The Hindu Business Line : Wednesday, February 19, 2003

Tata Fin seeks shareholder nod for pvt placement
THE board of Tata Finance Ltd (TFL) has sought the approval of its shareholders for issuing cumulative redeemable preference shares of up to Rs 200 crore on a private placement basis. In a notice to the Bombay Stock Exchange, the company has also ... More

FOREX

Re up 6 paise; gilts weak
Mumbai: THE rupee ended almost 6 paise stronger on Tuesday at 47.7050/7150 against the dollar as compared to Monday's close of 47.7600/7700 in the local currency markets. The supplies of dollar were steady in spite of the markets being closed ... More

CONSUMER FINANCE

SBI-Maruti Fin scheme at 500 centres shortly
THE Maruti-SBI Finance scheme, now available in 37 centres in the country, will eventually be offered at 500 centres, according to Mr P.N. Venkatachalam, Managing Director and Group Executive, State Bank of India. Mr Venkatachalam, who was here ... More

LIFE INSURANCE

ICICI Bank `tailors' cover for cardholders
ICICI Bank, the second largest bank in the country, has decided to offer exclusively designed life insurance products to its high net-worth credit cardholders across the country. The product is from the ICICI Prudential Life Insurance ... More

ICICI PruLife premiums via Visa cards
ICICI Prudential Life Insurance Companyhas announced that it has tied up with Visa, the leading payment brand, to accelerate the payment process of insurance premiums. In a press release here on Tuesday, ICICI Prudential said its policyholders ... More

GENERAL INSURANCE

Online marine policy from Bajaj Allianz
BAJAJ Allianz General Insurance Co Ltd, a joint venture between Bajaj Auto Ltd and the Allianz Group of Germany, has made settlements worth Rs 75 crore and numbering 78,000 cases for the nine months ended December 31, 2002. Majority of the ... More

FINANCIAL POLICY

Bush's tax package no answer: Greenspan
ALAN Greenspan, the Chairman of the US Federal Reserve, is as Republican as they come. He was an early follower of Ayn Rand, the libertarian novelist and a sort of philosopher — lodestone for those espousing individualism and the virtues of ... More

PUBLIC SECTOR BANKS

Petronet gets Rs 60 cr from SBM
The pipeline will transport motor spirit, superior kerosene, high-speed diesel, aviation turbine fuel and naphtha, catering to the consumption zones of Karnataka and Andhra Pradesh. More

INTEREST RATES

Karnataka Bank reduces rates on deposits
KARNATAKA Bank has reduced its interest rates for domestic and NRE rupee term deposits with effect from February 15. As per the revised rate structure, the interest will remain at 5 per cent on domestic term deposits for a period of 7 to 14 ... More

GOVT BONDS

Banks place riders on bonds-switch proposal
PUBLIC sector banks have imposed preconditions on the Government's proposal to switch high-coupon securities with low coupon bonds. Banking sources said here, "We are not opposed to the Government's proposal for swapping of bonds and shrinking ... More

NON-PERFORMING ASSETS

Debt tribunal initiates SPIC Petro asset sale
THE Debt Recovery Tribunal (DRT) has appointed a court receiver for sale of assets of SPIC Petrochemicals Ltd, promoted by SPIC Ltd, the flagship of the A.C. Muthiah group. The total outstanding amount due by the company is Rs 1,100 crore ... More

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