The Hindu Business Line : Saturday, August 10, 2002

Banks rescheduling farm loans
BANKS have begun work on restructuring and rescheduling agricultural advances in regions affected by the current drought. This is in line with Reserve Bank of India's (RBI) directives. Banking sources said here that this move would now mean ... More

ACCOUNTING STANDARDS

Nabard, German body to develop accounting norms for co-op banks
NATIONAL Bank for Agriculture and Rural Development (Nabard) and German Co-operative Raiffeisen Confederation (DGRV) are jointly developing a common accounting system for co-operative banks. "Nabard hopes to obtain DGRV's collaboration on the ... More

FOREX

Rupee stable; bonds decline
MUMBAI: THE rupee closed on Friday at 48.6525 against the dollar compared to Thursday's close of 48.65/66 in the forex market. "There were short coverings by banks in the earlier half of the day. Some corporates were also seen buying,'' said a ... More

RBI eases norms for forex dealers
THE Reserve Bank of India (RBI) has permitted authorised dealers to maintain foreign exchange open positions in their foreign exchange exposures, representing the mismatch between foreign currency purchase and sales as also balance sheet ... More

LIFE INSURANCE

LIC's monopoly intact, says workers' federation
THE entry of private players into the insurance fray has not affected the business monopoly of Life Insurance Corporation (LIC), according to the National Federation of Insurance Field Workers of India. In the last two years since the entry of ... More

PRIVATE BANKS

IndusInd to open 2 more branches in Chennai
INDUSIND Bank plans to open two more branches and at least six ATMs in Chennai, the bank's Vice-President and Branch Head, Mr Sanjeet K Anand, told Business Line today. An application would be made to the Reserve Bank of India for the ... More

Cross-selling, the new mantra for pvt banks
CROSS-selling is a concept all private sector banks seem to be harping on, but is it worth all the din? Retail banking being the new mantra for all private sector banks, cross-selling - selling of products/services to an already existing ... More

Karnataka Bank review meeting
THE Chairman of the Mangalore-based private sector Karnataka Bank, Mr Ananthakrishna, has called upon the regional heads of the bank to gear up to face `the increasing competition and emerging challenges' in the banking sector by `harnessing ... More

PUBLIC SECTOR BANKS

Corpn Bank pays Rs 32.8 crore as dividend to Govt
THE Chairman and Managing Director of Corporation Bank handed over a dividend cheque for Rs 32.80 crore to the Union Minister of State for Finance, Mr Anantha Geethe, at a ceremony held in New Delhi. The dividend for the financial year ended ... More

SBH to unveil new package for SMEs
STATE Bank of Hyderabad (SBH), the leading associate bank of State Bank of India, is piecing together a new scheme for the small and medium enterprise (SME) segment. According to Mr Rajendra Kakker, SBH's Managing Director, the scheme would be ... More

Union Bank plans branches in Gulf
UNION Bank of India, which does not have any foreign branch, is planning to open representative offices in Muscat (Oman) and Dubai (UAE) to serve NRI accounts better. Giving this information to Business Line here on Thursday, Mr M. ... More

SECURITISATION

Mortgage-backed securities begin to gain acceptance
MORTGAGE-BACKED securities (MBS) are finally getting their place in the sun, even if it is in part due to the huge liquidity overhang in the debt markets. Debt markets are witnessing substantial activity in MBS, primarily propelled by fresh ... More

FIXED DEPOSITS

ICICI Bank cuts NRE term deposit rates
ICICI Bank has cut non-resident external (NRE) term deposit rates by 50-100 basis points for various maturities, with effect from August 8. On deposits up to Rs 15 lakh, for a maturity period of six months to one year, the rate is now seven per ... More

CO-OPERATIVES

RBI move to strengthen MIS of co-op banks
IN a bid to strengthen the management information system (MIS) of co-operative banks, the Reserve Bank of India has set in motion a technical assistance programme. The programme would focus on strengthening the MIS in co-operative banks by ... More

TRENDS

Bankers going back to basics
BANKERS are quietly going back to the basics of building an asset portfolio in the current year, having lost the comfort of trading profits which played up balance sheets over the last two years. A top banker in a nationalised bank admitted to ... More

KCCI initiative on coin shortage
IN view of the shortage of coins affecting the business community in Mangalore, the Kanara Chamber of Commerce and Industry (KCCI) in association with the Reserve Bank of India as well as banks in Mangalore and Udupi will help in the distribution ... More

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`Disk storage market grew 64 pc in 2001'

Cross-selling, the new mantra for pvt banks

Mortgage-backed securities begin to gain acceptance

Dry spell may hit cotton

HPCL says not interested in MRPL preferential offer

In Depth
Gender Justice

Simple Economics

Small Investor

Looking back
Jul. 28-Aug. 3
Allahabad Bank to cut lending rates

RBI makes lending rate disclosure mandatory

Q1 profit numbers muted for PSBs

The more unhealthy, the merrier

Insurers putting away Janata cover

Will truck finance give banks the mileage?

Tax-free bonds look appetising

Low-cost bank loan scheme for engg students on cards

IOB keeping options open on second VRS