The Hindu Business Line : Saturday, January 18, 2003

Geojit coming to Coimbatore
`Geojit has been in this business for the last 17 years and hence we are long-term players in the market. Perhaps one can say that we were also waiting for the market to settle down in Coimbatore.' More

FOREX

Rupee firm; gilts buoyant
Mumbai: THE rupee ended on Friday almost unchanged at 47.9300/9350 as compared to Thursday's close of 47.9300/9400. State-run banks permitted the rupee to move only in a very narrow band, with consistent mopping up of the dollar ... More

HOUSING FINANCE

ICICI Bank cuts home loan rates
ICICI Bank has cut interest rates on housing loans by 50 basis points, effective January 17. By bringing the interest rates on the fixed rate home loans at par with the current adjustable rates, the bank will be able to attract new segments of ... More

FINANCIAL MARKETS

Invest more in shares, bonds, says PM
THE Prime Minister, Mr Atal Bihari Vajpayee, has called for `concerted efforts' to motivate households to invest their savings in shares and bonds rather than in non-financial assets and bank deposits. "The Indian household investor, of late, ... More

PRIVATE BANKS

Federal Bank Q3 profit at Rs 82 cr
AT the end of the third quarter, the Aluva-based Federal Bank has notched up a cumulative net profit of Rs 82.46 crore, registering an increase of 28 per cent over the corresponding period of last year. The first nine months profit has already ... More

Dhanalakshmi Bank opens 3 branches

PUBLIC SECTOR BANKS

Corpn Bank extends date for IT training
MANGALORE: Corporation Bank, which is offering a 10-hour subsidised basic computer-training programme to its customers and 1,000 scholarships to `meritorious students' in association with the National Institute of Information Technology ... More

J&K Bank offers up to 15% equity for sale — Asset management company plan on hold
JAMMU & Kashmir Bank Ltd. has decided to go slow on its proposal to set up an asset management company and would focus on its insurance business to swell it non-interest income in near term. "Once the insurance business gets stabilised and the ... More

FINANCIAL INSTITUTIONS

SIDBI to run $40-m support fund for small enterprises
THE Small Industries Development Bank of India (SIDBI) will shortly operationalise a $40 million support fund for small enterprises, according to Mr P.B. Nimbalkar, Chairman, SIDBI. Addressing an interaction meeting organised by the Tamil Nadu ... More

Directors not liable for certain FI defaults
SETTING to rest all doubts surrounding the disqualification of directors of public financial institutions (PFIs), the Department of Company Affairs (DCA) has now decided to clarify that default of privately placed bonds or debentures or debt ... More

NON-PERFORMING ASSETS

PSB sends notice to 301 defaulters
PUNJAB and Sind Bank (PSB) has issued notices to 301 defaulters involving an amount of Rs 167 crore under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Bill, 2002. Out of this, the bank has also ... More

SECURITISATION

Andhra Bank to securitise home loans, return capital
ANDHRA Bank intends to raise Rs 200 crore from the market by securitising a part of its housing loan portfolio. This will not only fetch funds for its operations, but will also ease pressure on its capital adequacy, the bank's Chairman and ... More

INTERVIEW

Royal Sundaram to focus on personal segment
MR Antony Jacob, 42, Deputy Managing Director of Royal Sundaram Alliance Insurance Company Ltd, and a chartered accountant by training, has had a packed stint since joining the India Liaison Office of Royal & SunAlliance in 1996. In 1997, he ... More

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