|
Banks
see tough days ahead for SFC bonds
New Delhi: State financial corporations are unlikely
to raise as much funds as they had expected this time
around as most banks, particularly public sector ones,
have decided not to subscribe to bond issues liberally
even as such investments qualify for meeting statutory
liquidity ratio norms.
Back
to News Review index page
Offer
to turn US-64 into bonds opens tomorrow
Mumbai: The option to holders of US-64 certificates
to convert their holdings into tax-free bonds in lieu
of the units would be on offer from March 15. However,
the bonds will be issued in May.
Back
to News Review index page
Panel
for inclusion of states’ guarantee obligations in
budget
New Delhi: The state finance secretaries’ panel,
appointed by RBI to assess risk of state government guarantees,
has suggested that provision for repayment of such guarantees
should be made in the budget (state) itself, as a large
number of state government guarantees are effectively
in the nature of debt.
Back
to News Review index page
Investment
cap on tax-free saving bonds removed
New Delhi: The finance ministry has removed the investment
ceiling on tax-free saving bonds. The bonds will have
a maturity of 5 years and carry an interest rate of 6.5
per cent per anum payable half yearly. The scheme commences
from March 24, 2003.
Back
to News Review index page
AON
Global gets licence for broking
New Delhi: AON Global Insurance Services Private Ltd
(AGISPL) has received its composite insurance broking
licence from the Insurance Regulatory and Development
Authority of India.
Back
to News Review index page
Forex-Re
options to hedge risks allowed
Mumbai: The Reserve Bank of India has decided to introduce
foreign currency-rupee options for hedging currency exposures
in the forex markets.
Back
to News Review index page
United
India to vend vanillas via banks
Chennai: The United India Insurance Company Ltd, one
of the four public sector non-life insurance majors headquartered
at Chennai, has decided to out-licence its vanilla products
to various banks across the country.
Back
to News Review index page
S&P
upgrades Tata Engg to stable
New Delhi: Standard & Poor's Ratings Services
has revised the outlook on its `BB-' rating for Tata Engineering,
to stable from negative.
Back
to News Review index page
Andhra
Bank pact with United India
Hyderabad: Andhra Bank has announced that it has received
the licence of the Insurance Regulatory and Development
Authority (IRDA) to act as a corporate agent for procuring
or soliciting insurance business of United Indian Insurance
Company.
Back
to News Review index page
Rabo
India gets $25 m from parent
New Delhi: Rabobank Nederland has injected fresh capital
of $25 million into
Indian subsidiary Rabo India. With this, the current shareholding
in the Indian venture as gone up to 100 per cent from
the earlier 75 per cent.
Back
to News Review index page
Govt
to issue 6.5 per cent tax-free savings bonds
New Delhi: The Government on Thursday announced the
decision to launch 6.5 per cent tax-free savings bonds
(2003) with effect from March 24.
Back
to News Review index page
ICICI
Bank bonds sale
Mumbai: ICICI Bank is launching a retail issue of
bonds, including a tax-saving one, on March 15. The bank
has, however, pared the interest rate on the bonds —
tax-saving and regular income — to 6.75 per cent.
Back
to News Review index page
|
