The Hindu Business Line : Friday, July 25, 2003

CCIL to offer free forex clearing from Aug 7
BANKS will be able to trade in foreign currencies on the free-platform being offered by Clearing Corporation of India Ltd (CCIL) from August 7. CCIL has received permission from the Reserve Bank to launch it trading platform — FX-CLEAR. ... More

Rupee firms up
MUMBAI: The rupee ended marginally higher against the dollar at 46.1550/1650 on Thursday, compared to Wednesday's close at 46.16/1650. The domestic currency opened 46.13/14, and touched an intra-day high of 46.12/13 on the back of strong ... More

INSURANCE

It's now fiscal half for DICGC premium payment
THE Deposit Insurance and Credit Guarantee Corporation (DICGC), a wholly owned subsidiary of Reserve Bank of India, has changed the periodicity of payment of advance premium by banks. Effective October 1, 2003, all the banks insured with DICGC ... More

NBFCS

Panel for stiffer fines on defaulting NBFCs
THE Parliamentary Standing Committee on Finance has recommended changes in the Financial Companies Regulation Bill, 2000 which seeks to regulate non-banking finance companies (NBFCs), including a raise in minimum penalty in case of default in ... More

HOUSING FINANCE

Canara Bank cuts home loan rates

HUMAN RESOURCES

UCO Bank keen to hire special skills
UCO Bank has decided to build a regiment of segment-specialised officers with requisite qualification and experience to work in the areas of credit, treasury functions, foreign exchange, IT and HRD. This, according to Mr V.P. Shetty, CMD of UCO ... More

PRIVATE BANKS

ICICI Bank playing for stake in Cibil?
While all major banks and lending institutions have signed up as members of the bureau, ICICI Bank, the largest bank in the private sector with assets of over Rs 1,00,000 crore, has not yet joined. More

PUBLIC SECTOR BANKS

Margin expansion boosts SBI net
STATE Bank of India's performance in the first quarter of 2003-04 was on expected lines. The net profit growth of nearly 20 per cent was always on the cards given that incremental cost of funds for banks has been much lower than 5 per cent for ... More

FINANCIAL INSTITUTIONS

IDBI closer to conversion into bank
THE path has been cleared for the conversion of Industrial Development Bank of India (IDBI) into a commercial bank with the Parliamentary Standing Committee on Finance giving its go-ahead for the enactment of Bill to repeal the IDBI Act, 1964, ... More

SICOM cuts lending rates
SICOM Ltd, a lender to the small and medium-sized companies in Maharashtra, today said it has cut lending rates by 50 basis points. At the company's post-AGM press conference, Mr R.D. Pradhan, Chairman, SICOM, told reporters that the company's ... More

CO-OPERATIVES

Panel to chalk out revamp of co-op banks in AP
IN a move aimed at restructuring the cooperative credit institutions in the State, the Government has constituted an expert committee to assist the Cabinet committee formed to look into introduction of reforms in the cooperative credit system and ... More

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