The Hindu Business Line : Thursday, April 24, 2003

Kochi traders protest move to merge clearing houses
A PROTEST march was organised on Wednesday in Fort Kochi by the action council led by the Indian Chamber of Commerce against the shifting of Kochi clearing house currently functioning in the SBI at Kalvathi, Fort Kochi, to Ernakulam. The bank ... More

INSIGHT

The hidden cost of cheap-funding FCI
FOOD credit is a given, constant factor of the financial system and no bank can demur from funding the sick Food Corporation of India (FCI). The RBI orders most of the nationalised banks to put up funds at around 11 per cent (the prime lending ... More

FOREX

Rupee steady; bonds dip
Mumbai: THE rupee closed almost unchanged on Wednesday at 47.3400/3450 against the dollar from the previous close of 47.3425/3475 in the local currency market. There was good amount of dollar inflow, which was mopped up by corporates at 47.32 ... More

DEBT MARKET

Buyback through swap route likely
THE high coupon securities buyback by the Centre is to be done through the swap route. The buyback programme was announced in the Budget speech. High level banking sources said here that in the first tranche, at least Rs 40,000 crore of ... More

RBI & OTHER CENTRAL BANKS

Birla Mutual plans swap offer
BIRLA Sun Life Mutual Fund has proposed to offer retail investors a mechanism for exchanging bonds for more liquid securities subject to certain conditions. The fund house has sought the Reserve Bank of India's permission for the scheme,Birla ... More

PRIVATE BANKS

Sigh of relief for 'em
SENIOR executives at Centurion Bank must be a rather relieved a lot with the cloud of uncertainty lifting about its future course. For the past three years, they have been hounded by periodic enquiries about their likely suitors. These ... More

PUBLIC SECTOR BANKS

Kerala: SBI staff up in arms against `clean notes'
THE State Banks' Staff Union (Kerala Circle) has threatened to launch a strike to protest the implementation of the `clean note' scheme till such time as the management initiates effective back-up mechanism to protect the interests of both the ... More

NON-PERFORMING ASSETS

Sub-Rs 10-cr NPA scheme draws poor response
THE revised compromise settlement scheme for chronic NPA (non-performing assets) accounts of public sector banks has evoked a poor response, according to bankers. . The scheme announced in January this year was for NPA accounts of up to Rs 10 ... More

CREDIT CARDS & DEBIT CARDS

Hero Honda launches co-branded card
HERO Honda, India's largest two-wheeler maker, and SBI Cards, a joint venture between State Bank of India and GE Capital to issue credit cards, on Thursday launched a co-branded credit card for the former's customers. The `Hero Honda SBI Card' ... More

MERGERS & ACQUISITIONS

Talwar's Sabre to take over Centurion
SABRE Capital Worldwide, promoted by former Standard Chartered CEO, Mr Rana Talwar, is all set to take over management control of the ailing Centurion Bank. The Sabre Capital investor group will invest Rs 129 crore to acquire 48 per cent stake ... More

INTERVIEW

`Vast market for financial planners'
India presents large-scale opportunities for CFPs, given its investment traditions and a huge investor base. We believe that the demand for planners will increase in future, particularly because of certain recent happenings. The insurance sector has been opened up and consumers have more insurance products to choose from. More

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