The Hindu Business Line : Saturday, January 12, 2002

Re sheds 6 paise; gilts down
MUMBAI: THE rupee closed at a new low on Friday at 48.41/42 per dollar, weaker by around six paise, as compared to the previous close of 48.3550/3650 in a volatile forex market. The rupee opened at 48.3550/37 against the dollar, and started ... More

HOUSING FINANCE

HDFC Q3 profit rises to Rs 121 cr
HOUSING Development Finance Corporation Ltd (HDFC) on Friday reported a higher net profit of Rs 121.01 crore for the quarter ended December 31, 2001, as against Rs 99.25 crore in the previous corresponding period. Income from operations for ... More

GIC Housing Fin cuts interest rates
ARMED with the newly announced reduced interest rates, GIC Housing Finance Ltd (GICHFL) is focussing on improving its market share. Company sources said that with effect from January 9, the interest rate for loans up to Rs 50 lakh was 12.25 per ... More

Citibank housing portfolio grows to Rs 1,200 cr
CITIBANK'S housing loan portfolio has increased 40 per cent to Rs 1,200 crore, the bank's Global Consumer Bank Head, Mr Sarvesh Sarup, told Business Line. He said that the bank, which was looking to step up this business, would also ... More

SBI union decries scaling down of Home Fin operations
THE All-India State Bank Officers' Federation (AISBOF) has opposed the scaling down of operations of SBI Home Finance Ltd, the housing finance subsidiary of State Bank of India. The bank had directed its subsidiary not to accept deposits or ... More

LIFE INSURANCE

ING Vysya Life rural policy awaits nod
ING Vysya Life Insurance Company Ltd will launch a rural endowment plan aimed at the rural customer shortly. Called `Securing Life', the product, which is pending approval with the Insurance Regulatory Development Authority (IRDA), would offer ... More

TCS in talks with LIC for joint venture
The idea is to leverage LIC's expertise in finance, especially insurance, and the technological skills of a company like TCS. The company is expected to hawk insurance solutions, initially in the domestic market, but later on across the globe. More

Customer relations get face-lift at LIC
THE Customer Relationship Management set-up at the Life Insurance Corporation of India (LIC) is undergoing an overhaul. As part of the revamp, `CRM Committees' are being constituted in various zones to discuss and address customers' grievances. ... More

RBI & OTHER CENTRAL BANKS

Technical hitches stall RBI's dealing system
THE negotiated dealing system (NDS) of the Reserve Bank of India, which was expected to go live by January 15, has been delayed. The NDS is now expected to become active only by mid-February. The system required a critical number of ... More

PRIVATE BANKS

Karnataka Bank group cover for staff
MANGALORE: The Mangalore-based Karnataka Bank has introduced a `group savings linked insurance scheme' for its staff members at all levels. The facility has five slabs: Rs 1.5 lakh for executives, Rs 1 lakh for officers, Rs 80,000 for ... More

RBI clears Lord Krishna Bank rights
NEW DELHI: Lord Krishna Bank has received the Reserve Bank of India's clearance for its proposed Rs 36-crore rights issue. The issue will open on January 21 and close on February 20. The rights issue is being offered at a premium of Rs ... More

South Indian Bank payment facility
KOCHI: The Thrissur-based South Indian Bank Ltd has launched an innovative product — Siber Junction — in association with Bill Junction Payments Ltd to facilitate bill payments for the bank's customers. This is an online ... More

FOREIGN BANKS

Citibank `No 1' cash management provider

TRADE & LABOUR UNIONS

Unions' response to `strike of irrelevance'
This is with reference to the editorial, ``Strike of Irrelevance'' (January 7): The all-India bank strike was called by the All-India Bank Employees' Association as Standard Chartered Bank had, in violation of binding provisions of Para 536 of ... More

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