MONEY & BANKING
FOREX
India ranks 8th among Top 15 debtors
FOR a country that has over a hundred billion US dollars `tucked away in its coffers', it seems a waste of time to worry about the fact that it owed the rest of the world $112 billion at the end of December 2003. But it needs to be kept in ...
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Rupee weakens; g-secs move up
MUMBAI: The rupee marginally weakened against the US currency for the second consecutive session to close at 46.35/37 a dollarDealers said demand for dollars during the fag end of trading, coupled with a strengthening dollar overseas, led ...
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FINANCIAL PERFORMANCE
Indian Bank net rises to Rs 118 cr in Q1
INDIAN Bank's net profit for the first quarter ended June works out to Rs 118.13 crore, about seven per cent higher than in the same quarter last year. Bank officials said that net profit would have been higher but for the new provisions for ...
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NBFCS
Tata Finance to hike authorised capital
TATA Finance Ltd is amending its articles of association to increase its authorised capital to accommodate an issue of cumulative redeemable preference shares for 175 crore. The company has decided to increase the authorised capital base from ...
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GENERAL INSURANCE
4 in race for GIC top slot
TOP-LEVEL changes are expected to take place at the General Insurance Corporation of India with the impending retirement of its top management. Sources said that the Finance Ministry has short-listed four names for appointment as the Chairman ...
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PRIVATE BANKS
ING Vysya's ECB offering oversubscribed
THE ING Vysya Bank's maiden syndicated external commercial borrowing offering was oversubscribed. The loan was in the nature of a revolving credit facility. This facility allowed customers to borrow a specified maximum amount during a specified ...
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PUBLIC SECTOR BANKS
Bharti Broadband bags Bank of India deal
BHARTI Broadband and Data Group has bagged a contract for the core-banking project of Bank of India. The project, would be implemented in association with Hewlett Packard India (HP) and involves setting up of a wide area network for providing ...
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SHORT TERM INSTRUMENTS
Higher cut-off price at 91-day T-Bill sale
THE weekly auction of the 91-day Treasury bill worth Rs 2,000 crore witnessed a higher cut-off price of Rs 98.84 against the previous week's cut-off price of Rs 98.79. The yield at the cut-off price ended lower at 4.70 per cent against 4.91 per ...
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CREDIT CARDS & DEBIT CARDS
ICICI Bank unveils `Easy Deposit' card
ICICI Bank Ltd on Wednesday announced the launch of `Easy Deposit Card', a credit card available to the bank's customers with a fixed deposit account. The card will be offered free to both existing and new customers, said a press release. ...
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TRADE & LABOUR UNIONS
Bank unions plan 2-day stir — IBA rules out 20-pc wage hike
ANOTHER bank strike is on the cards. Bank unions have planned a two-day strike on October 5 and 6 to press their demands for wage revision. They went on a one-day strike on Tuesday. The United Forum of Bank Unions (UFBU), which met in Mumbai ...
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CO-OPERATIVES
`Credit co-ops should provide better service'
CREDIT co-operative societies should look at providing better services to customers to sustain themselves in the competitive environment , according to the President of the South Canara District Central Co-operative Bank, Mr M.N. Rajendra Kumar. ...
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Cross Currency Rates
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