The Hindu Business Line : Thursday, January 24, 2002

Rupee range-bound; securities weak
MUMBAI: THE rupee firmed up by one paise on Wednesday to close at 48.27 as compared to Tuesday's close of 48.28 in a range-bound forex market. The rupee opened at 48.2750/2850. "There were some bunched up supplies that came in on account of ... More

Course in forex management
BANGALORE: ICFAI Business School and Union Bank of India Staff College have struck an alliance to launch a series of management development programmes for working executives and entrepreneurs. As a first step, the alliance started a ... More

NBFCS

Nidhi company enters 120th year
IN the financial sector, it is conservatism that leads to stability. The nidhis of South India, the oldest form of institutionalised banking in the country, have consistently proved this point. The 200-odd nidhis in the country do about Rs ... More

HOUSING FINANCE

Corpbank Homes profit up
MANGALORE: Corpbank Homes, a wholly-owned subsidiary of Corporation Bank, has registered cumulative sanctions of Rs 172.17 crore and cumulative disbursements of Rs 155.78 crore as of the end of December 2001. The sanctions and ... More

NHB reduces refinance rates

GENERAL INSURANCE

`To be big, one has to be diversified' -- Mr Dalip Verma, MD, Tata AIG General Insurance
IF `private' meant a penchant for being elite, then that is not the dominant flavour of the sales portfolio of the nine-month old Tata AIG General Insurance Company Ltd, which has sold about 50,000 policies so far. "We will not have more than ... More

HDFC insurance tie-up with US co
HOUSING Development Finance Corporation Ltd (HDFC) is to set up a joint venture company with the US-based Chubb Global Financial Services Corporation for the business of general insurance, subject to the Insurance Regulatory and Development ... More

KTDC insurance scheme for tourists
IN an innovative move, Kerala Tourism Development Corporation (KTDC) has announced a comprehensive insurance package for tourists visiting the State. Announcing the insurance package on Wednesday, the Tourism Minister, Prof K.V. Thomas, said ... More

PUBLIC SECTOR BANKS

Corpn Bank to study scope for VRS
CORPORATION Bank Ltd is exploring the scope for a voluntary retirement scheme (VRS). The bank has decided to appoint a committee of general managers for the purpose. This follows a demand by some employees for a VRS, as they felt that they had ... More

Corpn Bank Q3 net up 10.24 pc
MUMBAI: The Mangalore-based Corporation Bank has recorded a 10.24 per cent rise in net profit for the quarter ended December 31, 2001, at Rs 91.45 crore as compared to Rs 82.96 crore in the corresponding period in the previous ... More

Andhra Bank turnover, net up
HYDERABAD: Andhra Bank has posted a total income of Rs 575.41 crore, operating profit of Rs 125.89 crore and a net profit of Rs 46.78 crore for the third-quarter of the current fiscal ended December 31, 2001, as against a turnover of Rs ... More

SBI branch at Gurgaon

FOREIGN BANKS

BNP Paribas to focus on asset management
AS part of its two-fold strategy in India, BNP Paribas is looking at focussing on new opportunities emerging in the areas of asset management and consumer finance. The Chief Executive and Country Manager, BNP Paribas, Mr Jonathan David Lyon, ... More

Citibank branch in Coimbatore

FINANCIAL INSTITUTIONS

FIs may hire sleuths to track funds diversion
STEPPING up their offensive against deviant borrowers, financial institutions (FIs) have decided to engage the services of private investigators to track down instances of diversion of funds by promoters. FIs feel that the fear of sleuths ... More

Confidentiality agreement for Enron bidders
PARTIES interested in buying Enron's stake in Dabhol Power Company (DPC) will have to sign a confidentiality agreement "not later than" February 1 or 2 to ensure that due diligence ends on schedule, Mr P.P. Vora, Chairman, IDBI, told Business ... More

PNB Gilts net up
NEW DELHI: PNB Gilts Ltd has registered net profits of Rs 83.62 crore for the first nine months of 2001-02 compared to Rs 18.85 crore for the same period last year. However, net profits for the three months ended December 2001 ... More

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