The Hindu Business Line : Tuesday, July 05, 2005

SBI earmarks Rs 85 cr for farm sector loans in Mangalore region
THE Mangalore Regional Business office of State Bank of India is planning to disburse Rs 85 crore to agriculture sector during the current financial year. Dakshina Kannada, Udupi, Chikmagalur, Shimoga, Hassan and Kodagu districts come under ... More

FINANCIAL SERVICES

Allianz Securities scouting for global tie-ups
THE Delhi-based Allianz Securities Ltd, one of the largest arrangers of debt for PSUs and State-level FIs, is looking at forging tie-ups with foreign investment firms. It is in talks with some Japanese and Singapore firms and hopes to seal a deal ... More

REGIONAL RURAL BANKS

Syndicate Bank to merge RRBs in Karnataka
SYNDICATE Bank is to consolidate four of its regional rural banks (RRBs) in Karnataka into one RRB. This is in line with the policy formulated for consolidation of RRBs, which requires a sponsoring bank having more than one RRB in a State to ... More

FOREX

Rupee down 6 paise, securities decline
MUMBAI: The rupee weakened against the dollar on Monday. The greenback was buoyant against other major currencies on strong US economic data. However, the decline was cushioned by strong dollar inflows. The rupee opened at 43.55/56 ... More

HOUSING FINANCE

NHB refinance disbursements up 131 pc in 2004-05
THE annual refinance disbursements of National Housing Bank (NHB) touched an all-time high of Rs 7,500 crore during 2004-05, which represents a 130.55 per cent increase over the level of Rs 3,253 crore in 2003-04. Rural housing accounted for 47 ... More

PUBLIC SECTOR BANKS

Andhra Bank to focus on low-cost deposits
THE new Chairman and Managing Director of Andhra Bank, Mr K. Ramakrishnan, has chalked out a robust growth strategy for the bank aimed at securing a place among the league of mid-sized banks in a couple of years. The strategy involves ... More

NON-PERFORMING ASSETS

Change laws to recover debts: AP bank union
THE Andhra Pradesh Bank Employees' Federation (APBEF) has urged the Government of India to amend the relevant laws to recover the huge bad debts of wilful defaulters and also treat wilful default as a criminal offence. Addressing newspersons ... More

Make wilful default a criminal offence: AIBEA
THE All-India Bank Employees' Association (AIBEA) today released the list of bank defaulters and demanded that wilful default be declared as a criminal offence. According to Mr Rama Nand, joint secretary of the AIBEA, in Delhi alone the ... More

TRADE & LABOUR UNIONS

Profitability not linked to bank size: AIBOC report
AN expert panel that studied the banking and financial policy has said that there is not enough evidence to support an automatic association between bank size and profitability. Gains from consolidation could be expected along greater economies ... More

IPOS

IL&FS Investsmart IPO subscribed 7.94 times
THE initial public offering of financial services company IL&FS Investsmart was subscribed 7.94 times on the first day of opening with most of the bids coming at the upper price band of Rs 125. The price band for the issue is Rs ... More

CO-OPERATIVES

RBI relaxes NPA norms for urban co-op banks
URBAN co-operative banks (UCBs) will be allowed to apply the 180-day delinquency norm till March 31, 2006 for identification of NPAs in gold loans and small loans up to Rs 1 lakh, the Reserve Bank of India said in a release. This move by the ... More

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