MONEY & BANKING
FINANCIAL SERVICES
KSFE-Western Union pact
KOCHI: The Western Union, an international company in money transfer services, has entered into strategic partnership with Kerala State Financial Enterprises Limited (KSFE) through its authorised agent, Paul Merchants Ltd. According to a press ...
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INSIGHT
Dynamics of an oil shock
CRUDE oil futures continued their upward surge to come within striking distance of $50 per barrel level. We are in for an `oil shock' and should look at its economic impact on the global economy. Interestingly, the Federal Reserve monetary ...
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On savings in a season of lending
Savings are one half of the raison d'etre for the existence of a bank and, hence, need to be promoted with the same gusto that marks the marketing of loan products. To talk of savings to an industry charged up on retail lending seems like pla ying spoilsport. But a comeback by savings may be necessary in the long term.
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LIFE INSURANCE
LIC's Bima Plus elicits good response
BIMA Plus, the sole scheme of LIC linked to the capital market, is doing well and so far more than two lakh policies have been sold all over the country and more than 2,000 in the Visakhapatnam division during the current fiscal, according to Mr ...
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GENERAL INSURANCE
GIC staff extends solidarity to bank stir in Kerala
KOCHI: The General Insurance Officers All India Association (GIOAIA), Kerala unit, has declared that it would extend solidarity to the one-day strike on Aug 24 called by the bank employees and officers' unions demanding revision of wages ...
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DEBT MARKET
Bonds get support from insurance cos
BONDS firmed last week as insurance companies stepped in to support the markets though traders remained nervous as oil prices and inflation appeared to go out of control. Traders, however, said that the fire fighting measures initiated by the ...
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PRIVATE BANKS
Karnataka Bank office opened in Mangalore
MANGALORE: The Chairman and CEO of Karnataka Bank, Mr Anantakrishna, inaugurated the new premises of the registered office of the Karnataka Bank Employees' Association at Kodialbail in Mangalore recently, according to a press release by ...
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PUBLIC SECTOR BANKS
Corpn Bank opens 721st ATM in Mangalore
MANGALORE: Corporation Bank opened its 721st ATM in the country near Mangaladevi Temple in Mangalore recently. A bank release said here on Saturday that the President of the Kanara Chamber of Commerce and Industry, Mr R.D. Kini, ...
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FINANCIAL INSTITUTIONS
RBI torpedoes SIDBI plan to become bank
The RBI is of the view that since we are a financial institution, we would have to adopt some other method to take up activities such as working capital finance: SIDBI CMD, Mr V.K. Chopra
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INTERVIEW
`Interest rates have bottomed out'
MR M. Venugopalan took over as Chairman and Managing Director of Bank of India in August 2003 after a 3-year stint with Union Bank of India as Executive Director. It was a homecoming of sorts for him as he had spent the major part of his ...
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Cross Currency Rates
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