In global village, its only DI not FDI: unctad report
Mumbai: The global foreign direct investment inflows dipped by 51 per cent during 2001 compared to 2000, marking the first decline in a decade.
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RBI spots 2,035 bank frauds involving Rs 556 crore in 01-02
Mumbai: Nearly 2,035 frauds involving Rs 556.43 crore were detected in public sector, private sector and foreign banks in 2001-02.
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Dewan slashes home loan rates by 50 bps
Mumbai: Dewan Housing Finance Corporation Ltd on Tuesday slashed its home lending rates by 50 basis points across maturities. DHFL has also introduced monthly reducing system along with its annual reducing method to offer competitive home loan rates.
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HDFC to seal cross-marketing pact with HDFC Bank soon
Mumbai: Housing Development Finance Corp Ltd will shortly enter into a cross marketing agreement with HDFC Bank Ltd, according to HDFCs managing director, Keki M Mistry.
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TNUIFSL to come out with 15-year bonds by next month
Chennai: Tamil Nadu Urban Infrastructure Financial Services Ltd will come out with a 15-year bond carrying a coupon rate of 9 per cent to 9.5 per cent by mid-October.
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Staff will help rehabilitate RRBs, says union
Visakhapatnam: The Central Executive Committee of the Bharatiya Mazdoor Sangh-affiliated All-India Gramya Bank Officers' Organisation and the All-India Gramya Bank Workers' Organisation , which met at Cuttack over the past two days, has opposed the move to privatise regional rural banks (RRBs) and offered to help in their rehabilitation by picking up a slice of their equities.
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Cholamandalam disbursements up 68 per cent
Chennai: Cholamandalam Investment and Finance Company Ltd's loan disbursements in the first five months of the current year have increased 68 per cent to around Rs 400 crore.
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Plea for compassionate employment
Kochi: The General Insurance Officers All India Association's Kerala unit has urged the General Insurers Public Sector Association to review its decision to stop all appointments on compassionate grounds.
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RBI argues for public investment
Mumbai: The RBI has taken the bull by the horns. Its latest annual report contains a lot of indirect advice to Government on the dangers of according overriding importance to the fiscal deficit.
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No policy focus on FII stake in banks
New Delhi: With Government going slow on legislation to bring down its stake in banks to 33 per cent, the major players will continue to languish under New Delhi's rule.
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Andhra Bank to promote 600 more clerks
Chennai: In order that its counters are "manned by empowered people" and to give its employees higher incomes and social status, the Andhra Bank intends to promote 600 more clerks as officers.
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Big fish defaults sink banks
New Delhi: A Handful of big fishes in the troubled waters of non-performing assets (NPAs) of public sector banks have gobbled up big money. According to figures available with the Ministry of Finance, high-value defaults exceeding dues of Rs 5 crore each accounted for Rs 22,866 crore of bad debts of the 27 PSU banks as on March 31, 2002 through 1,741 accounts.
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Visa targets 50-m debit cards in India by 2010
Visa said it plans to issue 50 million Visa Electron debit cards in the country by the 2010. Of the total 3.3 million debit cards in the Indian market, Visa accounts for 2.5 million, according to James G Murray, Executive Vice-President, South-East Asia.
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DCB once again contests Pitti Laminations sickness
Mumbai: In an interesting development, Development Credit Bank Ltd, the Mumbai-based scheduled commercial bank, has contested the `sickness' of Pitti Laminations Ltd, the Hyderabad-based company engaged in the manufacture of electrical stampings and laminations die cast rotors, for the second time before the Appellate Authority for Industrial and Financial Reconstruction.
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