The Hindu Business Line : Saturday, April 26, 2003

Rupee steady; gilts move up
Mumbai: THE rupee closed steady at 47.3550 per dollar on Friday as compared to the previous close at 47.34. Dealers said that the market remained thin, although some state-run banks were seen mopping up greenbacks following foreign banks ... More

INFORMATION TECHNOLOGY

Union Bank's e-payment facility
UNION Bank of India has launched `Union BillPay', an online utility bill payment service for its customers in association with BillDesk. Union BillPay will enable the customers to view and pay their telephone, electricity, mobile, insurance ... More

Dhanalakshmi Bank to network branches soon
THE Thrissur-based Dhanalakshmi Bank will finalise the `core banking solutions' vendor within the next 15 days. In another four months, the bank would have a few major branches linked up. How many branches would be covered in the first phase of ... More

INSURANCE

Brokers' bodies heed IRDA; to merge
THANKS to the unofficial disapproval of the Insurance Regulatory and Development Authority (IRDA), a split in the Insurance Brokers Association of India (IBAI) has been averted. The recently formed parallel body, the `Licensed Insurance ... More

STOCKS

FIIs' shedding drags HDFC stock down
THE stock price of housing finance company HDFC has been on a downward move over the last few days due to heavy selling on account of concern over the company's market share in the housing finance business to come down. The stock of HDFC is ... More

FINANCIAL PERFORMANCE

CSB net up by 21 pc
THE Thrissur-based Catholic Syrian Bank's net profit has grown by 21 per cent to touch Rs 45.16 crore for the year 2002-2003 against Rs 37.12 crore for the previous year. The board of directors, which met at Thrissur on Friday, recommended a ... More

LIFE INSURANCE

Sharp fall in LIC first premiums
LIFE Insurance Corporation of India has recorded a sharp fall in first premium income in 2002-2003 at Rs 9,688.87 crore compared to Rs 14,800 crore in the previous year. The total sum assured was also lower at Rs 1,79,683 crore against Rs ... More

GENERAL INSURANCE

Global reinsurers halve commissions
GLOBAL reinsurers have now begun exerting pressure on domestic general insurance companies and virtually halved the commissions. Industry sources said here that reinsurers were prepared to concede commissions of only 5 per cent currently as ... More

PRIVATE BANKS

ICICI Bank: Dividend declaration `eye-catching'
ICICI Bank's operational performance registered improvement in the quarter ended March 2003. Sharp reduction in costs, slump in treasury gains, surge in deposit intake and advances, reduction in provisions for bad loans and taxes are some of the ... More

ICICI Bank tops in retail finance
ICICI Bank on Friday said it has gained leadership in retail finance with a market share of 29 per cent. According to Mr K.V. Kamath, MD and CEO, ICICI Bank, the bank has achieved 34 per cent of the market share in auto loans with the nearest ... More

GOVT BONDS

`Debt buy-back from banks to be effected by June'
THE Finance Minister, Mr Jaswant Singh, today said that the Centre's proposed buy-back of its high-cost loans from banks, as announced in the 2003-04 Union Budget, will be completed within the coming two months. "I am happy to mention that the ... More

TRADE & LABOUR UNIONS

Banking operations in Bengal hit
KOLKATA: Normal banking operation remained suspended in West Bengal on Friday as bank employees observed one-day's token strike all over the State responding to the call given by the Bengal Provincial Bank Employees Association (BPBEA), ... More

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