Mixed trend seen for next fiscal 
Mumbai: RBI, in its Annual Report for 2001-02, released on Friday made it explicitly clear that the country will have to say goodbye to all hopes of a 6-6.5 per cent GDP growth in 2002-03. 
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Benchmark for G-secs market in the offing 
Mumbai: The Reserve Bank is set to evolve a benchmark for the government securities market based on the 10-year G-Sec in line with international best practice after studying the practice in at least 11 countries. 
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Pvt banks told to boost farm credit 
Mumbai: In view of the poor compliance with RBI norms on agricultural lending by private sector banks, the central bank has expressed its concern over the poor extension of credit to the sector. 
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Non-bank players call market lending to be reduced to 75% 
Mumbai: The Reserve Bank is contemplating to move to the next stage in its plan to phase out non-bank institutions from call/notice money market by bringing down the level of their lending in the market to 75 per cent of 00-01 levels from the present permitted level of 85 per cent. 
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Total income up 13% ut Rs 24,690 crore 
Mumbai: RBI's total income for the year ended June 2002 increased by Rs 2,841.47 crore or 13 per cent to Rs 24,690.34 crore, thanks mainly to the profits booked on sale of rupee securities, which enabled it to pay a dividend of Rs 10,320 crore to the Centre. 
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Banks cut rates on corp deposits
New Delhi: Banks are getting choosy over deposits, discouraging big deposits, particularly from corporates. 
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Pension funds market - IRDA seeks tariff structure from prospective players
New Delhi: The Insurance Regulatory and Development Authority has asked the financial institutions, banks, mutual funds, insurance companies and the postal department to submit their tariff structure for the entire process of administration. 
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IMF, RBI and the rupee
In separate assessment reports of the Indian economy, the International Monetary Fund prescribed a little more adventurism for the rupee while the Reserve Bank of India rooted for flexibility with caution and watchfulness. 
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Debt-swap mechanism- RBI not for stepped-up borrowings by States
Mumbai: The Reserve Bank of India (RBI) has expressed reservation over the Finance Ministry's proposal to allow States additional market borrowings of around Rs 10,000 crore a year to swap high cost loans contracted in the past. 
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Exchange of soiled notes
Coimbatore: A camp for exchange of soiled and mutilated currency notes is being organised jointly by the Reserve Bank of India and Vijaya Bank in Coimbatore on September 2 2002. 
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ICICI Bank's mobile facility
Mumbai: Beep, beep your mobile will go for every cheque/cash deposit, withdrawal and salary credit, if you are banking with ICICI Bank. The bank has launched its mobile phone facility as yet another facet of the multi-channel approach. 
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Petition on election of Director Board - Federal Bank to file counter petition in Alappuzha court
With four candidates having filed in their papers to the two vacancies, the stage was set for a keen contest to the Director Board of Federal Bank this year. 
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ICICI Bank cuts tenor-linked PLR
Mumbai: ICICI Bank has reduced its tenor-linked prime lending rates (PLR) by 50 basis points to one per cent. Rates on the short-term PLR, for a maturity of up to one year, has been lowered to 11.50 per cent from 12.50 per cent previously. 
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Union Bank launches bullion scheme
Mumbai: Union Bank of India has said it has launched a bullion scheme "in a bid to provide value-added service" to its bullion dealer clients at one of its branches. 
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Cos, MFs may be allowed in repo market
Mumbai: THE Reserve Bank of India proposes to allow corporates, mutual funds and other entities in the repo market. 
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Debt recovery progress slow
Mumbai: The process of debt recovery and asset restructuring initiatives undertaken as part of financial sector reforms has been somewhat slow, according to the Reserve Bank of India. 
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Jaswant sends UTI bail-out package for political okay
New Delhi: The Finance Ministry has finalised the Cabinet proposal on the bail-out package for Unit Trust of India (UTI), including the organisational restructuring and a commitment to the new sponsors to fulfil obligations.
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