MONEY & BANKING
FOREX
Forex dealers look for more rupee volatility
FOREX dealers on Wednesday were torn between watching the India-Pakistan cricket series finale, and taking advantage of the sudden surge in the value of the rupee to make a quick buck. As the swift appreciation in the rupee has bestowed the ...
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Rupee up 12 paise
MUMBAI: The rupee's rise on Wednesday was more moderate than Tuesday as it ended at 44.75 against the dollar, up 12 paise from the previous close. The central bank was said to have been out of the market also as dollars rained in ...
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CONSUMER FINANCE
Corpn Bank, Bajaj Auto ink pact
MANGALORE: Corporation Bank has entered into a marketing tie-up with Bajaj Auto Ltd to finance two-wheelers of the company to its customers. In a press release here on Wednesday, Mr M.D. Mallya, General Manager of the bank, said that the ...
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GENERAL INSURANCE
GIC stops reinsurance of third-party motor risk
The restriction in reinsurance support was prompted by high claims made by some of the primary general insurers, especially the private sector companies. "Motor insurance is a bleeding portfolio, and such high claims ratios in the industry cannot be sustained," Mr Ramanujam said.
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PRIVATE BANKS
Lord Krishna Bank goes aggressive on expansion
LORD Krishna Bank has embarked on an aggressive campaign to improve its services in the South. As part of this campaign, the bank has shifted its branch in Coimbatore to a more strategic location. The Chief Executive Officer and Managing ...
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PUBLIC SECTOR BANKS
Canara Bank women's branch at Pattom
THIRUVANANTHAPURAM: Canara Bank will open its first Mahila Banking Branch in the State at Pattom here on Friday. Announcing this, a bank spokesman said that Princess Aswathi Tirunal Gouri Lakshmi Bayi would formally inaugurate the ...
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FOREIGN BANKS
Bank of Bahrain joins BANCS ATM network
BANK of Bahrain and Kuwait (BBK) has announced that it has joined the BANCS ATM network, a network of 12 banks. In a press release here on Wednesday, BBK said the new arrangement would share a network of 2,000 ATMs across the country. Eight ...
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GOVT BONDS
Govt to re-issue 6.2 pc UTI bonds for Rs 328 crore
THE Government has announced the re-issue of "6.2 per cent Government of India UTI Bonds, 2010" for a notified amount of Rs 328 crore. The bonds would be issued on Wednesday to the administrator of specific undertakings of UTI for meeting their ...
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RBI repos see Rs 55,475 cr sucked out
THE Reserve Bank of India (RBI) has set a new record in mopping up excess liquidity through repurchase operations. On Wednesday it mopped up a record Rs 55,475 crore, through one-day repo auctions. Today's mop-up comes after Tuesday's ...
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CORPORATE BONDS
UCO Bank raises Rs 300 cr via bonds
UCO Bank has raised Rs 300 crore from the capital market by way of private placement of unsecured redeemable non-convertible subordinated bonds. The issue, which opened for subscription on March 22 and was scheduled to close on March 30, was ...
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IDBI Bank bonds issue
NON-PERFORMING ASSETS
Federal Bank takes possession of pledged property in Chennai
FEDERAL Bank has taken possession of a pledged property in the city from a borrower who did not repay the bank's loan. Ramco Super Leathers had borrowed the equivalent of Rs 12.75 crore in 1999 and another Rs 3.17 crore in 2002. The company had ...
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TRENDS
Pack the bags, banks will fund your holiday
WITH banks eager to sell personal loans for any purpose, customers too are fast evolving. `Holiday finance' is emerging as a new growing area of business for banks. To tap this opportunity, banks such as HDFC Bank - which has an arrangement ...
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Cross Currency Rates
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