MONEY & BANKING
FOREX
Rupee range-bound; bond prices rally
MUMBAI: The rupee closed at 45.2550/26 per dollar on Friday as against Thursday's closing of 45.28. The domestic currency opened at 45.27 in a lacklustre forex market. "Dollar supplies and demand were more or less evenly matched on Friday. ...
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GENERAL INSURANCE
`Lack of data hampering health cover growth'
LACK of data is hampering development of health insurance in India, speakers at a seminar here said. "The Insurance Regulatory and Development Authority seems to think there is a reluctance on the part of insurance companies to get into health ...
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SMALL SAVINGS
`No change in interest rates on small savings'
THE Government today decided to leave the interest rates on small saving instruments untouched for the time being. It has also been decided to release the first tranche of the market stabilisation fund (MSF) scheme in the first quarter of the ...
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PRIVATE BANKS
Tamilnad Mercantile Bank AGM okays accounts for 6 years, dividends
THE shareholders of Tamilnad Mercantile Bank approved dividends ranging between 70 per cent and 80 per cent for the seven years from 1996-97 to 2002-03 at the annual general meetings held in succession here today. They voted on adopting the ...
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Gelli steps down from GTB board — Cites potential conflict of interest with 'turnaround fund'
MR Ramesh Gelli, Chief Promoter of Global Trust Bank (GTB), today stepped down from the Bank's board, citing potential conflict of interests between his proposed dream project — Turnaround Fund — and the directorship of the bank. ...
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TMB shareholders vote to elect board — 70% polling to pick 10
SHAREHOLDERS of the Tamilnad Mercantile Bank cast their votes on appointing 10 directors to the board at the annual general meeting for 2002-03 held here today. This was part of a series of seven annual general meetings held for the period ...
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PUBLIC SECTOR BANKS
United Bank plans branch in Sikkim
Mr K.N. Prithviraj, Executive Director of UBI, told Business Line on Thursday that the bank's board recently approved the proposals for opening 15 new branches. The first of these branches was opened a couple of weeks ago in Noida near ...
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SBI-Canara venture in Russia to begin operations in April
THE joint venture of SBI and Canara Bank in the Russian Republic is expected to begin operations by next month. Canara Bank officials said that both the banks had already remitted the capital for the purpose. The venture, Commercial Bank of ...
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SBT branches linked to ATMs
STATE Bank of Travancore (SBT) has announced that all its branches in Thiruvananthapuram are now linked to the State Bank ATM network. With this move, customers of all the 34 SBT branches in the city will now be able to access their accounts ...
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TRENDS
New coins test National Institute of Design's mettle
GET ready India, the new Rs 10 and Rs 5 coins will put the country on par with our European brethren as they will be a bimetallic fusion of alloys with gold and silver finish. The 50-paise, Re 1 and Rs 2 coins would use a single metal, while the ...
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Cross Currency Rates
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