The Hindu Business Line : Friday, March 08, 2002

Re sheds 5 paise; gilts weak
Mumbai: THE rupee closed around 5 paise weaker on Thursday at 48.73/74 per dollar as against the previous level of 48.68/69 in an otherwise lacklustre forex market. It opened the day at 48.70/71. According to forex dealers, the currency was ... More

HOUSING FINANCE

IDBI Bank drops home loan rates
IDBI Bank on Thursday announced a cut in some of its home loan lending rates, with a 50-basis points drop in rates on the longer loan durations (tenors), according to a news release from the bank. The bank's lending rate for its five-year loans ... More

HUDCO's equity cap doubled
THE Government has doubled the authorised capital of Housing and Urban Development Corp Ltd (HUDCO) to Rs 2,500 crore to enable the lending organisation to enhance its capital adequacy ratio, according to Mr Ananth Kumar, Minister for Urban ... More

GENERAL INSURANCE

Headless PSU insurers falter
WITH the Government yet to finalise appointments, three of the four public sector insurance companies remain headless. Currently, only United India Insurance Company Ltd (UIICL) has a full-time chairman. Oriental Insurance Company Ltd (OICL) ... More

CREDIT RATING

Moody's reaffirms `Ba2' for Reliance Industries
INTERNATIONAL rating service Moody's has confirmed the `senior unsecured Ba2 debt ratings' for Reliance Industries Ltd. The rating, which comes after RIL's proposed merger with Reliance Petroleum Ltd, reflects a moderate deterioration in RIL's ... More

SECURITISATION

Ashok Leyland Fin closes Rs 104-cr securitisation deal
ASHOK Leyland Finance has securitised receivables worth Rs 104 crore — the largest single securitisation deal ever in the country. With this, the company has raised Rs 550 crore this year through securitisation deals. "We'll do another Rs ... More

ICICI debt obligation fund
MUMBAI: ICICI is securitising about Rs 500-crore of its loan assets in the form of mutual fund units. The novel structured finance product -- Indian Corporate Collateralised Debt Obligation Fund (ICCDO) -- is being offered under two ... More

IPOS

PNB maiden issue at Rs 21 premium
PUNJAB National Bank will hit the capital market with its maiden public issue of 5,30,60,700 equity shares of Rs 10 each for cash at a premium of Rs 21 per share aggregating to Rs 164.49 crore, to augment its long-term resources and capital base ... More

CO-OPERATIVES

Co-op banks told to form risk panels on gilts
CO-OPERATIVE banks have been asked to set up risk evaluation committees for trading in Government securities. According to the Chief General Manager, Internal Debt Management Cell, Reserve Bank of India, Ms Usha Thorat, such committees, which ... More

NEW PRODUCTS & SERVICES

HSBC launches flexible service
HSBC on Thursday launched the `FlexiFinance,' service which will offer easy access to a personal credit line and flexible repayment plans. Through this service, the bank's personal banking customers will now be able to avail themselves of an ... More

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100 pc FDI in auto sector under automatic route -- No minimum investment norms

PNB maiden issue at Rs 21 premium

After dividend rush come cancellations

Not all gloom & doom in India Inc

Budget 2002-03: Nurtures middle-men, not farmers

`Newsprint sector in for a shake-out'

In Depth
Inside Kashmir

Guide to derivatives

US-64

Looking back
Feb. 24-Mar. 2
Forex reserves cross $50-b mark

Income on deep discount bonds to be taxed yearly

Budget to decide the next move

HUDCO plans second tranche of Gujarat bonds

Farmer group set to take SBI Life cover

Big-ticket recoveries elude Indian Bank

Banks to cut lending, deposit rates

Sinha for linking interest rates to inflation