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Panel
sees 136 more sick Uraban Co-operative banks by March
New Delhi: The Estimates Committee of Parliament
sees an additional 136 urban co-operative banks becoming
sick by the end of the current financial year.
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Haryana
to undertake census of sick SSIs
New Delhi: The Union industry ministry, Reserve
Bank of India, Industrial Development Bank of India and
Small Industries Development Bank of India have initiated
an exercise to identify sick small scale units in Haryana,
with a view to at least recover outstandings from them
and if possible revive them.
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Power
Finance Corporation cuts rates on loans to SEBs by up
to 75 bps
Mumbai: The state-run Power Finance Corporation
(PFC) has reduced its interest rates by 25 basis points
for the long-term loans and 75 basis points for short-
term loans granted to state electricity board with effect
from November 1 in the wake of the recent RBI credit policy.
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Lenders
can go solo on legal front under debt ordinance
Mumbai: Lenders can independently take action once
notices have been issued by them to defaulters under the
new debt Ordinance.
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State
loans auctioned
Mumbai: The Reserve Bank of India on Monday auctioned
10-year loans issued by the state governments of Maharashtra,
Kerala, Punjab and Madhya Pradesh. The loans were fully
sold.
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Siam
Commercial Bank plans to shut India operations
Mumbai: Siam Commercial Bank, having Thailand government
as a major shareholder, is planning to close down its
banking operations in India from November 30, 2002, as
part of its global restructuring strategy.
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Citicorp
gets okay for PD
Mumbai: The Reserve Bank of India has granted final
approval to Citicorp Capital Markets Ltd to operate as
a primary dealer in the Government securities market.
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Clearing
Corpn to launch free forex platform
Banks may soon get a screen-based platform to trade in
foreign currencies free of cost. The Clearing Corporation
of India (CCIL) is all set to launch its forex trading
platform, which will initially facilitate dollar-rupee
deals without any fee.
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RBI
hikes forex ceiling
Mumbai: The Reserve Bank of India has raised the
limit of foreign exchange available to residents for private
visits abroad to $10,000 or its equivalent, from the present
limit of $5,000.
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Canara
Bank plans bigger presence in Kerala
Kochi: Canara Bank has embarked upon a major IT
initiative by opening more Anywhere Banking centres across
major cities in Kerala. The bank proposes to open two
anywhere banking centres in Ernakulam and Thirunvananthapuram
within a month.
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Life
insurers' foray adds depth to G-secs market
Mumbai: Life insurance companies have emerged as
large traders in the securities markets and added greater
depth to the securities markets.
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