The Hindu Business Line : Tuesday, November 12, 2002

The rupee goes from strength to strength
The rupee will probably stay around its new Rs 48.25 for a while before it begins to scratch at the Rs 48.10 levels. More

Rupee firm; securities rise
Mumbai: THE rupee closed almost unchanged at 48.25/26 against the dollar on Monday as compared to its previous close of 48.48.2650/27 in the forex market. "It was a very lukewarm market, with hardly any movement in the currency,'' said a forex ... More

INSURANCE

G-sec yield fall adds to insurers' woes
THE drop in Government security yields could not have come at a worse time for general insurance companies in the country. This fall in yields, industry sources said, had translated into a fall in incremental investment incomes for four public ... More

STOCKS

ICICI Bank down on Dabhol worries
THE stock of ICICI Bank has taken a beating on the bourses recently due to investment concerns and not so encouraging quarterly performance. The stock has seen a steady decline and shed over seven per cent in the last five days. Today, ICICI ... More

GENERAL INSURANCE

Call for transit insurance cover

PRIVATE BANKS

Lord Krishna Bank H1 net up 11 pc
THE net profit of Lord Krishna Bank has grown by 11 per cent to Rs 9.19 crore (Rs 8.25 crore) during the first half of the current year. Total deposits of the bank also rose by 11 per cent to Rs 1,449 crore (Rs 1,304 crore). Gross advances grew ... More

PUBLIC SECTOR BANKS

40 SHGs to receive bank loan

INTEREST RATES

SBH cuts loan rates to SHGs
HYDERABAD: State Bank of Hyderabad (SBH) has announced a reduction in interest rates on advances sanctioned to the self-help groups (SHGs) by 50 basis points. The rate was reduced to ten per cent from the existing level of 10.5 per ... More

FIXED DEPOSITS

SBM reduces deposit rates
BANGALORE: State Bank of Mysore (SBM) has revised its deposit rates across all maturities in line with the rest of the banking sector. A bank release said here that the time deposit rates for the short term — up to 14 days ... More

EVENTS

Workshop on forex business

IPOS

Canara Bank IPO opens on Nov 18 at Rs 35
THE Rs 385-crore initial public offering (IPO) of Canara Bank will open on November 18. The issue of 11 crore-equity shares of Rs 10 each, priced at Rs 35 per share, at a premium of Rs 25 per share will remain open till November 27. "The IPO ... More

CO-OPERATIVES

What ails cooperative banks?
Cooperative banks suffer from a congeries of maladies ranging from member apathy, duality of control by State governments and the Reserve Bank of India, low recovery rates and weak financial position, besides failure to modernise systems and procedur es. It is time both the Centre and the States braced themselves up to institute reform milestones and pursue them vigorously. More

Tirumala co-op bank's assurance
THE Chairman of the four-year-old Tirumala Co-operative Urban Bank Ltd here, Mr. N. Chandra Sekhar, has assured its customers and share holders that a transparent policy regarding the bank affairs would be followed and that the business position ... More

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