank

PUBLIC SECTOR BANKS

SBI staff asked to keep tab on transactions of `terrorist groups'
THE State Bank of India (SBI) has asked its branch managers to keep tabs on the transactions involving 23 "terrorist organisations" identified and listed in the schedule to the Prevention of Terrorism Ordinance, 2001. In a circular, the bank ... More

IOB to maintain consistent portfolio yield
INDIAN Overseas Bank proposes to maintain a consistent portfolio yield by suitably adjusting its portfolio mix through active churning without enhancing the risk involved. The bank's gross investment portfolio, which stood at over Rs 18,000 ... More

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