The Hindu Business Line : Saturday, May 03, 2003

RRBs under Canara post 16-pc growth
THE total business of the eight regional rural banks sponsored by the public sector Canara Bank has achieved a record Rs 4,673 crore in 2002-03, a 15,63 per cent growth over the previous year. The bank release said here that the RRBs continued ... More

FOREX

Rupee steady; G-secs fall
Mumbai: THE rupee closed similar to previous levels on Friday, at 47.3450/3550 per dollar in a thin forex market. Dealers said there was not much movement in the spot as most public sector banks were watching from the sidelines on account of a ... More

INTEREST RATES

Union Bank cuts lending rates
UNION Bank of India has cut lending rates across the board by 25 basis points with effect from May 6. The banks revised PLR is now 11 per cent from 11.25 per cent previously. The bank has also decided to charge one per cent below PLR to the SSI ... More

Reassuring note for insurers
THE RBI Governor announced the Credit Policy against a backdrop of expectations of rate cut, rising inflation, and incipient industrial recovery. The policy announcements mentioned some of the concerns that can impact interest rate markets. ... More

GOVT BONDS

Govt set on buyback to trim debt burden
THE Government proposes to buy back 24 securities with a face value of Rs 82,623 crore from banks and FIs in a `switch deal' under the debt - buy back scheme announced in the Union Budget. The Finance Secretary, Dr S. Narayan, on Friday said ... More

Banks welcome gilts buy-back; wary on price
BANKERS seem cautiously optimistic about the Government's offer to buy back illiquid securities. Although the move is being generally welcomed, smaller banks are asking for a level playing field. The smaller public sector banks feel that they ... More

CREDIT CARDS & DEBIT CARDS

They give no credit to the `worthies'
JOURNALISTS, policemen and lawyers are often envied for the clout they wield and the access they have to the high and mighty. But it is a mixed blessing. Some doors may not open simply because they are who they are. And one privilege that may ... More

Amway, ICICI Bank tie up for credit card
THE Rs 625-crore direct selling major, Amway India, on Friday announced an alliance with ICICI Bank, for the launch of a co-branded international credit card. The card will enable Amway distributors to purchase Amway products and earn and ... More

TRADE & LABOUR UNIONS

Banking services hit by strike
BANKING service was paralysed across the country with over 2 lakh bank officers in public sector and old private sector banks struck work on Friday for revision of wages and other demands. Several bank branches across the country however, were ... More

SBI staff union defers token strike on May 5
THE State Banks' Staff Union (SBSU), Kerala Circle, has deferred its call for a token strike on May 5 to an undisclosed date after the Assistant Labour Commissioner (Central), Thiruvananthapuram, offered to intervene to solve the contentious ... More

Strike force
A security guard closing the gate at State Bank of Mysore's headquarters in Bangalore as bank officers across the country struck work on Friday.

Bank services hit in Dakshina Kannada

CO-OPERATIVES

Singhania to hold brief for co-op bank victims
VISU Trust, which has decided to take up the cause of the victims of crisis-ridden cooperative banks, has roped in Singhania & Co, an international law firm based out of the US, to help it in filing an "appropriate" petition in the Supreme Court, ... More

ECONOMIC OFFENCES

Bank director denied bail
THE Chief Metropolitan Magistrate (CMM) Calcutta today rejected the bail prayer of Mr Keshab Bangur and Mr Vinod Baid and remanded them to jail custody. The CBI had arrested Mr Bangur, a Director of Bank of Rajasthan, for alleged ... More

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