Financial Daily from THE HINDU group of publications
Tuesday, September 03, 2002
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Financial Daily from THE HINDU group of publications Tuesday, September 03, 2002 |
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MONEY & BANKING FOREX Re strengthens; gilts rise MUMBAI: THE rupee closed on Monday at 48.4750/48 against the dollar as compared to its previous close of 48.4950/5000 in the forex market. Accumulated dollar supplies came into the market. To add to the good supply, there was all round selling on ... More SOFTWARE 
IBM Global, i-flex bag banking projectIBM Global Services, the services arm of IBM India Ltd, will implement the centralised banking solution in Bharat Overseas Bank (BOB) Ltd. IBM Global will partner with i-flex Solutions Ltd to implement their core banking solutions, Flexcube, ... More HOUSING FINANCE SBI to focus on Kerala home loan segment STATE Bank of India (SBI) is concentrating on the home loan market of Kerala, having slashed its interest rates to one of the lowest in the country. In addition, the bank is also offering a festive bonanza, including special concessions to all ... More LIFE INSURANCE LIC scheme for Corp Bank a/c holders LIFE Insurance Corporation of India (LIC) has finalised a scheme, `Corp Jeevan Raksha', to provide group insurance coverage to all deposit holders of the Corporation Bank. This scheme will be applicable to all personal account holders of the ... More
LIC unit pact with 3 pvt cos GENERAL INSURANCE Motor insurance tariff deregulation on cards A MOVE is on to deregulate motor insurance tariff. The Insurance Regulatory and Development Authority (IRDA) has asked the Tariff Advisory Committee (TAC) to bring out a white paper on `de-tariffing' the motor insurance sector. At present all ... More
Public insurers shy away from State transport cover PRIVATE BANKS Retail thrust has paid dividends: UTI Bank chief THREE years ago, the UTI Bank was predominantly a corporate bank, when, like most other commercial banks, it decided that it needed a course correction. Thus began an era of retail thrust. Now, looking back, the retail focus has put the bank in a ... More PUBLIC SECTOR BANKS Canara Bank plans coin counters BANGALORE: Canara Bank has launched a nationwide awareness drive on coins starting with Bangalore, Chennai, Hyderabad and Kozhikode. A mobile counter stationed at bank branches in prominent places will dispense coins of Re 1, Rs 2 and ... More FINANCIAL INSTITUTIONS IFCI assets may go to lenders THE bail-out package for IFCI Ltd is likely to involve a large-scale takeover by other banks and financial institutions of its critical liabilities. The takeover of liabilities would be balanced out by the transfer of equivalent amounts of IFCI's ... More
Return Rs 600 cr to Govt ahead of public offer, PFC advised GOVT BONDS Orissa to issue bonds to raise Rs 350 crore THE Housing and Urban Development Department of the Government of Orissa has launched a major project for sewerage improvement in Cuttack, Puri, Bhubaneswar, Rourkela, Sambalpur, Berhampur and Anhul, by raising funds from the market through ... More CORPORATE BONDS L&T raises Rs 65 cr thru 10-year paper LARSEN & Toubro has raised Rs 65 crore through issue of 10-year secured bonds at a coupon of 8.25 per cent payable annually. The company said it has set up a new corporate price benchmark in the bond markets through this issue; it said the ... More MERGERS & ACQUISITIONS StanChart, Grindlays merger completed The first phase of integration between the two entities involved people integration, followed by systems integration, and thirdly, the liability/deposit transfers. More ALLIANCES & JOINT VENTURES Srei in securitisation pact with ICICI Bank The company is hopeful of a 25 per cent growth in business during the first half of the current financial year (which will end on September 30, 2002). More PEOPLE Citibank appoints new CEO for subcontinent CITIBANK on Monday announced that Mr Sanjay Nayar would take over as CEO and Business Head of Citibank's integrated operations in India, Sri Lanka, Bangladesh and Nepal. Mr Nayar will take over on October 1 from Mr Nanoo G. Pamnani, the current ... More
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Top Stories In Depth Gender Justice Simple Economics Small Investor Looking back Aug. 25-Aug. 31 RBI Web site to detail gilt deals soon Insurance industry in crisis: IRDA chief Rs 1.5 lakh cr locked up in litigations RBI may permit banks to issue standby LCs New IRDA motor norms may add to insurance cos' woes Solar-powered ATMs? Why do banks neglect the farm sector? RBI annual report 2001-2002 — Economic climate may force RBI to change stance |
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