The Hindu Business Line : Thursday, June 19, 2003

Syndicate Bank plans credit for farm sector
SYNDICATE Bank has formulated a special plan for agricultural credit for the development of the agricultural sector in the Dakshina Kannada and Chikmagalur districts of Karnataka. Under this special plan, the bank has disbursed loans amounting ... More

FINANCIAL SERVICES

Western Union ties up with AFL Wiz
WESTERN Union Financial Services International, which has a liaison office in India, has tied up with the Mumbai-based AFL WiZ for home delivery of remitted money. AFL WiZ, already an agent of Western Union, is one of the larger courier companies ... More

FOREX

Rupee steady, gilts listless
Mumbai: THE rupee moved up just one paisa on Wednesday to end the day at 46.58/59 against the dollar compared to Tuesday's close of Rs 46.5950/6050 in the currency markets. There was the usual good supply of the dollar; but towards the end of ... More

INFORMATION TECHNOLOGY

BoI networking all branches in Kerala
ALL 26 branches of Bank of India (BoI) in the State are in the process of being interconnected to provide Multi-Branch Banking (MBB) services through multiple delivery channels. OMNIEnterprise financial transaction switch of the Mumbai-based ... More

SOFTWARE

Satyam bags World Bank order

LIFE INSURANCE

AMP Sanmar bets on rural growth
AMP Sanmar Assurance, the Chennai-based life insurance company, plans to spend its resources and energies on the B and C class centres across the country. The company is of the view that the low penetration of insurance in the semi-urban and ... More

AMP Sanmar to help in rural job generation
AMP Sanmar Assurance Company Ltd, the life insurance joint venture of the Chennai-based Sanmar group with AMP of Australia, has entered into a strategic alliance with the State Government for helping it in its efforts to generate rural employment ... More

Minister's comment on LIC resented
REACTING to the remarks made by the Union Minister of State for Finance on Life Insurance Corporation of India (LIC), the All-India Insurance Employees' Association (AIIEA) said "the Minister is either ignorant of the tremendous strength of LIC ... More

Kotak launches market linked insurance plan
HAVE you lost any money in the equity or equity related instruments? Would you invest all your money in bank deposits? Do you believe that equity markets are still the place to create serious wealth? If your answers are in the affirmative, here ... More

DEBT MARKET

Fitch debunks `guarantees'
SIMPLY labelling a guarantee `unconditional' and `irrevocable' does not always ensure enforceability in the debt market, Fitch Ratings India has noted. There have been a number of instances of a guarantor disputing its obligations when called ... More

DERIVATIVES MARKETS

IndusInd to tap forex derivatives
WITH interest rates having perhaps bottomed out and trading incomes from the debt markets - the major contributor to banks' profitability over the last two years - set to decline, IndusInd Bank plans to increase its focus on the foreign exchange ... More

PUBLIC SECTOR BANKS

AA rated paper finds favour with banks
About two weeks back, Ashok Leyland raised Rs 25 crore through double A rated paper and the issue was picked up entirely by a public sector bank at the rate of 6.20 per cent. More

FOREIGN BANKS

StanChart gets retail boost
STANDARD Chartered Bank has posted a net profit of Rs 848.3 crore for the year ended March 31, 2003. This figure, however, is not comparable to the previous year since it is the combined figures of Standard Chartered and Grindlays Bank after ... More

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