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Saturday, July 16, 2005
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MONEY & BANKING

INVESTMENT BANKING


Allbank Fin gets SEBI nod for merchant banking
ALLBANK Finance, the subsidiary of Allahabad Bank that has been lying dormant, has been granted a merchant banking licence by the Securities and Exchange Board of India (SEBI). The company hopes to begin merchant banking activities shortly, ... More

FOREX


Rupee tad higher; bond prices rise
MUMBAI: The rupee marginally strengthened against the dollar on Friday. day. The rupee opened at 43.51/52 and ended at the same level, slightly higher than Thursday's close at 43.53. With dealers anticipating a rate hike in the ... More

FINANCIAL PERFORMANCE


HDFC first quarter net up 21%
HOUSING Development Finance Corporation has reported a 21-per cent increase in net profit for the first quarter ended June 30, 2005. Net profit for the quarter amounted to Rs 247.28 crore as against Rs 204.62 crore during the corresponding ... More

LIFE INSURANCE


BSNL takes group life cover from LIC for Rs 4,770 cr
BHARAT Sanchar Nigam Ltd (BSNL) has taken a corporate group life insurance policy from the Life Insurance Corporation (LIC) for it 3.5 lakh employees for a sum assured of Rs 4,770 crore. Under the scheme, 10,000 senior BSNL executives are ... More

GENERAL INSURANCE


More IT firms opting for `fidelity cover'
INSURANCE coverage is expected to increase two-fold as the perception of risk is on the rise on the back of recent episodes of the alleged sale of British customers' data and the siphoning off of funds of Citibank clients. Mr V. Ramakrishna, ... More

RBI & OTHER CENTRAL BANKS


Price stability, prime concern for RBI
"GLOBAL uncertainties have increased," says the RBI Governor, Dr Y.V. Reddy, and firm crude prices could be the first if not the only uncertainty, ahead of the first quarter review on July 26. International commodity prices have turned sober ... More

World Bank to fund municipal projects in AP
THE World Bank has agreed `in principle' to fund the Andhra Pradesh Urban Reforms and Municipal Services Project (APURMSP), the Chief Minister, Dr Y.S. Rajasekhara Reddy, announced here. Of the Rs 1,320-crore project cost, the Bank would fund ... More

PRIVATE BANKS


ICICI Bank opens 2 overseas branches
ICICI Bank inaugurated its second branch in United Kingdom in Leicester and its fourth branch in Canada. ICICI Bank had set up its first branch in November 2003. The branches will offer both retail and corporate banking activities, said a press ... More

Karnataka Bank denies takeover bid — 'Trading volumes under watch'
THE Chairman and CEO of Karnataka Bank, Mr Anantakrishna, has categorically refuted any corporate house accumulating the shares of the bank. Replying to queries of the shareholders at the 81st AGM in Mangalore on Friday, he said: "We have come ... More

PUBLIC SECTOR BANKS


BoB pays Rs 62-crore final dividend to Govt
BANK of Baroda on Friday paid a final dividend of Rs 62.72 crore to the Government for fiscal 2004-05. The dividend was paid at the rate of 32 per cent on the Government's share in the bank. The Chairman and Managing Director, Dr A.K. ... More

FINANCIAL INSTITUTIONS


IDBI launches main branch at Kochi
KOCHI: The commercial banking operations of the Industrial Development Bank of India's Kochi main branch were launched on Friday, with the inauguration of the branch as well as an ATM located in the branch premises by Mr B. Ravindranath, ... More

INTEREST RATES


Interest rates to `remain flat' in short-term
INTEREST rates will go up marginally in the medium-term, but remain unchanged in the short-term, according to the HDFC Chairman, Mr Deepak Parekh. "There is possibility of interest rate inching up in the medium term due to rise in oil prices, ... More

NON-PERFORMING ASSETS


`Pentamedia group companies owe Rs 270 cr to various banks'
PENTAMEDIA Graphics, the Chennai-based company that is engaged in multimedia and animation, owes over Rs 180 crore to a number of banks, including Oriental Bank of Commerce.Similarly, another company in the group, Pentasoft Technologies, owes ... More


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BSNL takes group life cover from LIC for Rs 4,770 cr

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In Focus

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In Depth

Gender Justice
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Looking back
Jul. 3-Jul. 9
Banks asked to adopt policy for risk exposure to real estate sector

Banks see rise in revenue from cross-selling retail products

Rupee against dollar — It's fundamentals versus sentiment

Forex reserves enough to meet 14 months' imports

Banks find NPA recovery more gainful than sale to ARCs

Banks getting finer rates on overseas loans


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