MONEY & BANKING
REGIONAL RURAL BANKS
Malaprabha Grameena Bank H1 net up 21 pc
MALAPRABHA Grameena Bank, Dharwad, has registered a net profit of Rs 19.53 crore in the first six months of the current financial year compared to Rs 16.12 crore during the corresponding period of last financial year, registering a growth of ...
More
INSIGHT
PSBs must cash in on product innovation
What PSBs usually call product development is basically re-positioning, re-packaging or re-classifying existing products. Real breakthroughs can come only with product innovation.
More
Planning Commission controversy — Left misses historic chance!
To kill it, the Government decided to disband all the Commission's consultative committees, which comprised a mix of desi economists of the Left variety, executives of the World Bank and representatives of international consulting firms ...
More
FOREX
Rupee slips; bonds firm
MUMBAI: The rupee closed marginally weaker on Tuesday at 45.8650/8725 against the dollar. On Monday, the domestic currency had closed at 45.84/85. Some amount of dollar supplies in the early trades led the rupee to touch the day's ...
More
LIFE INSURANCE
LIC invests Rs 40,000 cr in markets during H1
LIFE Insurance Corporation has invested about Rs 40,000 crore in the securities market during six months ended Sepetember 2004, according to Mr R.N. Bharadwaj, Managing Director, LIC. "The book value of investments made in the six-month ending ...
More
LIC plans 4 new products
LIFE Insurance Corporation of India will be launching four new products by the year-end, said Mr T. Chattopadhyay, South-Central Zonal Manager, after inaugurating the new building of the LIC branch at Seethammadhara here on Monday. The new ...
More
Bajaj Allianz Life growing at faster clip in South
THE Southern States are the fastest growing areas for Bajaj Allianz Life Insurance, and have contributed about 17 per cent of its gross written premium of Rs 250 crore in the first half of the current fiscal. The South zone's business is next ...
More
GENERAL INSURANCE
Unions seek merger of four public sector insurance companies
THE All India Insurance Employees Association (AIIEA) has called upon the Government to strengthen the four public sector insurance companies by merging the four to tap the entire insurance business in the country. The consolidation of ...
More
PRIVATE BANKS
ICICI Bank offshore unit in Bahrain
ICICI Bank has announced launch of its offshore banking unit in Bahrain on October 10, 2004. The unit located at Manama Centre in Bahrain would offer several products such as real time remittances, savings accounts, time deposits, India-based ...
More
FOREIGN BANKS
ABN Amro joins RTGS system
ABN Amro Bank today announced to customers its offer of straight through processing (STP) on Real Time Gross Settlement (RTGS) system. It is expected that high value clearing of cheques will benefit from this system; the high value clearing ...
More
GOVT BONDS
FIMMDA valuation of illiquid bonds draws flak
EVEN as money market participants fall back on the Fixed Income Money Market and Dealers Association (FIMMDA) for valuations of illiquid securities while drawing up their balance sheets, a section of them have expressed dissatisfaction over the ...
More
Govt to keep to brrowings schedule
THE Government will go ahead with its market-borrowing programme as scheduled. This is despite the upward pressure on interest rates due to high inflation. Stating that there was no need for undue concern, Mr D. Swarup, Secretary Budget, ...
More
NON-PERFORMING ASSETS
`Revamp corporate debt rejig facility'
THE PHD Chamber of Commerce and Industry (PHDCCI) has called for urgent action from the Reserve Bank of India for revamping the corporate debt restructuring (CDR) facility. In a statement, the chamber said that the CDR facility needs to be made ...
More
SHORT TERM INSTRUMENTS
Higher cut-off at T-bill sale
THE Reserve Bank of India set a higher cut-off at 5.16 per cent (cut-off price Rs 98.73) at the 91-day Treasury bill auction held on Tuesday. Cut-off was set at 5.08 per cent at the previous auction. Of the 65 competitive bids worth Rs ...
More
ALLIANCES & JOINT VENTURES
SBI, LIC come together for funding infrastructure projects
THE country's biggest banker and the largest insurer have joined hands to provide adequate long-term finance to infrastructure projects . State Bank of India (SBI) and Life Insurance Corporation of India (LIC) on Tuesday signed an MoU, which ...
More
ECONOMIC OFFENCES
United Bank not to review Benz Auto account
UNITED Bank of India has no plans to review the Kerala-based Benz Automobiles Ltd account. "The decision to advance Rs 42 crore of loan to Benz Automobiles is based on sound commercial consideration and, therefore, the question of review does ...
More
Cross Currency Rates
Comments & Letters to the Editor to: bleditor@thehindu.co.in
Subscribe to: Business Line
|
RSS Feeds