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GTB to be merged with Oriental bank — No share swap arrangement; all employees to be retained
THE troubled Global Trust Bank (GTB) is to be merged with the Government-controlled Oriental Bank of Commerce (OBC). This was announced by the Reserve Bank of India on Monday. The Hyderabad based private sector bank, however, will continue to ... More

Panic is over for depositors, says OBC chief
THE Reserve Bank of India's swift move to announce the merger of Global Trust Bank (GTB) with Oriental Bank of Commerce (OBC) has come as a wonder-balm for the worried and agitated depositors of GTB, the OBC Chairman and Managing Director, Mr ... More

Scheme of amalgamation — GTB accounts to be transferred to OBC
ALL types of deposit accounts of Global Trust Bank (GTB) will be transferred to Oriental Bank of Commerce (OBC) as per the proposed amalgamation scheme announced by the RBI on Monday. GTB depositors will receive the same rate of interest on ... More

Treading the beaten path
Look at the speech "Reviving confidence in the Indian economy" given by him at the first Dr S. Radhakrishnan Memorial Lecture sponsored by University Grants Commission and organised by the University of Hyderabad, at Hyderabad on September 5, ... More

Goldman Sachs exited GTB in April-June quarter
DID Goldman Sachs get wind of the sordid deal that was awaiting the shareholders of Global Trust Bank? This foreign institutional investor sold a substantial part of the 4.9 per cent holding or 54 lakh shares in the Bank in the period between ... More

Proportion of bad loans to advances is the key
THE scheme of arrangement for the merger between Oriental Bank of Commerce and Global Trust Bank will hold value to the shareholders of the former if the degeneration in the quality of advances of Global Trust Bank were not substantial. By ... More

Oil marketing cos allowed to alter prices in narrow band
THE Government today allowed public sector oil marketing companies limited freedom to alter petrol and diesel prices within a narrow price band. In the process, the consumers can be significantly insulated from global product price shocks. IOC, ... More

Dilemma over hedging receipts — Forex swings fox IT cos
TREASURY departments of software companies are in a flap about the way the rupee seems to be headed the current year. With the dollar having depreciated against the rupee over a large part of the financial year 2003-2004, software companies ... More

Judge declines to hear Birla probate case on personal grounds
THE probate matter of the will of the late Priyamvada Birla came up for hearing before Mr Justice Subhra Kamal Mukherjee of the Calcutta High Court today. The judge, however, declined to take up the matter and released the same absolutely on ... More

DoT raises doubts over Hutch Max FDI limit
WITHIN just a few weeks of the Finance Minister, Mr P. Chidambaram, highlighting the "non-transparent" nature of foreign direct investment (FDI) in Indian telecom companies, the investment promotion cell of the Department of Telecommunications ... More

Colour television biz — BPL closing deal with Sanyo
BPL Ltd, the domestic consumer durables player managed by the T.P.G. Nambiar family, is finally closing the much talked about equity infusion from Japan's Sanyo Electric Company. BPL will transfer its mainstay colour television business into a ... More




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