The Hindu Business Line : Saturday, May 10, 2003

ICICIdirect offers bonds online
ONLINE share trading service ICICIdirect.com has launched the Government of India 6.5 per cent tax-free Savings Bonds 2003 online on its Web site. The service, available on www.icicidirect.com, claims ... More

FOREX

Forwards recover; gilts up
Mumbai: FORWARD premium partially recovered on Friday from the previous day's lows, with the six-month premium ending higher at 1.31 per cent (0.87 percentage point) and the premium for one year closing at 1.38 per cent (1.23 per cent) in the ... More

RBI not for volatility in forex market
THE RBI Deputy Governor, Dr Rakesh Mohan, on Friday said the foreign exchange rates are determined by market forces but that the RBI would not like to see undue volatility in the market. Responding to media queries on the sharp fall in forward ... More

INSURANCE

Effect of falling interest rates — Insurers seek changes in investment norms
INSURANCE companies, both in the public and private sectors have sought a departure from the existing system of mandated investments. Sources said they had sought these relaxations from the Insurance Regulatory and Development Authority (IRDA) ... More

STOCKS

Fund managers stay with banking sector
FUND managers seem to be bullish about the banking sector given a structural shift in lending towards retail assets and likely NPL recoveries through the asset reconstruction companies (ARCs), according to the DSP Merrill Lynch India Domestic ... More

FINANCIAL PERFORMANCE

IndusInd Bank Q4 net down 64% on low treasury income
WITH drop in treasury income, the net profit of IndusInd Bank dropped by 64 per cent for the quarter ended March 31, 2003 to Rs 3.66 crore as against Rs 10.22 crore in the corresponding period of the previous year. However, for the full ... More

PUBLIC SECTOR BANKS

UCO Bank aims at Rs 1-lakh cr business in four years
UCO Bank has crossed the Rs 48,000-crore business mark in March 2003, according to a press note issued by the bank. The Kolkata-based bank has set a target of Rs 1,00,000 crore in the next four years based on the completion of its strategic ... More

ORG-Marg to evaluate service quality — Andhra Bank sees growth at 24 pc
ANDHRA Bank has projected a sizable growth of 23.63 per cent in total business for the current fiscal year at Rs 40,750 crore as against Rs 32,961 crore achieved during last fiscal. Addressing newspersons here, the Andhra Bank Chairman and ... More

GOVT BONDS

RBI hikes non-competitive bid level in G-secs auction
MUMBAI: The RBI has enhanced the maximum limit a non-competitive bidder can bid in a Government securities auction. The maximum limit of the value of a single bid by a non-competitive bidder such as small co-operative banks, RRBs, PFs ... More

NON-PERFORMING ASSETS

IFCI takes over East India assets
IFCI Ltd has taken possession of the assets of the East India Symex Ltd under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. This is the second takeover by the institution close to its ... More

CO-OPERATIVES

AP co-op bank victims to organise rally
HYDERABAD: Hundreds of victims of crisis-ridden co-operative banks in the State, who have rallied behind the Visu Trust, have decided to organise a massive rally on Sunday, demanding that their monies locked in those banks be returned. ... More

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