MONEY & BANKING
FOREX
Relaxation of RBI norms brings new advertisers to large foreign channels
SMALL channels beware! The big broadcasters are wooing advertisers such as `Hamdard', `Lijjat Papad', `502 Pataka Chai' and other local detergent and footwear brands. For, private television channels that are currently uplinking from abroad can ...
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Forex kitty swells $685 m due to dollar mop-up
AIDED in large part by consistent trade flows, the country's forex kitty grew stronger by $685 million to touch $108.360 billion for the week ended, February 27, 2004, as against the total reserves of $107.506 billion, the previous week, as per ...
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PRIVATE BANKS
HSBC in a quandary over UTI Bank deal?
WHEN the UK-based HSBC Ltd struck a deal with compatriot CDC Capital to buy its 20 per cent ownership of UTI Bank for a little over Rs 410 crore, it was touted as a winning manoeuvre in a gradually opening Indian banking industry. Three months ...
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TMB board election sparks factionalism, infighting
THERE is hectic activity among the shareholders of Tamilnad Mercantile Bank as those seeking election to the board of directors scurry to corner votes in their favour. Talking to a cross-section of members of the community, a striking point is ...
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Transfer of Sivasankaran's shares: TMB told to decide on `group'
THE Madras High Court has directed the board of directors of Tamilnad Mercantile Bank to first form "an opinion as to whether the individuals who have sought transfer of shares, the quantity in respect of each individual being below 5 per cent, ...
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FINANCIAL INSTITUTIONS
FIs must wake up to `new' customer needs
THE development finance institutions (DFIs) have a future only if they are able to transform themselves, according to Mr G.N. Bajpai, Chairman, Securities and Exchanges Board of India. Financial institutions have to reposition themselves and ...
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CREDIT MARKET
Bank credit up Rs 4,785 cr
GROSS bank credit has increased by Rs 4,785 crore for the fortnight ended February 20, 2004, to touch Rs 8,10,965 crore. This is inclusive of food credit at Rs 35,268 crore and non-food credit at Rs 7,75,697 crore, as per the latest RBI ...
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ALLIANCES & JOINT VENTURES
PNB enters into pact with ECGC
MUMBAI: Punjab National Bank has entered into a corporate agency agreement with Export Credit Guarantee Corporation of India Ltd (ECGC), for marketing the latter's insurance products through its branch network. This arrangement will ...
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Cross Currency Rates
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