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Saturday, May 14, 2005

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MONEY & BANKING

REGIONAL RURAL BANKS


RRBs allowed to do insurance biz on referral basis
AFTER permitting Urban Co-operative Banks to conduct insurance business on a referral basis, the Reserve Bank of India has now extended this facility to Regional Rural Banks (RRBs) as well. According to a press release from RBI, RRBs will now ... More

FOREX


Rupee tad weaker; bond prices up
MUMBAI: The rupee weakened marginally against the US dollar in the forex market on Friday. The dollar continued its gains on strong retail sales and overseas support. On Friday the rupee closed trade at 43.42/43, lower than Thursday's ... More

LIFE INSURANCE


Tata AIG Life reversionary bonus at 3.5 pc
TATA AIG Life has announced a reversionary bonus of 3.5 per cent of the sum assured for the financial year ended 2004-05. This bonus is applicable for all eligible participating plans. This reversionary bonus is declared on the "sum assured ... More

PRIVATE BANKS


Kotak Mahindra eyes Rs 10,000-cr biz
KOTAK Mahindra Bank expects to record a robust growth of over 60 per cent in its business volumes and report a balance sheet size of around Rs 10,000 crore for the current fiscal. Talking to newspersons here on Friday, its Group Head, Retail ... More

Bill to lift voting rights cap in banks introduced
The RBI may specify the minimum percentage of shares to be acquired in a banking company if it considers that the purpose for which the shares are proposed to be acquired by the applicant warrants such minimum shareholding. More

FOREIGN BANKS


Consumer forum awards Rs 20 lakh against Standard Chartered Bank
`Sending thugs to the house of borrowers and threatening them was a despicable act.' More

CREDIT MARKET


`Banks must recognise credit rating of SSIs by independent agencies'
SMALL-scale industries can get themselves credit-rated by independent agencies not just to smoothen the process of getting funds but also to showcase their reputation and capability to prospective customers, according to Mr S. Venkatesan, ... More

CREDIT CARDS & DEBIT CARDS


StanChart projects 30-pc growth in credit card business
STANDARD Chartered Bank has budgeted a 30 per cent growth in its credit card business in the current fiscal. The bank, which has about 1.5 million customers nationally, is eyeing, among others, the metro markets with a view to achieving its ... More

TRADE & LABOUR UNIONS


IBA, unions agree on pension issue
MUMBAI: The Indian Banks' Association and bank unions on Friday came to an understanding on haring the pension burden under the wage pact, a union official said. He said this has cleared the way for signing the final wage agreement, ... More


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Top Stories
MSCI raises India's weightage marginally — 13 new stocks included


`Banks must recognise credit rating of SSIs by independent agencies'

Unisys plans expansion; second unit by year-end

Car sales up 13.6 pc in April; CVs down 15 pc

Marginal rise in biz confidence index

Chinese textile exports to US dive 21 pc in March

Coal shortage hits Rlys' freight movement plans

The fluster in FBT

In Focus

BHEL Disinvestment
China's revaluation
Dabhol power regenerated
Tracking the rains
Sethusamudram Canal Project
India Inc's overseas acquisition
More

In Depth

Gender Justice
Simple Economics
Tax Talk
More

Looking back
May. 1-May. 7
Forex reserves increase by $1 billion

Bearish trend in bonds to continue

LIC to focus on equities, may scale up exposure

SBI joins race to tap mid-corporates

HDFC net jumps 16.7 pc in Q4; to pay Rs 17/share

IGF seeks probe into alleged price rigging in 3 banks


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