The Hindu Business Line : Saturday, February 16, 2002

`Solicitor's view not subject to litigation'
IN a case pertaining to the removal of a person as a director on the basis of an opinion given by the solicitor, the Madras High Court has held that the opinion of the solicitor was only a view expressed by him. Dismissing appeals against the ... More

FOREX

Rupee gains; gilts decline
MUMBAI: THE rupee ended marginally stronger on Friday at 48.66/67 against the dollar as compared to the previous close of 48.6850/6950 in a fairly lacklustre forex market. The rupee opened at 48.6850/6950 and touched an intra-day low of 48.7250 ... More

INSURANCE

MetLife sees market in J&K Bank customers
METLIFE India hopes to make use of the 2.2 million customers of Jammu & Kashmir Bank, which is one of the principal shareholders of the insurance company. MetLife India began selling insurance products on January 4, and has so far sold around ... More

OM Kotak to offer unit-linked scheme
OM Kotak Mahindra Life Insurance Company, the insurance joint venture between the UK-based Old Mutual Plc and Kotak Mahindra Finance Ltd, is currently finalising details of a new individual product called the Kotak Unit-Linked Product, an ... More

Geojit arm ties up with MetLife
GEOJIT Infofin Technologies, a wholly-owned subsidiary of the Kochi based Geojit Securities, has tied up with MetLife India Insurance Company Ltd for the marketing and distribution of insurance products across the country. The initial launch ... More

MANPOWER

2 Corpn Bank unions oppose VRS demand
IN a new twist to the ongoing voluntary retirement scheme saga in Corporation Bank, the Corporation Bank Employees' Union (CBEU) and the Corporation Bank Officers' Association (CBOA) have stated that they are staunchly opposed to the idea of ... More

Stir against BoB's downsizing plan
KOLKATA: A number of employees of Bank of Baroda under the banners of four unions, staged a day-long dharna before the bank's zonal office on Friday to protest the management's plan to downsize and take other harsh measures at the ... More

NBFCS

Peerless hopes to complete revamp by August
THE Kolkata-based Peerless General Finance & Investment Company Ltd, residual non-banking company, expects to complete its revamp exercise in another six months. The General Manager, Marketing, Mr M. Mallik, told presspersons here on Friday ... More

HOUSING FINANCE

Housing finance in focus
KOLKATA: Allahabad Bank will observe housing finance month from February 15 to March 15 to step up housing finance loans through its retail boutiques. The bank has also announced attractive schemes for this purpose. Thus, the rate of ... More

CREDIT RATING

Hindustan Organic NCD downgraded
MUMBAI: Crisil has downgraded the ratings assigned to Hindustan Organic Chemical Ltd's Rs 100 crore and Rs 50 crore non-convertible debenture issues to `C' from `D' previously. The rating assigned to the company's fixed deposit ... More

PRIVATE BANKS

HDFC Bank's special pricing for old clients
HDFC Bank is "systematically introducing relationship pricing" under which it will offer its existing customers lower pricing on (some) products. The Managing Director, Mr Aditya Puri, told presspersons here on Friday that the bank was actually ... More

PUBLIC SECTOR BANKS

Andhra Bank personal banking

SBI officers' meet today

FOREIGN BANKS

Bank of Bahrain salary payment
HYDERABAD: Bank and Bahrain and Kuwait BSE had announced that the Government of Andhra Pradesh has notified the bank for drawing salary payments and other allowances of Government employees.In a release, the bank said the scheme was ... More

FINANCIAL INSTITUTIONS

IDBI rethink on insurance plans
IDBI has deferred its entry into the general insurance sector. Its focus now will be on restructuring itself as a prelude to its transition into a universal bank. IDBI had initially proposed to go through with the insurance venture with the ... More

GOVT BONDS

Retail trading yet to pick up in gilts
AS an individual, your chances of investing in highly secured government securities appear to be distant going by the response of gilt dealers. Recently, the RBI has allowed investment by individuals in gilts through non-competitive bidding. ... More

Technical hitches hit online gilts trading
PANDEMONIUM prevailed in the securities market on Friday as bond dealers tried desperately to adapt to the newly started Negotiated Dealing System (NDS). According to dealers, the NDS was not fully compatible with the system in banks. The RBI ... More

REGULATORY BODIES & RULINGS

DRT vacates injunction order on SHCIL properties -- IndusInd evidence `confusing'
THE Debt Recovery Tribunal (DRT) has vacated the order of injunction and appointment of receiver in respect of the properties of the Stock Holding Corporation of India Ltd (SHCIL), which is currently battling with IndusInd Bank in a case ... More

CO-OPERATIVES

RBI assurance to Rupee bank depositors
THE Reserve Bank of India has assured the depositors of the Rupee Co-operative Bank that their deposits up to Rs 1 lakh are fully insured under the insurance cover of the Deposit Insurance and Credit Guarantee Corporation. Recently RBI directed ... More

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