The Hindu Business Line : Friday, March 14, 2003

AON Global gets licence for broking
AON Global Insurance Services Private Ltd (AGISPL) has received its composite insurance broking licence from the Insurance Regulatory and Development Authority of India. The company will have an initial capital base of Rs 2.5 crore and will ... More

FOREX

Rupee steady; G-secs choppy
Mumbai: THE rupee was unchanged in its value against the greenback on Thursday at 47.6550/660 despite good demand for the dollar as compared to Wednesday's levels. The demand for dollar by public sector oil companies was met by good inflows, ... More

Forex-Re options to hedge risks allowed
THE Reserve Bank of India has decided to introduce foreign currency-rupee options for hedging currency exposures in the forex markets. This is expected to give more flexibility to corporates, institutions and other players in the forex market to ... More

STOCKS

Banks' dividend yields better than FD rates
IF falling deposit interest rates in banks and NBFCs are a matter of concern for millions of investors, investment in their shares could be a better option, as the dividend yield is higher than their deposit rates. A comparison between the ... More

Canara Bank sees buying interest
CANARA Bank stock today moved up on buying interest, mainly from operators and traders, according to brokers. The stock opened on the Bombay Stock Exchange at Wednesday's closing of Rs 61.55, rose to the intra-day high of Rs 63.60 and settled ... More

GENERAL INSURANCE

United India to vend vanillas via banks
THE United India Insurance Company Ltd, one of the four public sector non-life insurance majors headquartered at Chennai, has decided to out-licence its vanilla products to various banks across the country. The products will be sold through the ... More

War may jack up risk premiums for ships
RIPPLES of the growing tension in the Gulf with the US massing its troops on the Iraqi border is being felt in the Indian insurance market. Insurance premia for Indian vessels sailing in the proximity of the Gulf region are likely to be jacked up ... More

Insurance officials allege harassment

CREDIT RATING

S&P upgrades Tata Engg to stable
STANDARD & Poor's Ratings Services has revised the outlook on its `BB-' rating for Tata Engineering, to stable from negative. According to an official statement posted on S&P's Web site, the revision is based on improving profitability in the ... More

PUBLIC SECTOR BANKS

Andhra Bank pact with United India
HYDERABAD: Andhra Bank has announced that it has received the licence of the Insurance Regulatory and Development Authority (IRDA) to act as a corporate agent for procuring or soliciting insurance business of United Indian Insurance ... More

FOREIGN BANKS

Low wants Stanchart to be the best bank
Mr Christopher M. Low, the new CEO of Standard Chartered in India, has a simple aim: To make Standard Chartered the best bank in the region. " When I say the best Bank, I mean the best in profitability, productivity and customer ... More

Rabo India gets $25 m from parent
NEW DELHI: Rabobank Nederland has injected fresh capital of $25 million into Indian subsidiary Rabo India. With this, the current shareholding in the Indian venture has gone up to 100 per cent from the earlier 75 per cent. The net ... More

INTEREST RATES

Fair deal still eludes farm sector
BANKERS are not in a hurry to make public the low interest regime prescribed by the Union Budget for agriculture and small-scale industries. In his budget address Mr Jaswant Singh has admitted, "the full benefits of the declining rates of ... More

GOVT BONDS

Govt to issue 6.5% tax-free savings bonds
THE Government today announced the decision to launch 6.5 per cent tax-free Savings Bonds (2003) with effect from March 24. The bonds, with maturity period of five years, will not attract wealth tax, with interest on these (to be payable ... More

State loan sale

CORPORATE BONDS

ICICI Bank bonds sale
MUMBAI: ICICI Bank is launching a retail issue of bonds, including a tax-saving one, on March 15. The bank has, however, pared the interest rate on the bonds — tax-saving and regular income — to 6.75 per cent. The issue, ... More

Nabard bonds oversubscribed

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