MONEY & BANKING
FOREX
Rupee steady; gilts in range
MUMBAI: Although pressure due to rising oil prices weakened the rupee to 45.92 against the dollar in the early session, the domestic currency closed more or less unchanged at 45.8650. Dollar sales by a large software company and public ...
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SOFTWARE
HCL Tech develops risk tool for banks
HCL Technologies has developed an operational risk management and measurement engine called OpRisk Shelter to identify, measure and manage expected loss related to operational risks of a bank. "The development of a solution for monitoring ...
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LIFE INSURANCE
LIC (South) first premium income at Rs 672 cr in H1
THE Life Insurance Corporation's South Zone division on Wednesday announced that its new business premium from individuals in the first half of 2004-05 was Rs 672 crore (Rs 263 crore), up by 155.4 per cent in relation to the previous year's ...
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LIC picks up 10% stake in TNPL
LIFE Insurance Corporation of India has acquired 69.63 lakh shares representing a 10 per cent stake in Tamil Nadu Newsprint and Papers Ltd (TNPL), according to information provided by TNPL to stock exchanges. LIC acquired the shares on ...
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RBI & OTHER CENTRAL BANKS
RBI asks `problem' cos not to repay deposits before term
FOR the purpose of permission to prepay accepted public deposits, the Reserve Bank of India has decided to segregate companies that accept such deposits into `problem' and normally run companies. Expressing concern over non-banking entities ...
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PUBLIC SECTOR BANKS
Dena Bank loans on easier terms for M&M tractors
DENA Bank today informed that it has signed an MoU with Mahindra & Mahindra Ltd (M&M) to extend financial assistance to farmers buying M&M tractors. Against the norm of 15-25 per cent margin money, the bank will finance M&M tractors a
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FOREIGN BANKS
HSBC eyes acquisitions here
The bank is planning investments of about $400 million in the Indian market, which would take its cumulative investment to $1 billion.
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NON-PERFORMING ASSETS
Karnataka Bank opens asset recovery branch in Mumbai
MANGALORE: The Chairman and Chief Executive Officer of Karnataka Bank, Mr Anantakrishna, inaugurated the bank's asset recovery branch in Mumbai recently. A release said here that the bank has already opened an asset recovery branch in ...
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SHORT TERM INSTRUMENTS
T-bill sale
MUMBAI: The Reserve Bank of India has set a cut-off price of Rs 98.75 (cut-off yield 5.08 per cent) at the 91-day treasury bill auction held on Wednesday. This cut-off price was marginally lower than the previous cut-off at Rs 98.76. Of ...
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MERGERS & ACQUISITIONS
When one plus one is eleven
ONE plus one is two. For government bankers talking of mergers in their sleep, one plus one is 11. Bank chairmen, most of whom will retire through 2005 and have nothing to lose, are up on the idea of creating big balance sheets with most going ...
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Cross Currency Rates
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