The Hindu Business Line : Friday, December 05, 2003

Rupee stays firm; bond prices crash
MUMBAI: The rupee ended at 45.6250 against the dollar on Thursday, unchanged from Wednesday's levels, in a lacklustre forex market. After opening the day at 45.61, the domestic currency touched an intra-day low of 45.64, before climbing ... More

STOCKS

20 lakh Global Trust shares change hands in single trade
CLOSE on the heels of HSBC Bank picking up Commonwealth Development Corporation's (CDC) holding in UTI Bank, over 20 lakh shares of Global Trust Bank (GTB) changed hands on Bombay Stock Exchange (BSE) in a single block deal on ... More

SOFTWARE

ABN-Amro picks Finacle

HOUSING FINANCE

Canara Bank cuts home loan rates
CANARA Bank has announced that it has reduced its interest rate on home loans by 25 basis points to 7.5 per cent on floating rate loan up to five years. For loans above five years, the rates have been slashed from 8.75 per cent to 8.25 per ... More

LIFE INSURANCE

SBI Life bonus on pension policy

PRIVATE BANKS

SIB plans rights issue
SOUTH Indian Bank plans a rights issue at the ratio of 1:3 before the end of next March. The issuewould be priced between Rs 38 and Rs 45, Mr A. Sethumadhavan, bank's Chairman, told Business Line. "The intention is not only just to ... More

BankMuscat, Sabre, Keppel sign pact for Centurion Bank
THE Oman-based BankMuscat, Rana Talwar-headed, Sabre Capital Worldwide Inc, and Keppel Corporation of Singapore on Thursday signed the shareholder agreement of Centurion Bank. The final approval for the scheme of recapitalisation of the ... More

TMB directors to meet RBI officials today
The meeting takes place amid controversy about the ownership of the private bank. More

INTEREST RATES

Benchmark PLR may be in double digits
THE dust that has been kicked up over the benchmark prime lending rate (PLR) appeared to suggest that a sharp decline in lending rates was in the offing. The RBI's preference for soft interest rates and its call to financial intermediaries to ... More

SECURITISATION

Securitisation is key tool for banks, says Crisil
SECURITISATION, as a financial management tool, would be highly effective in the management of the asset liability profiles of banks, according to Crisil. The banking business is inherently characterised by shorter-term liabilities funding ... More

FIXED DEPOSITS

BoB cuts domestic term deposit rates

MERGERS & ACQUISITIONS

HSBC open offer for UTI Bank stake on Jan 31
HSBC on Thursday announced that its open offer to the shareholders of UTI Bank to buy 20 per cent equity as required under SEBI regulations will commence on January 31. The offer will be at Rs 90 per share, the same price at which HSBC has ... More

INTERVIEW

`Nabard needs teeth for better rural banking'
MS Ranjana Kumar, the banker credited with turning around Indian Bank, met newspersons in Mumbai on Wednesday, some 10 days after taking charge as Chairperson of the National Bank for Agriculture and Rural Development. Settling down in her new ... More

PEOPLE

New CMD for Allahabad Bank
KOLKATA: Mr Onkar Nath Singh took charge as the Chairman and Managing Director of Allahabad Bank in Mumbai today. Prior to this, Mr Singh was the Executive Director of Bank of ... More

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