The Hindu Business Line : Friday, September 26, 2003

RBI caution on luring funds
THE Reserve Bank of India is understood to have advised banks that have offshore units, against accumulating large foreign currency funds which they may not be able to deploy profitably. This is because lending by OBUs to borrowers in the ... More

Rupee weakens; gilts move up
MUMBAI: The rupee closed at 45.87/88 on Thursday, eight paise down from Wednesday's closing levels of 45.7950/8050 against the dollar. The rupee was in the range of 45.81-45.83 range all day until the fag end when it dipped to 45.87/88 ... More

SOFTWARE

Infy product for Kenya bank

PUBLIC SECTOR BANKS

PNB offshore banking unit in Mumbai
PUNJAB National Bank (PNB) today opened its first offshore banking unit (OBU) in SEEPZ, Mumbai. The OBU, inaugurated by the Chairman and Managing Director, PNB, Mr S.S. Kohli, would provide access to units and developers in special economic ... More

FOREIGN BANKS

Citigroup bullish on business model
HAVING tripled its revenues from India over the past three years, Citigroup hopes to maintain the same rate of growth in the next three to four years and believes its business model in the country needs no change to achieve it, even on the face ... More

Bank of NY to offer outsourced services
BANK of New York is planning to offer to mutual funds and later even to pension funds outsourced services. The bank, with only a representative office in Mumbai, will offer services such as administration, investing and compliance measures for ... More

CREDIT CARDS & DEBIT CARDS

American Express launches e-credit card
The Vice-President and Country Manager for India of American Express Travel-Related Services (TRS), Mr K. L. Muralidhara (left) and the Vice- President of Consumer Cards and Financial Services of American Express TRS, Mr Manoj Adlakha , pose with ... More

EVENTS

Singapore to host 2006 World Bank, IMF meets
SINGAPORE is to host the 2006 Annual Meetings of the World Bank Group and the International Monetary Fund. A planning team from Singapore is here to observe the proceedings and arrangements. Mr Lim Hng Kiang, Second Minister of Finance and ... More

CO-OPERATIVES

Co-op to extend banking hour
MANGALORE: Sri Lakshmananda Multipurpose Co-operative Society Ltd here is planning to introduce extended hour banking to its customers, according to the President of the society, Mr J. Krishna Palemar. Addressing newspersons on Thursday, ... More

PEOPLE

Global Trust accepts Agadi's resignation
INDICATING a fresh round of crisis in the bank, the management of Global Trust Bank (GTB) has on Thursday confirmed the resignations by three of its directors. These directors include Mr Venkappa M. Agadi, former Chairman and Managing Director ... More

TRENDS

With days to go for redemption of RIBs — Banks fix rates on FC deposits at offshore units
BANKS with offshore banking units (OBU) in the country have announced interest rates to be offered on the foreign currency deposit to be held in these units. The interest rates being offered by State Bank of India on its deposit scheme, is ... More

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