HDFC Securities launches Dial a Share service
Mumbai: HDFC Securities on Tuesday launched the Dial a Share service, which enables a customer to call a toll-free number and place his order for buying or selling a share. This service is available to registered customers.
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More UTI schemes to come under SEBI ambit
Mumbai: More schemes managed by Unit Trust of India are expected to come under the purview of the Securities and Exchange Board of India, initially on a voluntary basis. Already, 12 UTI schemes have such an arrangement.
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Investor awareness of MFs must be raised
Mumbai: Working within the strict regulatory environment and conforming to the standards that match global requirements, the Indian mutual fund industry is poised for a sustained growth in the coming years, A P Kurian, chairman, Association of Mutual Funds of India, said.
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Sebi asks AMFI to prepare report on real estate MFs
Mumbai: The Securities and Exchange Board of India has proposed to the Association of Mutual Funds of India to prepare a report on the introduction of real estate mutual funds, Sebi Chairman G N Bajpai said.
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Surveyors want IRDA cap on business eased
New Delhi: IRDA has stipulated that a surveyor can undertake work in a maximum of three departments out of the various segments. These include fire, engineering, motor, miscellaneous, marine cargo, marine hull and loss of profit.
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Foreign firms, NRIs allowed to open term deposit A/Cs
Mumbai: The Reserve bank of India has permitted authorised dealers to open term deposit accounts in favour of foreign firms with branches or offices in India and also for non-resident Indians for a period of six months.
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NPAs continue to haunt banks
Mumbai: The bugbear of non-performing assets continue to haunt public sector banks. In fiscal 2001-02, 24 public sector banks added Rs 11,180 crore of gross non-performing loans. That was almost twice the profits of Rs 5,675 crore.
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CDR: All bark, no bite
Mumbai: Corporate debt restructuring, prompted by the Reserve Bank of India in 2001, never passed the stage of official circulars. Now the central bank has set up a high-level group under Vepa Kamesam, deputy governor, RBI, "to review the operations of the CDR."
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StanChart adds more glitter to Gold Card
Mumbai: Standard Chartered Bank has introduced a series of benefits and services on its Gold Card for all its new and existing card members. Standard Chartered and Standard Chartered and Grindlays Gold card members can now avail themselves of the new card.
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Banks wait to step into call market
Mumbai: Banks are vying for a share of the Rs 450 crore pie that is going to be up for grabs as and when financial institutions move out of the call money market.
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Nabard links refinance for DCCBs, RRBs to NPAs
Mumbai: Nabard has linked its quantum of refinance for district central cooperative banks and regional rural banks to their non-performing assets from this current fiscal.
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State Bank of Bikaner and Jaipur announces 40% dividend
Jaipur: State Bank of Bikaner and Jaipur on Tuesday announced a 40-per cent dividend on an all-time high net profit of Rs 165 crore during the year 2001-02.
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Bank lawsuits weaken monetary policy
Mumbai: Frustrated at a failure to convince Argentine depositors to swap savings for government bonds, economy minister Roberto Lavagna lashed out on Monday against lawsuits bleeding the financial system.
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