The Hindu Business Line : Monday, June 09, 2003

NMGB records 24.86 pc rise in net profit
THE Kannur-based North Malabar Gramin Bank (NMGB) has recorded 24.86 per cent increase in net profit for 2002-03. The net profit of the bank moved up to Rs.11.30 crore from Rs. 9.05 crore in the previous year. The deposits rose by 24 per cent ... More

FOREX

A window of opportunity for corporates
A KEY concern of any corporate treasury is the reduction of the company's cost of borrowing. In recent years, several options, ranging from access to overseas lender to structured funding products, have emerged providing tools necessary to ... More

STOCKS

PSU bank stock trading on May 29 — Investor loss could be as high as Rs 40 cr
WHERE would one place the bubble that burst in public sector bank stocks last week? As scams go, this wouldn't rank anywhere near the kind of monies that investors lost during the securities scam of 1992 or the more recently in early 2001, that ... More

GENERAL INSURANCE

SBI Life offers cover for SSI loans
IF you are among the bankers seriously concerned over the rising level of non-performing assets (NPAs) primarily owing to direct lending to the priority sector, you need not worry any longer. Here's is a novel solution that assures effective ... More

HUMAN RESOURCES

Bank of Maharashtra plans to induct young blood
BANK of Maharashtra, which is in the process of recruiting 250 officers right now, expects to be need more young recruits. "Most of our 14,000-odd staff are above 45 years; we are going to need replacements," Mr S.C. Basu, Chairman and Managing ... More

PRIVATE BANKS

Pvt banks bet on direct sales agents for better biz
WITH limited branch networks, private sector banks are increasingly depending on outside agencies to sell their retail products. Despite the lack of loyalty and accountability associated with direct selling agencies, new generation private ... More

PUBLIC SECTOR BANKS

BoB aims at 18.2 pc credit offtake growth
BANK of Baroda (BoB) is looking at an 18.2 per cent growth in credit off-take nationwide during the current fiscal. Mr M.M. Gadgil, Deputy General Manager, told newspersons here that the eastern zone, however, was expected to show better ... More

FINANCIAL INSTITUTIONS

IDBI rules out credit sops to HFCL
INDUSTRIAL Development Bank of India (IDBI) has refused to entertain a request for concessions on the line of credit granted to telecom equipment major, Himachal Futuristic Communications Ltd, amounting to Rs 230 crore plus interest, asking it ... More

GOVT BONDS

Despite RBI's aggressive intervention — Yields soften further; mood is upbeat
RBI had been active both in the foreign exchange as well as the money markets. In the foreign exchange markets, the RBI intervention was intended to ensure that the rupee was kept ranged and to prevent forward premiums from falling further from their already low levels. Prepayment permissions had yielded only limited dividends in sterilisation, traders said. This was because some of the corporates were expecting the dollar to shrink further in order to make the prepayments. More

NON-PERFORMING ASSETS

Banks finding it hard to proceed against defaulters
WORRIED over the impediments in enforcing the security interest under the Securitisation Act, bankers have started to go slow in attaching properties under the Act. Notices continued to be served, but bankers could go no further with the ... More

TRADE & LABOUR UNIONS

AP: SBI staff to stage dharna

PEOPLE

Nabard Regional Office CGM

New DGM for Bank of India

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