The Hindu Business Line : Tuesday, August 26, 2003

Cauvery Grameena Bank bets big on financing SHGs
THE Cauvery Grameena Bank, which recorded a profit of Rs 1.78 crore last year, hopes to more than double that figure to touch Rs 4 crore in 2003-04. According to its Chairman, Mr Shantaram Sharma, the bank would focus on financing self-help ... More

INFORMATION TECHNOLOGY

IDBI Bank, Andhra Bank to share ATMs
IDBI Bank and Andhra Bank have announced a strategic alliance to increase their automated teller machine (ATM) reach. Addressing newspersons here on Monday, the IDBI Bank acting Chief Executive Officer, Mr Ajay Bimbhet, and the Andhra Bank ... More

Federal Bank offers Anywhere Banking
THE Federal Bank on Monday announced the launch of its Anywhere Banking services, providing its customers the convenience of doing transactions among its 300 plus interconnected branches. The technology-intensive platform would enable its ... More

SBI ATM at Police Club

INSURANCE

Insurance laws must be updated: Jaitley
IRDA would be setting up a committee to review its decision allowing 5 per cent discount to all corporate houses on business placed directly with insurers, bypassing insurance brokers. More

STOCKS

NSE to start F&O trading in 8 bank stocks
MUMBAI: The National Stock Exchange on Monday said it would start futures and options trading in eight bank stocks. The F&O trading in these stocks would begin from August 29. The eight bank stocks are Andhra Bank, Bank of Baroda, Bank ... More

EDUCATION

IIB to go online by year-end
IN a bid to enhance business, render better client service and improve efficiency, the Indian Institute of Bankers (IIB) is integrating its functions. The total integrated solution is expected to be rolled out before December. IIB has ... More

NBFCS

CIFCO, Sundaram Finance to get $72.5-m IFC loans
CHENNAI-BASED non-banking finance companies, Cholamandalam Investment & Finance Company Ltd (CIFCO) and Sundaram Finance Ltd, are to get loans from International Finance Corporation, Washington. According to IFC's website, CIFCO will get a ... More

FINANCIAL MARKETS

Markets tremble, Sensex down 120 points
THE two bomb blasts in Mumbai today rocked trading on the equities, currency and bond markets, sharply shearing gains made over the last few weeks. Bringing back memories of the 1993 serial blasts, players panicked as news of the first bomb ... More

PRIVATE BANKS

HDFC Bank to expand reach
HDFC Bank plans to open two more branches in Andhra Pradesh by the end of this financial year. Of the two, the bank plans to open one in the port town of Kakinada. This was stated by Mr C.S. Gopinath, regional business manager of the bank, ... More

FINANCIAL INSTITUTIONS

Karnataka body to float special fund for small towns
THE Karnataka Urban Infrastructure Development Finance Corporation (KUIDFC) will float a special fund for developing smaller towns and `hobli'-level towns in the State on lines of the Tamil Nadu Urban Infrastructure Development Finance ... More

INTEREST RATES

PSBs oppose freeing of SB rate
PUBLIC sector banks have opposed the deregulation of the savings bank (SB) deposit rate as demanded by the new private sector banks and foreign banks operating in the country. High-level public sector bankers said that the reduction in the ... More

TRADE & LABOUR UNIONS

Kerala urged to withdraw Bill

IPOS

UCO Bank IPO opens on Sept 3
UCO Bank is aiming at doubling its business to Rs 100,000 crore by the year 2007, according to Mr V.P. Shetty, Chairman. Plans are also under way to adopt core-banking solutions for which the bank has earmarked a capital expenditure of Rs 184 ... More

UCO Bank IPO branches

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