|
NRIs
barred from investing in small savings schemes
New Delhi: Barely a fortnight after capping interest
rates on non-resident external (rupee) (NRER) deposits
to a maximum of 250 basis points above LIBOR, the Government
has closed yet another avenue for arbitrage opportunities
arising from the wide difference in interest rates offered
here and those prevailing overseas.
Back
to News Review index page
Varishtha
Pension plan — Jaswant wants better response from
rural areas
New
Delhi: The Varishtha Pension Bima Yojana (insurance
scheme for senior citizens) recently launched by the Government
has a head-start with one-third of one-lakh subscribers
already being roped in, the Lok Sabha was informed today.
Back
to News Review index page
RBI
uneasy over unhedged dollar exposures
Mumbai: Bankers are worried over corporates refusing
to hedge their dollar exposures, as under the present
regime, the total exposure of any single corporate is
hard to quantify, with each enterprise having many banks
on their books.
Back
to News Review index page
PFC
net at Rs 870 crore
New Delhi: Power Finance Corporation (PFC) has
recorded a net profit of Rs 870 crore on an income of
Rs 1,408 crore for the first quarter of the current fiscal
ended June 30, 2003.
During the corresponding period last year, the company
has registered a net profit of Rs 391 crore on an income
of Rs 746 crore.
Back
to News Review index page
Nabard
loan for projects
Hyderabad: The National Bank for Agriculture and
Rural Development (Nabard) has sanctioned an amount of
Rs 325.41 crore as loan assistance to the Andhra Pradesh
Government for implementation of AP Micro Irrigation Project,
14 minor irrigation schemes and two comprehensive protected
water supply schemes.
The loan has been sanctioned
Back
to News Review index page
SBM
cuts floating home loan rates
Bangalore: State Bank of Mysore has reduced the
interest rates on floating rate home loans to 8 per cent
for maturities up to five years.
A
bank release said for maturities up to 10 years, the rates
would be 8.75 per cent on a floating rate basis and for
above 10 years, 9.25 per cent. The fixed rate housing
loans remained unchanged. Farm lending rate up to Rs 50,000
was lowered to 9 per cent.
Back
to News Review index page
|
