The Hindu Business Line : Saturday, March 08, 2003

Toyoto Fin of US outsources systems management to TCS
TATA Consultancy Services (TCS) has bagged an offshore maintenance contract from Toyota Financial Services of the US. This is the first time that the US operations of Toyota Financial Services has outsourced the management and process ... More

Bright scope seen for financial planners
THE Association of Financial Planners (AFP) sees growth in the demand for certified financial planners in India as an indirect fallout of the Budget. In his maiden Budget, the Finance Minister, Mr Jaswant Singh, has proffered a new pension ... More

PENSION PLANS

Cobwebs gather on IRDA report — Pension reforms draw `life' from OASIS
A PENSION reform thirsty Government appears to have rushed to the OASIS (Old Age Social and Income Security) to quench its thirst, leaving the Insurance Regulatory and Development Authority (IRDA) high and dry in the process. A close look at ... More

Max NY Life's pension plan
MAX New York Life today launched `Easy Life', a plan to help people meet their post-retirement financial needs. The plan allows customer to choose his retirement any time between 50 and 70 years of age through three annuity options that help ... More

FOREX

Rupee slips; gilts recover
Mumbai: THE rupee closed lower on Friday at 47.6500/6550 against the dollar as compared to Thursday's close of 47.6250/6300 in an actively traded forex market. There was good dollar buying by banks, which caused the domestic currency to ... More

CONSUMER FINANCE

UNEP ties up with banks to boost solar home systems
To boost solar hoem systems, a $7.6-million initiative between the United Nations Environment Programme and two of the country's largest banking groups has been launched. More

RBI & OTHER CENTRAL BANKS

RBI stipulation for securitisation co
ANY securitisation and reconstruction company applying for the Reserve Bank of India's registration should have a minimum-owned fund of Rs 2 crore, the central bank has stipulated. RBI said it would shortly notify final guidelines and ... More

PRIVATE BANKS

Moody's upgrades ICICI Bank foreign currency bond ratings
INTERNATIONAL rating agency, Moody's Investors Service, has upgraded the foreign currency bond rating of ICICI Bank Ltd to `investment grade' making it, probably the only company in India to get this rating. Moody's Investors Service has ... More

PUBLIC SECTOR BANKS

Syndicate Bank loan offer for women
TO mark occasion of International Women's Day on March 8, Syndicate Bank has announced that it will be waiving service charges on fresh vehicle and consumer durable loans taken by women under the `Synd Vahan' and `Synd Suvidha' schemes. The ... More

Dena Bank's foreign currency loan plans
IN pursuance of the recent RBI guidelines, Dena Bank has introduced two new schemes to suit Indian residents and non-resident Indians. The foreign currency loans scheme, which is for account holders of FCNR (B) deposits in India, will enable ... More

FOREIGN BANKS

ABN-Amro to float MF
AS part of its expansion plans in India, ABN-Amro Bank will be floating a mutual fund, Mr Rijkman Groenink, Chairman, ABN-Amro Bank N.V., said today. Talking to presspersons here today, Mr Groenink said the bank hoped to float the asset ... More

GOVT BONDS

State bonds sale

NON-PERFORMING ASSETS

Banks at receiving end on bad debt sale by ARCs
TALKS between banks and RBI on guidelines for asset reconstruction companies (ARCs) seem to be stuck on pricing of assets. ARC managers favour a system of asset pricing which takes into account the current value of the impaired asset minus ... More

CO-OPERATIVES

Angry depositors ransack properties of directors — AP Govt panel takes control of Vasavi bank
As on February 28, the bank had extended advances of Rs 126 crore, while its deposit base stood at around Rs 141 crore. Over 98 per cent of the bank customers have insurance cover on their deposits. More

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