Financial Daily from THE HINDU group of publications
Saturday, June 04, 2005
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Financial Daily from THE HINDU group of publications Saturday, June 04, 2005 |
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MONEY & BANKING NRIS More NRIs converting IMDs into rupee accounts NON-resident Indians are beginning to convert their maturing India Millennium Deposits (IMDs) into domestic rupee accounts on the same lines as in the case of Resurgent India bonds in 2002. Banking sources said that the shift to rupee deposits ... More REGIONAL RURAL BANKS Consolidation of RRBs may gather pace CONSOLIDATION of regional rural banks (RRBs) may gather further pace, with the Finance Minister, Mr P Chidambaram, set to give his nod for such a process in nine States. If a sponsor bank had more than one RRB in a State, all the RRBs in that ... More INSIGHT Pegged yuan: Five cheers to China It may be unfashionable to defend pegged exchange rates. But it is also necessary to showcase what China has managed to accomplish through a somewhat indefensible policy. China will let the yuan float freely, some day. But it would be foolish to disr egard the enormous gains reaped from pegged rates, says G. Ramachandran. More COURTS/LEGAL ISSUES Larger issues for a larger Bench K. Srinivasan analyses the recent apex court ruling in the Standard Chartered Bank case More FOREX Rupee firmer; gilt prices rally MUMBAI: The rupee gained against the US dollar on the back of good inflows on Friday. It opened at 43.65/67 and closed the day at 43.67, up from Thursday's close at 43.68/69. A dealer at a private bank said, "There were dollar inflows, ... More FINANCIAL PERFORMANCE TMB clocks Rs 174-cr profit, to pay Rs 25 THE Tuticorin-based Tamilnad Mercantile Bank (TMB) has clocked an operating profit of Rs 174.21 crore for the year ended March 31, 2005, up from Rs 169.89 crore during the previous year. The bank has proposed a dividend of 250 per cent (Rs 25), ... More NBFCS 
NBFCs allowed to borrow overseasTHE United Progressive Alliance Government revised the external commercial borrowings (ECBs) norms for the first time after assuming office more than a year ago. The ECB norms were last revised in January 2004, according to an official ... More HUMAN RESOURCES South Indian Bank trims average age of employees SOUTH Indian Bank has reduced the age profile of its workforce through an innovative welfare scheme: by which the older generation of employees give way to their young, professionally qualified and dynamic sons and daughters into the bank's ... More RBI & OTHER CENTRAL BANKS 48 cos seek RBI nod for ECBs UNITED Spirits, McDowell, Phipson Distillery, Mercator Lines and Bharat Forge are among the 48 companies that had sought permission from the RBI to raise money abroad in April 2005. These companies proposed to raise funds through external ... More PRIVATE BANKS 
Karnataka Bank revises NRE ratesKARNATAKA Bank Ltd has announced revised rates on NRE term deposits with effect from June 1, according to a bank release here. |