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Dollar
weakness has not hit exports, says Rakesh Mohan
Mumbai: The RBI deputy governor Rakesh Mohan said
that there were no signs as yet to say there was negative
impact of the beating taken by the US dollar against other
major global currencies, in the wake of Iraq war, on the
country’s export competitiveness and the level of
its forex reserves.
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Infrastructure
sector to be growth driver, says Crisil
Mumbai: The continuing investment in the infrastructure
sector will provide the much-needed push to the country’s
industrial economy over the next two years even as the
ongoing war in Iraq has introduced a new uncertainty in
the economic environment, said Crisil.
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Fitch
gives top rating to HDFC Bank deposits
New Delhi: Fitch Ratings India has assigned the highest
rating of ‘tAAA(Ind)’ to HDFC Bank Ltd’s
deposit mobilisation programmes.
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Banks
allowed to issue guarantees favouring other lending bodies
Mumbai: The Reserve Bank of India has allowed the
banks to issue guarantees favouring other banks/ FIs/
other lending agencies for the loans extended by the latter,
subject to compliance with conditions.
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No
evidence to relate arbitrage to higher forex
Mumbai: The Reserve Bank of India on Monday
said there is no evidence to show that ``arbitrage'' has
contributed to the higher accretion of foreign exchange
reserves in 2002-03.
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LIC
Housing Fin loan disbursement at Rs 2,941 crore
New Delhi: LIC Housing Finance Ltd sanctioned 84,126
loans for an amount of Rs 3,265.78 crore and disbursed
76,663 individual loans for an amount of Rs 2,941.24 crore
during the financial year ended March 31.
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Union
Bank plans foray into West Asia, China
Mumbai: Union Bank of India is set to create its first
base abroad. The premier public sector bank that has till
now been physically confined to the borders of the country
is exploring the possibility of setting up branches and
offices in West Asia and China.
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UCO
Bank posts 20 pc growth
Mumbai: UCO Bank posted more than 20.5 per cent growth
in business in 2002-03, according to a press release issued
by the bank. The total business at Rs 48,500 crore showed
a growth of Rs 8,275 crore as compared with Rs 8,014 crore
in 2001-02.
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IRDA
seeks details on investments by insurers
New Delhi: In view of the prevailing market conditions
that lead to defaults even by issuers of government-guaranteed
debt instruments, the Insurance Regulatory and Development
Authority (IRDA) has sought details of investment portfolios
of various
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