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Tuesday, August 10, 2004

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MONEY & BANKING

INFORMATION TECHNOLOGY
Lord Krishna Bank joins RTGS
BANGALORE: Lord Krishna Bank it has joined the real time gross settlement systems of the Reserve Bank of India , a bank news release said.

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GENERAL INSURANCE
AP to launch universal health insurance scheme for children
THE Andhra Pradesh Government has decided to launch a universal health insurance scheme to take care of the health needs of children suffering from various ailments. The modalities of the scheme would be finalised after studying a model being ... More

FIEO seeks lower capitalisation norm for health insurance cos
THE Federation of Indian Export Organisations (FIEO) has urged the Commerce Ministry to make a case with the Finance Ministry for lowering the minimum capitalisation norm for health insurance companies. "We have approached the Commerce ... More

PRIVATE BANKS
HDFC Bank seeks to hike capital market exposure
HDFC Bank on Monday said it has applied to the RBI for increasing its capital market exposure limits from the current five per cent. The Finance Minister in his Budget speech had announced that banks with a strong risk management system could ... More

GTB full year net loss widens to Rs 812 cr
DESPITE additional recoveries of Rs 323 crore from non-performing assets (NPAs) and written-off accounts during the last fiscal year, Global Trust Bank (GTB) has suffered a huge net loss of Rs 812.38 crore. It had incurred a net loss of Rs ... More

FINANCIAL INSTITUTIONS
No clear signals on IFCI merger plans
IFCI Ltd is proving to be too hot to handle even as it counts its last days. With political pressure to rework the merger plans for the institution getting intense, the Ministry of Finance now appears keen to distance itself from the fate that ... More

PFC plans floating rate for future loans
PFC has already brought down its project lending rates to as low as 7.25 per cent for all high-rated corporates and utilities. More

GOVT BONDS
Bonds plunge on fears of interest rate hike
BOND prices plunged by over a rupee on Monday as yields rose to their highest in eighteen months, as the Government debt sale had higher than expected yields amid fears of rising interest rates, said dealers. The yield on 10-year benchmark 7.37 ... More

TRADE & LABOUR UNIONS

  • BEFI concern over UPA policies

    CO-OPERATIVES
    RBI freezes operations of South Indian Co-op Bank
    THE Reserve Bank of India on Monday froze all operations of The South Indian Co-operative Bank Ltd. It allowed depositors to withdraw a sum not exceeding Rs 1,000 from the Mumbai-based urban co-operative bank. The bank is not allowed to advance ... More

    South Indian Co-op Bank: Loyal depositors feel betrayed
    THE South Indian Co-operative Bank, which had to bear a run on its deposits on Monday, has seen better days. The bank, tucked away in the bylanes of Matunga suburb, the stronghold of the South Indian community in the city, was once a ... More

    `Govt intervention in cooperative banks needed'
    REASONABLE restriction of the Government is needed in the functioning of cooperative sector, according to Mr G.R. Krishnadas, Managing Director of Central Arecanut and Cocoa Marketing and Processing Cooperative (Campco) Ltd. He was addressing ... More

  • Nabard's refinance scheme for Kerala co-op bank
    Cross Currency Rates



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  • Top Stories
    WTO framework agreement: No cause for celebration


    Rs 115-cr revival plan proposed for Hind Antibiotics

    PFC plans floating rate for future loans

    Bank guarantee for mobile operators to be cut 50 pc

    GTB full year net loss widens to Rs 812 cr

    Service tax case: SC dismisses plea against tribunal order

    Tyre stocks race ahead on price increase hopes

    Port restriction on natural rubber imports scrapped

    Looking back
    Aug. 1-Aug. 7
    Forex reserves decline sharply by $1.53 billion

    Bonds' outlook weak

    Entire motor spectrum to be detariffed

    Corporate floaters not appealing enough to investors

    Provisioning linked to age of NPAs — RBI asks FIs to adopt graded system

    Depreciation on investments, zero NPAs — It's double whammy for banks

    Banks continue to have the cake and eat it too


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