The Hindu Business Line : Saturday, April 02, 2005

Bond trading dull
MUMBAI: The bond market was dull with only Rs 617 crore worth volumes being reported, as several banks stayed away on account of financial year closing, said dealers. The 7.38 per cent 10-year-benchmark paper closed at Rs 105.19/20 (6.67 ... More

HOUSING FINANCE

Home loans set to grow at 30-40 pc
THE home loans market grew at 30 per cent in the just concluded fiscal, and bankers and housing finance companies expect the sector to maintain the current growth rate in the next year. According to them, the growth in the housing sector will ... More

LIFE INSURANCE

LIC's Future Plus gets good response
LIFE Insurance Corporation of India `Future Plus' scheme has evoked good response from the investing public. The Unit Linked Investment and Pension plan was launched on March 3. Coimbatore division alone (comprising Coimbatore, Erode and ... More

PRIVATE BANKS

Karnataka Bank eyes Rs 20,000-cr turnover
KARNATAKA Bank Ltd, which surpassed business turnover target of Rs 17,000 crore during 2004-05, plans to achieve a business turnover of Rs 20,000 crore during 2005-06. The bank is planning to mobilise deposits of Rs 12,500 crore and ... More

New part-time Chairman of Dhanalakshmi Bank
MR A.D. Navaneethan, Director, Dhanalakshmi Bank, has been appointed as part-time Chairman of the Bank. He will hold charge for a period of 3 years effective from March 30. Mr Navaneethan served as the Chairman of Karur Vysya Bank for nearly ... More

PUBLIC SECTOR BANKS

Syndicate Bank pays interim to Govt
NEW DELHI: Syndicate Bank on Thursday paid an interim dividend of Rs 20.81 crore to the Government. The cheque was handed over to the Finance Minister, Mr P. Chidambaram, by the bank's Chairman and Managing Director, Mr N. Kantha ... More

INTEREST RATES

SBI hikes NRI, FCNR deposit rates
STATE Bank of India has revised upwards the interest rates on NRI term deposits, with effect from Friday. The rates are valid for all fresh deposits and renewals of existing deposits made in April, according to a press release. ... More

GOVT BONDS

Govt stock sale
THE Central Government has announced that it would raise Rs 8,000 crore through the auction of two dated securities using the multiple price auction method. The Reserve Bank of India will conduct the auctions on April 5. According to an RBI ... More

CORPORATE BONDS

IRFC raises 13 b yen via bonds
INDIAN Railway Finance Corporation Ltd (IRFC) has issued a five-year international bond worth 13 billion yen. This is the first yen-denominated public issue to come out of India since 1991. Priced at par, the five-year bonds carry a coupon of ... More

MERGERS & ACQUISITIONS

RBI okays IDBI, Bank merger
THE Reserve Bank of India has approved the scheme of amalgamation of IDBI Bank Ltd with IDBI Ltd. The scheme will come into effect from April 2, said a press ... More

TRADE & LABOUR UNIONS

Officers' body takes up cause of sacked HSBC staff
THE Maharashtra State Committee of the All-India Bank Officers' Association has taken up the cause of two HSBC officers whose services were recently terminated. The AIBOA says the termination is illegal, as these officers were not served prior ... More

INTERVIEW

'Investment credit schemes vital for farm growth'
ONE of the first policy initiatives of the UPA Government was to ensure adequate credit to farmers. This has given a boost to fund flows to the agriculture sector over the past year. Nabard is an apex organisation monitoring the flow of funds to ... More

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