The Hindu Business Line : Tuesday, September 10, 2002

Experiment in LAB unsuccessful
THE RBI has set up a committee to review the working of Local Area Banks (LABs) as the experiment, introduced by Mr. P. Chidambaram, former Finance Minister, has not been particularly a success. RBI gave `in principle' okay to 10 LAB licences of ... More

FOREX

Rupee up 9 paise; gilts range-bound
Mumbai: THE rupee on Monday closed 9 paise stronger at 48.50/51 against the dollar as compared to Friday's close of 48.5925/60 in the forex market. There was all round selling interest in the market, adding to the unabated inflow of the ... More

Forex release norms relaxed
THE Reserve Bank of India (RBI) has permitted banks to release up to $500 worth of foreign exchange on the basis of a simple letter from resident individuals. The letter must provide basic information such as name and address of the applicant, ... More

HOUSING FINANCE

Corpn Bank to expand home loan portfolio
CORPORATION Bank has decided to push its home loan schemes on the basis of its "attractive interest rates''. The bank expects to record good volumes in the home loan segment during the remaining part of the current fiscal. Mr K. Cherian ... More

GENERAL INSURANCE

Reinsurance rate hike may drive up project premiums
DOMESTIC project insurance premiums are likely to face further rise with a hardening of reinsurance rates worldwide. Industry sources said here that this was a direct result of the large underwriting losses suffered by the world's largest ... More

CREDIT RATING

Godrej & Boyce CP gets `P1'
CRISIL has assigned a rating of `P1' for the Rs 60-crore commercial paper (CP) programme of Godrej & Boyce Manufacturing Company Ltd. The rating reflects the company's continuing financial flexibility that is supported by the strong asset ... More

HUMAN RESOURCES

Banking on HR initiatives
With the changing times, bank managers need to spend more time developing business and servicing clients than sorting out such issues as who will fill up cash in ATMs or who among the clerks will operate the passbook printer. More

PRIVATE BANKS

South Indian Bank `privilege card'
BLENDING tradition with technology, the South Indian Bank has introduced a multi-purpose card named `SIB Privilege Card' for its customers. The card will not only serve as an ATM card but also for anywhere banking at networked on-line branches ... More

PUBLIC SECTOR BANKS

Bank of India corporate banking branch at Coimbatore
BANK of India has embarked on a project of establishing `corporate banking' branches to cater to the needs of its corporate clientele. It has established such exclusive boutiques in eight places — New Delhi, Kolkata, Chennai, Mumbai, ... More

Write to United Bank CMD...
ARE you a customer of United Bank of India? Facing problems? Then shoot a letter directly to the CMD of the bank. Your grievance will be redressed within 15 days, no matter where you are, in Delhi or in Dimapur. "I personally go through each ... More

Bank wage talks to kick off soon
THE battle lines have been drawn for the eighth bipartite wage settlement in the public sector banking industry. The Indian Banks' Association (IBA) and the unions under the umbrella United forum of Bank Unions (UFBU) are preparing to initiate ... More

Central Bank spots `excess manpower'
There is an air of unease among the staff. They perceive this study as a prelude to the second VRS in the bank. More

CO-OPERATIVES

Co-op banks in Gujarat — A crumbling edifice
The customer would not be too interested in the post-mortem that invariably follows a particular bank collapse. What is of paramount importance is how another debacle like the one that hit the Surat Urban Co-operative Bank, can be averted. More

AP co-op bank licence cancelled
THE Reserve Bank of India (RBI) has cancelled the licence of Andhra Pradesh-based Armoor Co-operative Urban Bank Ltd, to carry on banking business. The bank has been prohibited from transacting the business of banking as defined in the Banking ... More

PEOPLE

Rakesh Mohan takes over as RBI Deputy Governor
DR Rakesh Mohan today took over as the Deputy Governor of Reserve Bank of India. Dr Mohan has been appointed or three years in the place of Dr Y.V. Reddy, who served a five-year term. Mr Reddy has been appointed as the Executive Director of ... More

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Mirror site helps breach Chinese firewall

Co-op banks in Gujarat — A crumbling edifice

Can Indian agriculture become globally competitive?

As China booms and preys, Hong Kong rues lost business

Corporate tax collections up 45%

Experiment in LAB unsuccessful

In Depth
Gender Justice

Simple Economics

Small Investor

Looking back
Sep. 1-Sep. 7
Private insurers begin rural invasion

`Limitation clause may hit NPA recovery'

StanChart, Grindlays merger completed

`Bank rate cut will not exceed 50 basis points'

25 is `right age' to plan for retirement

LIC in talks with States for pensions for underprivileged

PSU insurance cos cancel long-term accident schemes