The Hindu Business Line : Thursday, June 27, 2002

Re up 4 paise; gilts rise
Mumbai: THE rupee on Wednesday closed stronger by four paise at 48.8650/8750 against the dollar as compared to Tuesday's close of 48.9050/91 in a supply driven forex market. Forex dealers said that the market continued to be flushed with dollar ... More

HOUSING FINANCE

Oriental Bank cuts home loan rates
ORIENTAL Bank of Commerce (OBC) has reduced its interest rates further on housing loans. In a press release here, the bank said the revised rates of interest were applicable for both the existing as well as fresh loans. The interest rates ... More

PRIVATE BANKS

IDBI Bank in pact with MTNL for bill payment
IDBI Bank has entered into a tie-up with MTNL in Delhi to enable the account holders of the bank to pay their phone bills through ATMs and Internet. IDBI Bank has 42 ATMs in Delhi. "We are one of the few banks to offer this service,'' Mr Gunit ... More

PUBLIC SECTOR BANKS

SBI appoints consultants to revive US operations
IN a bid to restart its operations in the US, the State Bank of India (SBI) has appointed two leading global consultants for working out the necessary action plan. According to Mr A.K. Batra, Deputy Managing Director in charge of International ... More

FOREIGN BANKS

StanChart net rises 107 pc
STANDARD Chartered Bank in India has announced a 107 per cent rise in net profit to Rs 384.6 crore for the year ending March 31, 2002 compared to Rs 185.4 crore in the previous year. "We attribute our growth in this dull year to our success in ... More

INTEREST RATES

Karnataka Bank cuts rates on loans
IN what the bank describes as `a user-friendly move to make credit products more affordable and attractive to clients', the Mangalore-based private sector Karnataka Bank has cut interest rates by 1 to 3 per cent on all schematic loans and ... More

CREDIT CARDS & DEBIT CARDS

Andhra Bank may launch debit card with Visa tie-up
AS a part of its technology initiatives, Andhra Bank, the Hyderabad-based Rs 25,500-crore public sector bank, interconnected all its 75 ATMs here on Wednesday. Speaking on the occasion, the Andhra Bank Chairman and Managing Director, Mr B. ... More

TRADE & LABOUR UNIONS

Bank union calls for strike today
THE United Forum of Bank Unions (UFBU) has given a one-day strike call on June 27, to protest against the increasing attacks on jobs and job security in banks. According to Mr C.H. Venkatachalam, Convenor, UFBU, all bank employees had decided ... More

PERFORMANCE

Sensitive sector exposure up 23 per cent in 2001-02
PUBLIC sector banks saw a 23 per cent increase in their lending exposure to sensitive sectors during April 2001-March 2002. [Sensitive sectors are officially recognised as high-risk areas. Currently, lending to real estate (i.e., loans for ... More

NEW PRODUCTS & SERVICES

ICICI Pru Life unveils new product
ICICI Prudential Life Insurance has launched a term insurance product called `LifeGuard Level Term Assurance'. The new product is `competitively priced' and can be purchased for a premium of Rs 2,400 per annum by individuals between the ages of ... More

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