Financial Daily from THE HINDU group of publications
Thursday, March 07, 2002
Forex Rates March 6 (4.30 p.m. IST)
1 PoundRs 69.15
1 EuroRs 42.30
1 USDRs 48.63
100 YenRs 36.91
1 Sing $Rs 26.61

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FOREX


Rupee firm; securities dip
Mumbai: THE rupee closed marginally firmer on Wednesday at 48.68/69 against the dollar as compared to the previous close of 48.6950/7050 in a lacklustre forex market. The rupee opened at 48.6950/7050. Forex dealers said that foreign banks were ... More

INFORMATION TECHNOLOGY


Novell solution for Bank of Rajasthan
BANGALORE: Onward Novell Software (I) Ltd, a joint venture between Onward Network Technologies and Novell Inc, USA, has announced that Bank of Rajasthan has implemented a comprehensive IT infrastructure with Novell's NetServices ... More

HOUSING FINANCE


Housing loan rates seen holding steady
THE interest rates on home loans are showing signs of staying steady at the current levels and are unlikely to soften steeply in the near term despite the recent cut in the administered interest rates by the Government, housing finance companies ... More

IFC to partner NHB in credit guarantee outfit
The Finance Minister had announced that NHB was firming up plans to launch a Mortgage Credit Guarantee Scheme that would protect lenders against default. The new company is expected to have a paid-up capital in excess of Rs 100 crore. More

Birla Home Finance plans retail spread
NEW DELHI: Birla Home Finance is chalking out a plan to spread its retail network and gain a bigger share of the growing housing loans market, a top company official has said. The joint venture between the K.K. Birla-promoted Chambal ... More

GENERAL INSURANCE


Iffco-Tokio to tap co-ops for growth
IFFCO-TOKIO General Insurance Ltd (ITGIL) has targeted co-operative societies and co-operative banks for expanding its insurance business. ITGIL is a joint venture between the country's largest co-operative, Indian Farmer's Fertiliser ... More

PRIVATE BANKS


Karnataka Bank relief package for farmers
THE Mangalore-based Karnataka Bank has launched a package of measures for farmers in the context of the continuous downslide in the prices of several agricultural commodities. The package includes the launch of a new scheme — Punaschetana ... More

CORPORATE BONDS


IDBI may cut rate on Flexibonds
INDUSTRIAL Development Bank of India (IDBI) is likely to cut the coupon on its Flexibonds by an average of about 25-basis points. It is also likely to re-introduce the Money Multiplier Bond which was withdrawn in the last issue, sources told ... More

PEOPLE


Bhavin Shah joins JP Morgan
MUMBAI: JP Morgan had announced that Mr Bhavin Shah would become the Managing Director and head of Technology Equity Research in the Asia-Pacific with immediate effect. Mr Shah joins JP Morgan from Credit Suisse First Boston (CSFB), ... More

NEW PRODUCTS & SERVICES


GTB mobile banking in Chennai
HYDERABAD: Global Trust Bank (GTB) has announced the launch of its mobile banking facility — Intouch — for its customers in Chennai. The service is being offered in association with RPG Cellular. The bank's mobile banking ... More

Federal Bank plans more ATMs
THIRUVANANTHAPURAM: Federal Bank proposes to set up 50 ATMs across the country by June 30, according to Mr K. P. Padmakumar, Chairman. Speaking here at the opening of the bank's third ATM in Thiruvananthapuram and the 28th ... More

ABN-Amro unveils service for `super rich'
ABN-AMRO Bank on Wednesday announced the launch of a new product for "super-affluent customers'' who are in need of customised financial solutions. Called "Van Gogh Preferred Banking,'' the service would require savings account holders to ... More


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