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Tuesday, April 27, 2004

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MONEY & BANKING

NBFCS
Madras HC orders fresh probe into Maxima
THE Madras High Court has ordered a thorough investigation into the affairs of the Chennai-based Maxima Investments and Finance, following allegations of suppression of facts and presentation of false statements. Maxima Investments was floated ... More

DEBT MARKET
Need for banks to get RBI nod to access debt market may go
"This will be one more step towards bringing about a level-playing field between public sector and private sector banks." More

PUBLIC SECTOR BANKS
SBI set to expand global operations
STATE Bank of India is set to expand its international operations, courtesy new offices in promising markets. It is looking at more points of presence in West Asia and the Far East. India's largest commercial bank expects to cover 10-15 more ... More

Syndicate Bank to sell United India policies
SYNDICATE Bank is to sign a Memorandum of Understanding with United India Insurance to sell the latter's policies, said its Chairman & Managing Director, Mr Michael Bastian, on Monday. The understanding would most probably be signed in May, ... More

Indian Bank net doubles to Rs 406 cr
INDIAN Bank's net profit for the year 2003-04 has more than doubled to Rs 405.75 crore, from Rs 188.83 crore for 2002-03. The bank's operating profit rose by 36 per cent to Rs 802.46 crore from Rs 590.25 crore previously. The bank also ... More

FINANCIAL INSTITUTIONS
`Mumbai personifies India's ability to cope' — Mr M. Damodaran, CEO, IDBI and UTI
DEFTLY cast, irreverence can be a useful charm. And Mr Meleveetil Damodaran, the burly chief executive of IDBI and UTI, does it with aplomb. "Every time I open my mouth, I seem to make enemies," Mr Damodaran says, ... More

INTERVIEW
`Mumbai is not moving; South India is' — Mr Deepak Parekh, Chairman, HDFC
I do not think that Mumbai is being deliberately sidelined. Actually, the problems are too many. Industry has been vocal about its needs for the city. More

PERFORMANCE
Share Microfin earns Rs 3.8-crore profit
SHARE Microfin Ltd (SML), a community owned micro-finance company with 26,000 poor women as shareholders, has posted an income of Rs 24.70 crore and a profit of Rs 3.8 crore during 2003-04. The company's board declared a dividend of 10 per ... More


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