MONEY & BANKING
FINANCIAL SERVICES
Service levels must go up, says ING Vysya Fin chief
DISTRIBUTION of financial products, be it mutual fund or insurance products, is highly fragmented in this country, the Managing Director and Chief Executive officer of ING Vysya Financial Services, Mr Steven Billet, observed. Speaking to ...
More
FOREX
Rupee plunges; gilts decline
MUMBAI: Driven down by a serious demand-supply mismatch of dollars in the foreign exchange market, the rupee ended at 45.66/68 against the dollar on Friday, a five-and-a-half month low. On Thursday, the rupee ended at 45.49/51.In a ...
More
Canara Bank-Western Union pact
KOCHI: Canara Bank has entered into a franchise agreement with Western Union Financial Services for money transfer facility. It enables instantaneous remittance of money from 197 countries to India by NRI's. The service will be very much ...
More
FINANCIAL PERFORMANCE
Cosmos Co-op Bank posts 125 per cent increase in profit
HARNESSING the latest technology in banking as well as investment activities of the bank, expertise in treasury management seems to have augured well for the Cosmos Co-operative Bank Ltd, which has recorded 125 per cent increase in profit for the ...
More
SOFTWARE
Chilean bank opts for i-flex software
FOLLOWING its strategy to focus on the Latin American market i-flex Solutions Limited has bagged eight to ten clients in the banking sector in regions such as Paraguay, Venezuela and Chile. The company won an order valued at $10 million from ...
More
HOUSING FINANCE
SBT housing scheme for rural poor
STATE Bank of Travancore (SBT) has launched a new "Bhavanasree" rural housing loan scheme for those below the poverty line. Repayment of the loan will be through the own thrift deposits of the beneficiaries with the self-help groups, according ...
More
Cheap housing loans for poor urged
THE real estate industry has called for measures to promote low-cost housing for the poor. Defining low-cost housing projects as tenements of less than 500 square feet built-up area, real estate developers have asked the Government to provide ...
More
Canara Bank exclusive housing loan for KWA employees
THIRUVANANTHAPURAM: Canara Bank has announced the launch of a housing loan scheme designed exclusively for the employees of the Kerala Water Authority (KWA). According to a bank press release, the scheme will be open to all KWA ...
More
CONSUMER FINANCE
Andhra Bank to focus on two-wheeler loans
ENTHUSED by the response to the two-wheeler loans and the subsequent recovery ratio, Andhra Bank has decided to focus on two-wheeler segments in its auto finance portfolio. Announcing this on the eve of launching the new motorcycle variant ...
More
RBI & OTHER CENTRAL BANKS
Banks' ad hoc committees get more time
THE Reserve Bank of India has decided to extend the time given to the ad hoc committees constituted by banks by six months, enabling them to complete their work within one year of their constitution. In a circular issued to all scheduled ...
More
PRIVATE BANKS
Global Trust Bank awaits RBI nod for fresh capital infusion
A DEAL for fresh infusion of capital into the cash-starved Global Trust Bank (GTB) is expected to be finalised before the end of the month along with the announcement of its annual results. According to sources, the bank has approved a ...
More
PUBLIC SECTOR BANKS
Corpn Bank, ICFAI sign MoU
MANGALORE: Corporation Bank and ICFAI University have signed a memorandum of understanding (MoU) to publish research papers submitted and discussed at the Bank Economists' Conference (BECON) 2002, as books. Corporation Bank, under the ...
More
BoI's Tiruchi off-site ATM
MADURAI: Bank of India's first off-site ATM in Tiruchi district was opened at Cantonment in Tiruchi down on Thursday. Speaking on the occasion, Mr B.G. Kurup, Zonal Manager, Coimbatore Zone, said the off-site ATM was the fourth in ...
More
CORPORATE BONDS
KSEB bonds to be redeemed
THIRUVANANTHAPURAM: The public sector Kerala State Electricity Board (KSEB) has announced that 50 per cent (Rs 100 crore) of the face value of the non-SLR bonds for Rs 200 crore issued by the public utility during 1998-99 would mature on ...
More
NON-PERFORMING ASSETS
Lok Adalat in Pudukottai
MADURAI: A total of 26 Lok adalats were organised in various parts of Pudukottai district by The Pudukottai district Legal Service Authority jointly with various nationalised banks during 2003-04 for recovery of non-performing assets. ...
More
ALLIANCES & JOINT VENTURES
ICICI Prudential ties up with Federal Bank
ICICI Prudential has tied up with Federal Bank to accept premium from any of its customers in Kerala through the bank's 327 branches across the State. Currently, customers can make renewal premium payment through cash or the bank's same branch ...
More
Cross Currency Rates
Comments & Letters to the Editor to: bleditor@thehindu.co.in
Subscribe to: Business Line
|
RSS Feeds