The Hindu Business Line : Monday, January 27, 2003

Central Bank drive to modernise branches
THE Central Bank of India would complete the modernisation of all its branches in the next five years, according to Mr J.C. Bandopadhyay, General Manager, Chennai Zone. Addressing the newspersons here, Mr Bandopadhyay said out of 3115 branches, ... More

COURTS/LEGAL ISSUES

Lok Adalat settles 48 cases
CHENNAI: A Lok Adalat was recently organised by the Tamil Nadu State Legal Services Authority for the settlement of State Bank of India cases. Inaugurating the event, the Justice of Madras High Court, Justice Mr B. Subhashan Reddy, in ... More

INFORMATION TECHNOLOGY

SBI plans group connectivity
STATE Bank of India (SBI) has announced its decision to have a common technology platform with its associates to leverage the `synergies' of the group. As a beginning, the bank would test its core banking solutions through select branches, ... More

TECHNOLOGY

ATMs more a drain than gain?
BANKS, both the private and the nationalised ones, may be going in for automated teller machines (ATMs) in a big way. But if industry sources are to be believed, the return on investment from these ATMs could be poor. The reasons include poor ... More

DEBT MARKET

Bond market's free fall just a blip
THE bond market went into a tizzy last week as the date for the submission of the arms inspectors' report to the UN came closer. I was surprised to see the market, which had shown amazing resilience in the past, in a complete freefall. The way ... More

PUBLIC SECTOR BANKS

RBI okays Rs 770-cr recap to Indian Bank
ALL hurdles towards administering the second dose of capital infusion to Indian Bank this year has been removed with the Reserve Bank of India giving its clearance to the Government for the release of the second tranche of recapitalisation ... More

Andhra Bank EGM on March 10 — To return Rs 50 cr to Govt this fiscal
IN a move that would result in better earnings per share and return on average equity, Andhra Bank, the Hyderabad-based public sector bank, proposes to return Rs 50-crore capital to the Government. Subsequent to the initial public offer of Rs ... More

SBH felicitates top performers
HYDERABAD: The State Bank of Hyderabad (SBH), one of the associate banks of State Bank of India, has presented awards to top performing branches on various parameters for 2001-02. In a press release here, the bank said its Managing ... More

FINANCIAL INSTITUTIONS

Hudco likely to cut lending rates
AFTER registering an all-time high third quarter growth of 28 per cent in net profits during 2002, the Housing and Urban Development Corporation Ltd (Hudco) has mega plans to double its profits in 2003. On the cards are a clutch of measures ... More

GOVT BONDS

Long-dated securities witness heavy selling
Traders, insurance companies and provident funds have been selling long-dated securities in large volumes, pushing up their yields. More

NON-PERFORMING ASSETS

`Indian ARCs will not go Indonesian way'
ASSET reconstruction companies (ARCs) in India would not go the Indonesian model way, which has met with little success. The Chairman of the Industrial Development Bank of India (IDBI), Mr P.P. Vora, gave this assurance at a seminar on Debt ... More

FIXED DEPOSITS

UBI revises deposit rates
UNITED Bank of India (UBI) has revised rates of interest on domestic term deposits of various maturities and also on NRE term deposits. The revised rates will come into force from January 27. Thus deposits for the period from 15 to 29 days will ... More

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