The Hindu Business Line : Thursday, July 17, 2003

Rupee loses 6 paise
MUMBAI: On the back of overnight strengthening of the greenback and demand for it in the local currency markets, the rupee lost another 6 paise on Wednesday in its value against the dollar to close at 46.20/21. The central bank was even ... More

INSURANCE

NIC meet at Ramoji film city

STOCKS

Public issue news boosts Vijaya Bank
THE Vijaya Bank stock today maintained its upward journey on the major bourses, which was triggered by the news of Rs 100-crore public issue. The stock hit its 52-week high of Rs 28.75 (Rs 27.60). It recorded a traded quantity of 24.79 lakh and ... More

FINANCIAL PERFORMANCE

Federal Bank Q1 net rises 115 per cent
THE net profit of the Aluva-based Federal Bank grew by 115 per cent to touch Rs 37.43 crore for the quarter ending June 30, 2003, as against the Rs 17.47 crore recorded during the corresponding quarter of the previous year. While the total ... More

CONSUMER FINANCE

SBM, Maruti in pact for car loans
INDIA'S largest carmaker Maruti Udyog and State Bank of Mysore on Wednesday announced a tie-up to offer car loans, which will also help the former to tap the rural and semi-urban markets. The Maruti Udyog Managing Director, Mr Jagdish Khattar, ... More

HUMAN RESOURCES

Pension is `too small' for bank chairmen
One top public sector bank chairman confided, that when he retires, he will only get a pension of around Rs 5,000. More

PRIVATE BANKS

ICICI Bank gets RBI approval for offshore unit
EVEN as the largest bank in the country, State Bank of India is inaugurating the first offshore banking unit on Thursday, ICICI Bank, the second largest bank, today announced that it has received approval from the Reserve Bank to do the ... More

PUBLIC SECTOR BANKS

`Canara Bank equity revamp by year-end'
CANARA Bank's capital restructuring would be considered only towards the end of this year. This was stated by Mr R.V. Shastri, Chairman and Managing Director of the bank. Speaking at the first Annual General Meeting after the bank went public ... More

PNB board meet

INTEREST RATES

Jaswant sets 9% interest on crop loans by banks
THE country's 13-crore-strong farming community has some cause for cheer, with the Finance Minister, Mr Jaswant Singh, today announcing that crop loans of up to Rs 50,000 made by public sector banks will henceforth attract a maximum annual ... More

Squeeze on spreads testing banks' skills: IOB chief
THE squeeze on spreads is testing the skills of bankers, the Chairman and Managing Director, Indian Overseas Bank, Mr S.C. Gupta, said today. "How a bank manages to make higher profits in the overall scenario of declining spreads is the real ... More

GOVT BONDS

`Rs 30,000 cr in first tranche of bank buyback likely'
THE Government expects that the first tranche of buyback of debt from the public sector banks would involve an amount of about Rs 25,000-30,000 crore, the Finance Secretary, Mr D.C. Gupta, said on Wednesday. "We expect the first tranche of ... More

CREDIT CARDS & DEBIT CARDS

HSBC's credit card offer for Christ College former students

IPOS

Vijaya Bank to issue equity shares in Sept
THE Rs 100-crore proposed equity offering of Vijaya Bank is slated for September. The bank is, however, yet to finalise the date and the premium at which the share would be offered, Mr P.A. Sethi, Executive Director, Vijaya Bank, told Business ... More

CO-OPERATIVES

States asked not to issue guarantees to co-op banks
THE Government has advised the Reserve Bank of India to issue instructions restraining States from issuing guarantees for the co-operative banks. This was stated by the Finance Minister, Mr Jaswant Singh, while addressing the Parliamentary ... More

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