The Hindu Business Line : Friday, November 22, 2002

Citibank fined for `deficient service'
CITIBANK, Chennai, has been directed by the District Consumer Disputes Redress Forum to pay Rs 1.33 lakh, with a compensation of Rs 10,000, to a holder of the bank's credit card for the "deficiency in service and failure" to renew the group ... More

FOREX

Re falls; bonds move up
Mumbai: THE Indian rupee ended the day at 48.1850-1950 against the dollar on Thursday as compared to Wednesday's close of 48.2225-2325 in `a volatile forex market'. The State-run banks were buying at 23-24 levels today. Later when they pulled ... More

STOCKS

IDBI Bank gains on talk of foreign interest
THE stock of IDBI Bank has been witnessing intense activity in the past few days as news of foreign banks picking up stake in the bank trickled in. IDBI Bank has gained about 14 per cent since November 11. Today, the stock jumped 10.76 per ... More

RBI & OTHER CENTRAL BANKS

RBI clarification on Rs 500 notes
MUMBAI: The Reserve Bank of India has clarified that Rs 500 denomination notes continue to be legal and banks not accepting these notes should be brought to the notice of the RBI. This is in response to a notice the RBI received that some ... More

PUBLIC SECTOR BANKS

SBI cuts deposit rates once again
STATE Bank of India (SBI) today announced reduction in domestic term deposits by 25 to 50 basis points for various maturities. This is the second cut in term deposit rates by the SBI in less than a month after the credit policy announcement on ... More

GOVT BONDS

Banks make solid bids at OMO
THE Rs 6,000-crore Open Market Operations by RBI witnessed aggressive bidding by nationalised banks on Thursday. This is the fourth consecutive OMO and auction to have witnessed such bidding by banks flush with funds. The cut-off price for the ... More

NON-PERFORMING ASSETS

Banks, FIs prepare to write back Dabhol provisions
A SLEW of domestic banks and financial institutions (FIs) are preparing to write back some of the provisions made for Enron-promoted Dabhol Power Company (DPC) once it returns to the grid. Sources said here that among the key beneficiaries of ... More

FIXED DEPOSITS

PNB lowers NRE deposit rates

MERGERS & ACQUISITIONS

AIBOC welcomes `forced merger' of banks
THE All-India Bank Officers' Confederation (AIBOC) has welcomed what it calls `the forced merger' of the Kozhikode-based Nedungadi Bank with the Government-owned Punjab National Bank as well as the `likely takeover' of Centurion Bank by Andhra ... More

TRADE & LABOUR UNIONS

Bank staff to observe `protest day'
THE United Forum of Bank Unions (UFBU) is gearing itself to launch a country-wide agitation against the "unhelpful attitude" of the Government and the managements. As a first step, November 22 is being observed as a `protest day' and the ... More

EVENTS

`Lift ceiling on foreign ownership of banks'
INDIA should lift caps on foreign ownership of banks and push ahead with disinvestments in state-owned financial services providers to further liberalise the financial industry, according to Mr Paul Boateng MP, Chief Secretary to the Treasury, ... More

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