The Hindu Business Line : Friday, November 29, 2002

Rupee loses; gilts volatile
Mumbai: THE rupee closed almost two paise weaker on Thursday at 48.2650/27 against the dollar, as compared to 48.2450/2550 on Wednesday in the forex market. "State-run banks were seen buying dollars in the market, thereby the rupee was seen ... More

Forex reserves: From penury to plenty
FEW WOULD dispute that the sizeable build-up of foreign exchange reserves has been the most significant macroeconomic development in the country over the last decade; something that has altered the very face of the economy and profoundly impacted ... More

A dollar famine in banks
MANY companies and exporters in the country are not able to raise dollar loans from Indian banks as the lenders have simply run out of their dollar funds. Demand for the dollar is swelling as borrowers are mopping them up through foreign ... More

CREDIT RATING

Moody's places IOC issuer on possible upgrade
SEVERAL significant recent positive changes in Indian Oil Corporation's credit profile has prompted international ratings agency Moody's to place IOC's `Ba2' long term issuer rating under review for possible upgrade. The rating is also being ... More

Tata Power rating under review for upgrade

PRIVATE BANKS

ICICI Bank launches ATM in Bengali
The bank today launched Bengali ATM transaction screens in the city, with the hope that it will be able to serve more customers who may prefer the language over English or Hindi. The Bengali screens will complement the bank's earlier efforts to ... More

PUBLIC SECTOR BANKS

Policy outline cause for PSB woes: Rangachary
THE Chairman of the Insurance Regulatory and Development Authority (IRDA), Mr N. Rangachary, is of the view that the vital problems currently being faced by the Indian banking industry are not fundamentally attributable to the public ownership, ... More

FINANCIAL INSTITUTIONS

IDBI ready with roadmap for universal bank
IDBI has said it is ready with the roadmap for transforming into an universal bank under which it would retain its 38-year-old brand equity by retaining its name as IDBI Bank Ltd. Consequently, the present IDBI Bank would have to operate under a ... More

NON-PERFORMING ASSETS

Madras HC stays action by Indian Bank
WHILE there are reports that lenders like banks have been able to take possession of secured assets mortgaged to them under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Ordinance, 2002, the Madras ... More

Allahabad Bank seizes property in Chennai
ALLAHABAD Bank has taken possession of a (residential) property worth about Rs 3 crore in the city, using the powers given by the Securitisation and Reconstruction of Financial Assets and Enforcement of Security (Second) Ordinance, 2002. An ... More

EVENTS

`Insurance cos not fully armed to gauge corporate liabilities'
THE speakers at the second day of the Insurance Summit, organised by the Confederation of Indian Industry (CII) here on Thursday, expressed serious doubts over the current competency levels of the Indian insurance industry to offer cover to the ... More

Insurers plug for cover against cyber-terror
THE insurance and reinsurance players have stressed on the immediate need to develop adequate capacity for offering cover to the Indian information technology industry against the cyber terrorism. Speaking at the second day of the Insurance ... More

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