The Hindu Business Line : Tuesday, October 01, 2002

SHCIL gives more leeway to Haribhakti
STOCK Holding Corporation of India Ltd (SHCIL) has given more room to Haribhakti and Co ``to dig out the truth'' in the case involving SHCIL and IndusInd Bank, according to Mr K.C. Bandhopadhyay, its new chief. The firm has been retained by ... More

FOREX

Software, pvt transfers boost current a/c
THE country has reported a provisional current account surplus for the third consecutive quarter, clocking a surplus of $ 325 million for the period April to June, 2002, this chiefly led by software exports and private transfers. The Reserve ... More

NBFCS

E&Y appointed Tata Fin internal auditors
ERNST & Young had been appointed the internal auditors of Tata Finance Ltd (TFL), its Chairman, Mr Ishaat Hussain, said at the company's AGM here today. Explaining this, a company official later told Business Line that Ernst & Young did ... More

Maharashtra, UTI to divest 26 pc stake in SICOM
THE Government of Maharashtra and Unit Trust of India will together divest 26 per cent stake in SICOM Ltd; KPMG has already been entrusted with arranging this deal, according to Mr R.D. Pradhan, Chairman, SICOM. He told a news conference here ... More

PRIVATE BANKS

Catholic Syrian ties up with NCR for ATMs
THE Thrissur-based Catholic Syrian Bank has tied up with NCR Corporation, Mumbai, for its on-line touch screen automated teller machine project. The project, in its first phase envisages installation of ATMs at 50 locations spread across the ... More

`Kerala big thrust area for Centurion Bank'
In a move meant to help the pilgrims visiting the Srikrishna temple at Guruvayur, the bank has installed coin dispensing machine at the temple premises, the first of its kind in Kerala. More

Karnataka Bank pact with MetLife
BANGALORE: The private sector Karnataka Bank has signed an agreement with MetLife India for distribution of insurance products as a corporate agent. This allows MetLife to take the bancassurance route for selling life insurance ... More

PUBLIC SECTOR BANKS

Corpn Bank adds one more ATM
AS part of its ongoing technology initiative, the Mangalore-based public sector Corporation Bank has operationalised yet another automated teller machine (ATM) — its 222nd — in Nagpur. The bank has also shifted its Nagpur branch to ... More

Andhra Bank raises Rs 140-cr debt
ANDHRA Bank has raised subordinated debt of Rs 140-crore. The move is said to be aimed at augmenting its capital adequacy ratio amidst plans for inorganic growth via acquiring a bank shortly. The bank's top brass is tight-lipped over the media ... More

FINANCIAL INSTITUTIONS

IDBI redeems $250-m FRNs
IDBI has redeemed floating rate notes (FRN) for $250 million, around Rs 1,210 crore, raised in 1995. IDBI today said the FRNs have been redeemed on September 25, a day ahead of its due date. The institution said it enjoys a comfortable ... More

GOVT BONDS

Trading in gilts dull
Mumbai: THE debt market was seen to be very dull on Monday with hardly any trading on account of most market players closing their books for the half yearly results. Prices were seen to be highly range-bound with 0-4 paise movement across ... More

CORPORATE BONDS

OM Kotak relaunches insurance bond plan
OM Kotak Mahindra has relaunched its Kotak Insurance Bond (KIB) plan after realigning interest rates to keep in sync with the current market scenario. The returns have been aligned to keep pace with changing market interest rates which have ... More

SHORT TERM INSTRUMENTS

MTR Foods CP gets `A1' rating
ICRA has accorded `A1' rating to the Rs 5-crore commercial paper programme of MTR Food Ltd, indicating highest safety in the short term. The rating is based on the company's established position in the packaged foods business which derives ... More

TRADE & LABOUR UNIONS

Dissenting bank unions may join wage talks
SHEDDING their three-year long disagreement over the seventh bipartite wage settlement, the two dissenting bank unions - the Bank Employees Federation of India (BEFI) and the National Organisation of Bank Workers (NOBW) - are all set to join the ... More

Eighth bipartite wage settlement — IBA places counter-demands
THE bipartite discussion for wage revision of bank employees, due to begin later next month, looks to become a protracted affair with the Indian Banks Association (IBA), the umbrella organisation of bank managements, placing a set of ... More

TRENDS

Non-food credit triples in first five months
NON-FOOD credit has almost tripled in the first five months of the current fiscal as compared to the same period in the previous year. According to RBI sources, incremental non-food credit up to the first week of September amounted to Rs ... More

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Four Ranbaxy products go over-the-counter

Dissenting bank unions may join wage talks

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Low FDI reflects investment trend: Experts

Sub-standard seafood units must go — MPEDA Chairman warns of suspension

In Depth
Gender Justice

Simple Economics

Small Investor

Looking back
Sep. 22-Sep. 28
NCAER concern over cost of high forex reserves

IRDA fiat on third-party cover `hurting' non-life insurers

Eighth bipartite wage settlement — IBA, union talks on Oct 18

Rules notified for NPA sale — Banks now better equipped to pursue loan defaulters