India Unlimited: Investors conference in Singapore
Mumbai: Disinvestment minister Arun Shourie will address representatives of 120 global funds who have signed up for India Unlimited, ICICI Securities' annual investor conference at Singapore. The success of the largest ever disinvestments of government undertakings will be the theme of the third edition of the conference.

Over 120 global funds have signed up for 'India Unlimited', The fund brigade will be led by the Capital Group, Government of Singapore, Morgan Stanley, JP Morgan, UBS, Temasek, Fidelity and others. 40 Indian companies, which account for almost 60 per cent of the Bombay Stock Exchange market capitalisation, will also be present. The Indian companies would include the Tatas, Reliance, Hindustan Lever, Infosys, Wipro, Mahindra & Mahindra, State Bank, ONGC, GAIL and others.
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RBI: Transparency in interest rates
Mumbai: The Reserve Bank of India, Governor Y V Reddy has asked banks to be more transparent on interest rates charged to borrowers which should be based on individual credit risk assessment rather than deal with them on a category-wise basis. He has also asked banks to provide priority to customer service and to reduce their transaction costs as well as procedural inconveniences to the customers as a matter of priority.
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RBI: Relationship managers for banks
Mumbai: The Reserve Bank of India is considering appointing relationship managers, would deal with queries that the bank may have and co-ordinate with the regulator to address them. The project would be taken up on a pilot basis. The apex bank is also considering developing a mailbox concept to store clarifications given by it to individual banks so that other banks could access the same, a press release issued by the RBI has said.

The RBI Deputy Governor, Ms K.J. Udeshi, has expressed concern over banks sharing customer data with associates and banks offering to sell products through lottery-like schemes.
With reference to the Basel committee on Banking Supervision Ms Udeshi stated that the bigger and internationally active banks should consider investing in technology and develop skills to meet the challenges of the new Basel Accord. The Basel II norms are due to be implemented by the end of 2006. These norms are intended to strengthen the capital structure of banks round the world.
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BOB: A+ rating for Tier II subordinate bond issue
Mumbai: According to a press release CARE has assigned a `CARE A+' to the proposed Tier II subordinate bond issue of Bharat Overseas Bank Ltd for Rs 40 crore. It has also assigned a `PR1+' rating to the short-term deposit programme for Rs 50 crore. The rating takes into consideration the longstanding profitable overseas operations of the bank, stable return on assets driven by steady revenue streams, relatively low NPA levels and strong capital adequacy.
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