Kerala: Chit fund companies protest amendments
Thiruvananthapuram: The new amendments which have been incorporated into the Kerala Chitties Act would sound the death-knell of the sector, putting lakhs of customers and operators to serious difficulties. 
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RBI for strict provisions under debt ordinance 
Mumbai: The Reserve Bank of India is all set to suggest to the Ministry of Finance that legal provisions under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Ordinance (2002) be made iron-clad. 
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IA may pay 17 pc more for insurance renewal
New Delhi: Indian Airlines is to pay close to $31 million to renew the insurance cover for its fleet of more than 50 aircraft. 
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Third party cover: `IRDA must issue clear-cut norms'
While condemning general insurance companies for turning down third party insurance cover for motor vehicles, the Coimbatore Consumer Cause (CCC) has appealed to the Government and the IRDA to issue specific instructions and strict guidelines to the insurance companies on this issue. 
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Insurance cos prefer short-term securities
Mumbai: Unless yields rise, insurers are likely to stay away from the new crop of Government securities, preferring to tap the secondary markets for high coupon securities. Moreover, traders said, insurers were increasingly looking at the shorter ended securities. 
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Tenure of recap bonds for banks to be perpetuity
New Delhi: The Government has decided to convert fixed coupon rate of 10 per cent on recapitalisation bonds of Rs 5,000 crore issued to public sector banks into floating rates. 
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`Limitation clause may hit NPA recovery'
The fine print of the Ordinance to recover non-performing assets (NPAs) continues to worry lenders. Banks fear that the stipulation of the applicability of the Limitation Act might come in the way of initiating fresh action under the Ordinance against a large section of defaulting borrowers. 
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Hindustan Photo Films owes Rs 437 cr to banks
Coimbatore: Coimbatore district accounts for over 14 per cent of the bad loans in the State. According to the loan defaulters' list (as on March 31, 2001) released by the Coimbatore District Bank Employees Association (CDBEA) the number of defaulters'above Rs 1 crore number 167 in this district and the amount totalled Rs1, 230.01 crore, as against the State's total of Rs 8, 554.99 crore of 1, 593 accounts. 
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Diamond Jubilee Co-op runs into rough weather
Ahmedabad: Yet another cooperative bank, this time from the diamond city, seems to have folded up, buttressing fears that quite a few co-operative banks in Gujarat are set to run into rough weather in the coming days. 
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Managing cash is as good as making it 
Mumbai: In desperate need of money; stuck with an out-station cheque with clearance only in 15 days? The solution: cash management services provided by nearly all major banks. But cash management services are not only about encashing out-station cheques. 
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RRBs and the Rao panel: will the story change now? 
New Delhi: It is official now. The Chalapathi Rao Committee set up for the revival of regional rural banks has recently submitted its report to the Centre. The report has recommended a complete makeover in the RRB structure. 
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Inter-bank market sees more open market operations 
Mumbai: With the Reserve Bank of Indias surprise open market operation sales on Saturday getting over-whelming response, market expectation is that there could be another round of OMOs if the 10-year benchmark yield again dips sharply. 
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Recapitalisation bonds mooted for IFCI bailout 
New Delhi: The government is considering issue of recapitalisation bonds to bail out the ailing IFCI Ltd, but the amount will depend on the shortfall required to be met after banks and other creditors have chipped in with their bit. 
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