Financial Daily from THE HINDU group of publications
Saturday, July 19, 2003
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Financial Daily from THE HINDU group of publications Saturday, July 19, 2003 |
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MONEY & BANKING FARM CREDIT PSBs welcome rate cap on crop loans PUBLIC sector banks have welcomed the Central Government's move to cap interest rates on crop loans of up to Rs 50,000 at 9 per cent per annum. Bankers contend that this will help them capture larger volumes of business and also pass on the ... More FINANCIAL SERVICES Guardian Risk Advisors to offer financial planning programme THE Bangalore-based Guardian Risk Advisors, a customised financial planning (CFP) and wealth management services company, today announced the launch of a certified financial planner accreditation programme targeted at financial ... More FOREX India needs more flexible exchange rate policy: Rogoff WHILE India has been following a healthy exchange rate policy, not allowing wide fluctuations in the value of its currency, there is a case for countries like India and China to work for a more flexible policy, according to Mr Kenneth S. Rogoff, ... More
Rupee down 8 paise FINANCIAL PERFORMANCE PSB operating profit up 72 pc PUNJAB & Sind Bank has recorded a 71.55 per cent growth in its operating profit for the year ended March 2003 to Rs 280.81 crore as against Rs 163.70 crore during the previous financial year. The bank has recorded a net profit of Rs 4.43 crore ... More
SOFTWARE Polaris, NEC system for Japan bank POLARIS Software Lab and NEC Corporation have announced the successful deployment of NEC's Global Banking System (GBS) product at the Yachiyo Bank, Japan. NEC has committed eight more deployments of the GBS wherein Polaris would continue to play ... More HOUSING FINANCE HDFC posts 22 pc rise in Q1 net HOUSING Development Finance Corporation (HDFC) has announced an increase of 22 per cent in net profit, at Rs 167.76 crore, for the quarter ended June 30, 2003. The company had reported a net profit of Rs 137.3 crore during the corresponding ... More LIFE INSURANCE LIC still wary of debt buyback PITTED against the combined might of the public sector banks, the Life Insurance Corporation (LIC) is set to make a tactical retreat at the forthcoming debt buyback exercise. With the dual benefit of tax exemption and provisioning for ... More RBI & OTHER CENTRAL BANKS 
Y.V. Reddy appointed RBI Governor for five-year termDR Y. Venugopal Reddy has been appointed the new Governor of the Reserve Bank of India for a five-year term. Dr Reddy, who is currently India's Executive Director to the International Monetary Fund (IMF), will assume office from the day the ... More PRIVATE BANKS CSE to stop settlement operations with GTB THE Calcutta Stock Exchange has proposed to stop settlement and clearing operations with Global Trust Bank (GTB), a move that will reduce the number of settlement banks from three to two. United Bank of India and HDFC Bank will henceforth be ... More PUBLIC SECTOR BANKS BoI to extend multiple branch banking facility BANK of India hopes to extend multiple branch banking (anywhere banking) facility from the current 325 branches to 400 more branches by the end of the year. Addressing press persons after inaugurating the facility at the Suryabagh branch, Mr N. ... More
Corporation Bank to pay 45 per cent GOVT BONDS Banks show little zest for debt buyback scheme Bankers said that they were disappointed with the pricing quoted for the buyback. More NON-PERFORMING ASSETS ICICI Bank sends notice to Ponni Sugars (Orissa) ICICI Bank Ltd has issued notice to Ponni Sugars (Orissa) Ltd under the Securitisation Act demanding its dues failing which the bank would proceed against mortgaged or charged properties, the company has informed the stock exchange. The company ... More FIXED DEPOSITS PNB's new NRE deposit rates NEW DELHI: Punjab National Bank (PNB) has revised interest rates for NRE term deposits with effect from July 17 The new application rates are 3.70 per cent for the period of one year to less than 2 years, 4.10 per cent for 2 years to ... More MERGERS & ACQUISITIONS Vijaya Bank to merge housing fin arm THE housing finance arm of Vijaya Bank - VIBANK Housing Finance Ltd (VHFL) is to be merged with the bank. The board has got the nod from the National Housing Bank which holds a 12 per cent stake in the equity of the subsidiary. Disclosing this ... More REGULATORY BODIES & RULINGS IRDA decides to keep in abeyance order on insurance brokerage "The new IRDA move would dampen the prospects of insurance brokerage and hit the brokers hard." More ALLIANCES & JOINT VENTURES South Indian Bank in pact with Master Card THE Thrissur-based South Indian Bank has tied up with Master Card International to launch its Global Debit Card and ATM card. The bank will acquire MAESTRO & CIRRUS, a novel pin-based and secure debit card, one of the most popular products of ... More EVENTS Coin exchange mela today THIRUVANANTHAPURAM: The Circle Office of Canara Bank is organising a "Coin exchange mela" here on Saturday in connection with the bank nationalisation day that falls on July 19. According to Mr V. Natarajan, Divisional Manager, Canara ... More Comments & Letters to the Editor to: bleditor@thehindu.co.in Subscribe to: Business Line |
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Top Stories In Focus The Cable tangle Pakistan Diary Indo-Pak Monitor Indo-China Relations Telecom Competition In Depth In Kashmir Simple Economics Slowburn Tax Talk NRIs & Investment Avenues Corporate Governance Looking back Jul. 6-Jul. 12 Bank loan wilful defaults rise 30% at Rs 4,948 cr Private non-life cos clock 79 pc growth in Apr-May Banks more shy of rural lending Resurgent India Bonds redemption — RBI, SBI work out plan for smooth payout |
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