The Hindu Business Line : Wednesday, January 29, 2003

Capital a/c convertibility pangs
REFLECTING their new-found confidence, the Government and RBI have now allowed residents - both individuals and corporates - to invest in specified foreign financial assets. In fact, there is no investment limit, provided the investment is ... More

Rupee up; G-secs crash

INFORMATION TECHNOLOGY

CMC wins Central Bank order
MUMBAI: CMC Ltd, a Tata Group company, has announced that it has won a multi-crore, total branch automation (TBA) order from the Central Bank of India. The TBA order covered automation of 300 branches across 36 cities and involves ... More

FINANCIAL PERFORMANCE

Andhra Bank rules out Centurion takeover — Retailing helps lift net up 141 pc
THE State-owned Andhra Bank has dropped its plan for a possible takeover of Centurion Bank and will not seek inorganic growth for the "time being". "At present, we do not have any acquisition target", the Chairman and Managing Director, Mr B. ... More

State Bank of Bikaner net up at Rs 158.6 cr
STATE Bank of Bikaner and Jaipur has recorded a 32-per cent increase in net profit at Rs 158.60 crore for the quarter ended December 31, 2002 as compared to Rs 120.43 crore in the corresponding period in the previous year. The total income of ... More

IDBI net up 14 pc
INDUSTRIAL Development Bank of India (IDBI) has posted a 14.28 per cent increase in net profit at Rs 40 crore for the third quarter ended December 31, 2002, as compared to Rs 35 crore in the corresponding period of previous year. Income from ... More

GTB income, net down
GLOBAL Trust Bank Ltd (GTB) has suffered a decline both in total income and net profit for the third quarter ended December 31, 2002, of the current fiscal. According to the unaudited financial results approved by the board on Tuesday, the bank ... More

Vijaya Bank net profit jumps 19 pc
THE State-owned Vijaya Bank has posted a net profit of Rs 52.60 crore for the December quarter of the current financial year, up 19.4 per cent from Rs 44.05 crore a year ago and 39.37 per cent from Rs 37.74 crore sequentially. Total income ... More

LIFE INSURANCE

LIC may relaunch Jeevan Sneha
THE Life Insurance Corporation is likely to reintroduce shortly the `Jeevan Sneha' policy which is one of the several assured returns schemes it had withdrawn from the market a year ago. Sources said, LIC has already applied to the Insurance ... More

RBI & OTHER CENTRAL BANKS

RBI tightens norms for bills discounting
THE Reserve Bank of India has permitted banks to sanction limit for bills discounting to borrowers in accordance with the loan policy as approved by their board of directors. In its guidelines on discounting and rediscounting of bills by banks, ... More

NON-PERFORMING ASSETS

Vijaya Bank road show today to recover dues
ENCOURAGED by the good response to the road shows conducted during the past month, Vijaya Bank is planning yet another show on January 29. This is the third show the bank proposes to conduct in Coimbatore, although as many as 26 road shows have ... More

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