MONEY & BANKING
FARM CREDIT
Pvt banks sceptical on farm lending targets
WHILE the public sector banks have heartily agreed to meet the Finance Minister's ambitious targets of 30 per cent growth in farm lending, most private sector banks are sceptical about the numbers. "How can we draw up such aggressive targets ...
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Vijaya Bank confident of agri target
VIJAYA Bank is confident of achieving the 30 per cent target in agriculture lending and is hopeful of surpassing it. In an informal chat with presspersons here, the Executive Director of the bank, Mr P.A. Sethi, said, "Blue print in this ...
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INSIGHT
Cap public deposits in RNBCs
The RBI group has favoured a limit on public deposits garnered by RNBCs linked to net-owned funds to provide some comfort to the public depositors.
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FOREX
Rupee rallies; gilts recover
MUMBAI: The rupee showed signs of revival on Wednesday as it closed at 45.72/77 against the greenback. It was up 53 paise from the eleven-month low of 46.25/26, at which it had closed on Tuesday. Dollar selling by State-run banks, ...
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LIFE INSURANCE
Birla Sun Life offers scheme for women
BIRLA Sun Life Insurance has launched a unit-linked insurance plan for women called "Woman First Plan." The plan combines financial security along with potential for investments. The scheme is designed to offer high growth potential along ...
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GENERAL INSURANCE
IRDA restores special discount on marine hull
THE Insurance Regulatory and Development Authority (IRDA) has decided to restore the special discount of 5 per cent on marine hull portfolio. The decision, according to sources, follows the representations made by the Indian National Ship ...
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PRIVATE BANKS
GTB gets extension for declaring results
GLOBAL Trust Bank Ltd (GTB) has sought and obtained an extension of time from the Reserve Bank of India for publishing the accounts for the financial year 2003-04 in terms of Section 31 of the Banking Regulation Act, 1949. In a communiqué to ...
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CORPORATE BONDS
Banks opt for bonds route to raise capital
Bankers said that they would require additional capital in view of the big push being made for agriculture credit.
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NON-PERFORMING ASSETS
New requirements for NPA provisioning
BANKS have to introduce graded higher provisioning based on the age of non-performing assets that have been in the doubtful category for more than three years effective from March 31, 2005, according to a circular issued by the RBI. At ...
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FIXED DEPOSITS
FCNR(B) deposit rates move northwards again
FOREIGN Currency Non Resident (Banks) deposit rates have started inching up once again. The hike has been to the tune of about 20-25 basis points across maturities. A basis point is one hundredth of a percentage point. A one-year deposit ...
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INVESTOR GRIEVANCES
RBF Nidhi issue
CHENNAI: The RBF Nidhi Depositors' Welfare Association (T. Nagar) has started legal action against the nidhi's Chairman, Justice (retd.) T.N. Vallinayagam, for allegedly violating a High Court order about the operation of RBF's bank ...
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EVENTS
CanBank holds conference
MANGALORE: Canara Bank has held a business plan conference of the managers of its branches in Hassan, Chikmagalur and Kodagu districts, in Hassan town. A press release by the bank's Circle Office in Mangalore said that the objective of ...
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Cross Currency Rates
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