7 february 2004

restrictions on fema transactions lifted
new delhi: the government has decided to remove a number of restrictions on current account transactions under the foreign exchange management act to bring down the transaction cost for citizens and corporates.

moody's raises forex ratings of indian banks, fis
london: moody's investors service has changed the outlook for the long-term foreign currency deposit ratings of a number of indian banks - currently rated ba2 - to stable from the negative outlook for india.

rbi eases import bills norms
mumbai: with a view to simplifying and liberalising the procedure for imports, rbi has raised the prescribed limits of $10,000 and $25,000 for such direct receipt of import bills or documents uniformly to $100,000 or its equivalent.

sbi life launches sanjeevan supreme plan
mumbai: sbi life insurance has launched sanjeevan supreme, a product that combines the benefits of limited premium payment option with money back.

sbi codifies credit policy
mumbai: in a bid to refine standards of customer service and transparency, the country's biggest bank, state bank of india, has codified the principles governing its lending policy.

6 february 2004

vs vyas to head rbi agri-credit committee
mumbai: the reserve bank of india (rbi) on thursday constituted an advisory committee on the flow of credit to agriculture and related activities from the banking system.

moody's revises ratings of indian banks
london: moody's investors service has changed the outlook for the long-term foreign currency deposit ratings of a number of indian banks - currently rated ba2 - to stable from the negative outlook for india.

f-ins platform for insurance firms
hyderabad: fast forward technologies, a singapore-based software solutions provider for financial and insurance sector with a development cum support centre in hyderabad, has announced the development of a framework termed f-ins that enables insurance companies and its stakeholders bring in efficiencies.

icici pru life's income crosses rs 1,000 crore
bangalore: icici prudential life insurance company's premium income has crossed rs 1,000 crore for the first nine-month period of the current financial year.

revised irda norms for life products
hyderabad: the insurance regulatory and development authority has come out with revised guidelines pertaining to the design of life insurance products.

sidbi approaches world bank for $200-million loan
chennai: the small industries development bank of india (sidbi) is in talks with the world bank for a $200-million (about rs 900-crore) soft loan. the loan will augment the bank's lendable resources and, being a soft loan, also lower the cost of borrowing.

5 february 2004