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Sinha
to review lending rates with bank chiefs
New Delhi: The lending rate structure of public sector banks
will come under fresh scrutiny during the forthcoming meeting of
Finance Minister Yashwant Sinha with the chiefs of the banks.
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Global
cards not to be used for banned items: RBI
Mumbai: The Reserve Bank of India on Tuesday clarified that
international credit cards cannot be used on the Internet or otherwise
for the purchase of prohibited items, lottery tickets being one of
them.
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Long-term
FCNR deposits not feasible for banks
New Delhi: Many of them which had accepted FCNR deposits for
three years in 2001 at Libor were now stuck with high-cost funds as
global interest rates have crashed since then. In March 2001, the
one-year Libor was around 6.50 per cent.
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Nabard
gets nod For Rs 1,000-cr tax-free bond float
New Delhi: The ministry of finance has given an in-principal
nod to the National Bank for Agriculture and Rural Development to
float a Rs 1,000 crore tax-free bond issue to meet its fund
requirements.
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NHB
plans Rs 50-crore MBS for PNB Housing
New Delhi: Close on the heels of its mortgage-backed securities
issue for Canfin Homes Ltd, the National Housing Bank will be
launching a Rs 50-crore issue for PNB Housing Finance in July 2002.
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IDFC
to focus on reforms in agro-market infrastructure
New Delhi: The Infrastructure Development Finance Company,
which has approved financial assistance for 71 projects aggregating Rs
8,665 crore as on 31 December 2001, will focus on reforms in agro-markets
infrastructure, as part of its food and agro-sector agenda for the
current year.
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Emirates
Bank eyes small stake in ICICI Bank
Mumbai: Emirates Bank International is planning to buy a small
stake in ICICI Bank, as part of its new philosophy to have a strategic
presence in countries where it wanted to operate.
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Mizuho
files report to regulator on computer woes
Tokyo: Mizuho Financial Group said on Tuesday it had submitted
to Japans top bank regulator a report outlining measures to prevent
a recurrence of the computer failures that affected millions of its
transactions in April 2002.
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