The Hindu Business Line : Tuesday, December 31, 2002

Rupee gains 6 paise
Mumbai: THE rupee ended on Monday at thirteen month's high, almost 6 paise stronger at 47.9350/9450 against the dollar as compared to its previous close of 47.9900/9950. Good supplies of the dollar combined with heavy selling of the greenback ... More

INFORMATION TECHNOLOGY

TCS solution for City Union Bank
TATA Consultancy Services (TCS) has bagged an Rs 15-crore order from City Union Bank (CUB) for implementing its core banking and market risk solution for the bank. TCS would provide quartz-based core banking software solution to CUB, which has ... More

LIFE INSURANCE

Lord Krishna Bank to sell ICICI Pru Life products
ICICI Prudential Life Insurance Company has tied up with Kerala-based Lord Krishna Bank, for the distribution of its life insurance products. Speaking to presspersons on the occasion of the launch here today, Mr S.R. Sinha, Senior ... More

GENERAL INSURANCE

Mediclaim premiums to be hiked 6 pc
MEDICLAIM policy premiums are to be hiked effective January 1 by about six per cent by the four public sector insurance companies — New India Assurance Company Ltd, National Insurance Company Ltd, United India Insurance Company Ltd and the ... More

RBI & OTHER CENTRAL BANKS

SDRM: Debt restructuring or liquidation?
Experience makes clear that under the currently prevalent liberalised financial regimes, financial crises are inevitable. As a result, even the Bretton Woods institutions are in search of ways not just to prevent financial crises but to deal with the m. One scheme being advocated by the IMF is the Strategic Debt Restructuring Mechanism. C. P. Chandrasekhar and Jayati Ghosh examine the proposed mechanism, discuss the factors that motivate those advocating it and assess the likely con sequences of its implementation. More

PUBLIC SECTOR BANKS

Vijaya Bank to get a facelift
IF you had not noticed yet, you will, may be in the next fortnight see the accomplishment of the `image projection' exercise resorted to by Vijaya Bank. The logo associated with the bank has not changed, but made more visible, by adding colour ... More

GOVT BONDS

10-year paper yield falls to 6.11 pc
IT was a `frenzied' day in the debt market on Monday with traded volumes touching a high of Rs 7,825 crore against the daily average of Rs 3,000 - Rs 4,000 crore. Yields on Government securities touched new lows yet again, with the benchmark ... More

MSRDC redeeming Regular Return Bonds
THE Maharashtra State Road Development Corporation (MSRDC) on Monday commenced redemption of its Rs 800-crore Regular Return Bonds series - I by issuing a cheque of Rs 175 crore to the Unit Trust of India (UTI), the largest investor in ... More

NON-PERFORMING ASSETS

Canara Bank may recover Rs 279 cr in second half
The spurt in bad loans recall is likely to help the bank compress its non-performing asset (NPA) ratio to 3.50 per cent by March-end from 3.84 per cent, as reported on September-end. More

Vijaya Bank plans more roadshows to recover dues
OVERWHELMED by the positive response to the recovery drive, Vijaya Bank is now planning more such road shows in the near future. "We did not impinge on their rights. But the impact of the road show — the banners and vehicles parked at ... More

SECURITISATION

ALF securitises Rs 702-crore receivables
ASHOL Leyland Finance (ALF) has securitised its receivables to the tune of Rs 702 crore during April-December 2002, comprising of hire purchase and loan receivables of commercial vehicles, cars, used vehicles, utility vehicles, construction ... More

FIXED DEPOSITS

Netravati Grameena hikes deposit rates
MANGALORE: Netravati Grameena Bank has increased its interest rates on term deposits invested for a period of over one year to 8 per cent, with effect from December 27. According to a release issued here today, the bank also offers an ... More

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