Financial Daily from THE HINDU group of publications
Friday, August 23, 2002
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Financial Daily from THE HINDU group of publications Friday, August 23, 2002 |
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MONEY & BANKING FOREX Re strengthens; gilts stable Mumbai: THE rupee closed at another new high on Thursday at 48.5250/53 against the dollar as compared to Wednesday's close of 48.54/5425 in the forex market. State-run banks were seen capping the rupee at 48.5250 levels, preventing it from ... More HOUSING FINANCE GIC Housing not keen on securitisation GIC Housing Finance (GICHF) has not visited the deposit-raising market after 1999 leading to some loss in terms of "sustained presence'' at the marketplace which in turn is holding it back from foraying into housing loans securitisation ... More CONSUMER FINANCE Banks asked to be transparent on consumer loan ads BANKS have been asked to refrain from advertising the financing of consumer durable by distorting facts related to interest rates. In a circular issued to commercial banks, the RBI said that some banks were providing low or zero per cent ... More LIFE INSURANCE SBI Life declares revisionary bonus for 3 schemes SBI Life Insurance Company Ltd has announced a revisionary bonus on the sum assured for the savings-oriented insurance products issued by the company, `Sanjeevan, Young Sanjeevan and Scholar'. Revisionary bonus is a bonus added to policies in ... More
Allianz Bajaj aims at 1 lakh policies GENERAL INSURANCE GIC extends date for farmers' declarations GENERAL Insurance Corporation (GIC) has said that it has extended the cut-off date to receive declarations from banks for non-loanee farmers in Karnataka. According to a statement issued by GIC to all nodal banks in Karnataka, insurance cover ... More CREDIT RATING `A1' retained for Escorts CP ICRA has revised the long-term rating of Escorts Ltd from `LA+' to `LA'. The new rating indicates adequate safety. However, the relative degree of safety regarding the timely servicing of interest and principal has declined marginally since ... More FOREIGN DIRECT INVESTMENT 
DCB plans to hike FDI to 49 pcDEVELOPMENT Credit Bank Ltd (DCB) is considering the possibility of raising its foreign direct investment (FDI) component to 49 per cent from the current level of 37.50 per cent. The bank's board is engaged in discussions in this regard. ... More PRIVATE BANKS `Makharias clandestinely acquired stake in UWB' THE Investors' Grievances Forum (IGF) has alleged that the Makharia group, several companies of which are on the list of wilful defaulters, has "clandestinely" acquired about 17.5 per cent stake in the Satara-based United Western Bank (UWB). A ... More PUBLIC SECTOR BANKS Andhra Bank begins tax collection HYDERABAD: As a part of its attempts to augment non-fund based income streams, Andhra Bank has commenced a new service called collection of direct taxes. The collections include all direct taxes comprising corporate tax, estate duty, ... More FOREIGN BANKS EDS deal likely with ABN-Amro A.T. KEARNEY's parent Electronic Data Systems Corp (EDS) is in final contract discussions with ABN-Amro Bank N.V's wholesale banking unit for a 5-year IT-services deal that may well be worth in excess of $1.5 billion. EDS is expected to take ... More NON-PERFORMING ASSETS Classic City buys Hotel Holiday Inn IN execution of the decree obtained by IndusInd Bank Ltd in a recovery case against the Ram Laxman Hotels Pvt Ltd (RLHL), Hotel Holiday Inn, Pune, owned by RLHL, was sold at an auction to Classic City Investments Pvt Ltd (CCPIL) for Rs 29.8 ... More
Ordinance on NPAs repromulgated MERGERS & ACQUISITIONS IndusInd Bank-IEFL merger swap at 1:1 THE Hindujas-promoted IndusInd Bank Ltd (IBL) is merging one of its holding companies, IndusInd Enterprises & Finance Ltd (IEFL), with itself at a swap ratio of one equity share of IBL for every share of IEFL. The boards of directors of IBL and ... More INTERVIEW 
Max New York looking at `most admired' tagMR Anuroop Tony Singh, Managing Director and Chief Executive Officer, Max New York Life Insurance Co, has been steering the company's fortunes since it set up base in India in early 2001. Mr Singh shifted to insurance after a high-profile ... More BONUS ANNOUNCEMENTS Karnataka Bank bonus at 1:1 KARNATAKA Bank has announced the issue of fully-paid bonus shares in the ratio of one equity share for every one held besides offering one equity share of Rs 10 each at a price of Rs 25 (premium Rs 15) on a rights basis. Addressing shareholders ... More Comments & Letters to the Editor to: bleditor@thehindu.co.in Subscribe to: Business Line |
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Top Stories In Depth Gender Justice Simple Economics Small Investor Looking back Aug. 11-Aug. 17 Nabard to foray into consultancy services Lenders keep their fingers crossed on NPAs Bill PSU banks tapping staff for business FIs, banks to exchange data on loan defaulters |
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