The Hindu Business Line : Thursday, May 29, 2003

Rupee volatile; gilts rally
Mumbai: IT was an unexpected day of high volatility for the Indian rupee on Wednesday. The domestic currency depreciated by ten paise against the dollar on the back of month-end demand for dollars from corporates. The rupee today reversed the ... More

INFORMATION TECHNOLOGY

ICICI Info's Newton takes off here with LVB
ICICI Infotech will shortly introduce in India a new core banking solutions software that will allow banks to carry on with their legacy applications. The product, called Newton, has been implemented in two banks in Japan and three banks in ... More

InfraSoft package to track money laundering
The package captures customer details, stores compliance rules, monitors transactions and flags any violation of transactions against customer profile and compliance rules. More

i-flex wins German bank order
BANGALORE: i-flex Solutions on Wednesday announced that it had won a major order from HypoVereinsbank Group (HVB Group), one among the top five European banks. HVB Group would implement i-flex's core banking solution Flexcube to ... More

PRIVATE BANKS

IDBI Bank's branch garners Rs 10-cr biz

PUBLIC SECTOR BANKS

Govt not to charge premium on equity returned by banks — Thumbs-up from stock markets
IN what is expected to perk up bank shares further, the Ministry of Finance has said that it does not have any plans to charge a premium on the equity that a host of banks plan to return. The equity that would be returned to the Government ... More

Canara Bank not to return equity before November
CANARA Bank has said that it will consider return of equity to the Government only in November this year, after the expiry of the one-year lock-in period. The bank's Chairman and Managing Director, Mr R.V. Shastri, said today the bank had ... More

Recapitalisation at public cost
TILL end-March 2002, the Union Government has provided Rs 21,746 crore as recap funds to support the balance sheets of Government banks. In 2002-03, the Central Government made a provision of Rs 770 crore. Except for State Bank of India, all ... More

Banks flex CAR muscle
PUBLIC sector banks in India have shown considerable improvement in their capital adequacy ratios (CAR) in fiscal 2003. CAR is a parameter of judging a bank's financial strength and capacity to expand its business. The Reserve Bank of India ... More

Syndicate Bank's business target

INTEREST RATES

UCO Bank cuts rates
UCO Bank has decided to lower the interest rate on deposits and advances with effect from June 2. According to an official release issued here on Wednesday by the bank, deposits with maturity of two years and above would earn 6 per cent and ... More

GOVT BONDS

Govt stock auction

REGULATORY BODIES & RULINGS

Chaturvedi set to replace Sharan — No rethink on Govt nominee as IRDA member
THE Insurance Regulatory and Development Authority (IRDA) is not likely to have a swift victory in its battle for independence against an allegedly `intrusive' Government that had recently nominated one of its senior officers as part-time ... More

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