The Hindu Business Line : Wednesday, August 17, 2005

PNB plans outfit for BPO operations
THE public sector Punjab National Bank proposed to have a subsidiary for call centre operations and business process outsourcing. Speaking to reporters here today, the PNB's Executive Director, Mr C.P. Swarnkar, said: "We are working on the ... More

FOREX

Rupee in range; securities weak
MUMBAI: The rupee gained marginally against the dollar on Tuesday on account of foreign institutional investor inflows. The domestic currency opened at 43.5250/54. It was, however, range-bound during the day between 43.52-43.55. It ended ... More

SOFTWARE

i-flex wins another Vietnam bank order
FLEXCUBE, the core banking solution from i-flex solutions Ltd, has found a customer in Vietnam's Indovina Bank Ltd. Indovina Bank, a joint venture between Industrial and Commercial Bank of Vietnam and Cathay United Bank, Taiwan, will implement ... More

LIFE INSURANCE

LIC turns attention to real estate
REAL estate is turning out to be the second love for the Life Insurance Corporation of India. The corporation has decided to direct a major part of its energies at maximising returns from the innumerable properties that it owns, many of which are ... More

LIC to launch 2 new products next month
LIFE Insurance Corporation plans to introduce two new products in September on the occasion of its golden jubilee, said Mr K. Sridhar, Managing Director. He was speaking here on Tuesday after inaugurating the new building of the LIC ... More

PUBLIC SECTOR BANKS

Banking reform Bill introduced in LS — Govt drops move to reduce stake in banks to below 51%
THE nearly five-year-old move to enact an enabling provision to reduce the Government's holding in nationalised banks to below 51 per cent has finally been given an official burial. Moving a Bill in the Lok Sabha on Tuesday seeking higher ... More

IOB launches health cover for clients
INDIAN Overseas Bank on Tuesday launched, in association with National Insurance Company, a scheme that provides health cover to account holders and borrowers. The insurance cover is available to the entire family of the account holder — ... More

`Cost control key to PSU banks' survival'
THE Executive Director of Corporation Bank, Mr K.L. Gopalakrishna, has said that the majority holding by the Government was the factor that was protecting public sector banks in the country today. Inaugurating the `Centre for Studies on ... More

GOVT BONDS

Rs 8,000-crore bonds auction
MUMBAI: The Reserve Bank of India proposes to raise Rs 5,000 crore through the sale (reissue) of the 7.37 per cent government stock 2014 and Rs 3,000 crore through the sale (reissue) of the 7.50 per cent government stock 2034. The ... More

SECURITISATION

States can leverage sovereign guarantee
ALL the World Bank's loans to Indian entities other than the Government of India carry a sovereign guarantee. It is, in fact, the very basis of the Bank's lending - no credit exposure to the borrowing entity, unless it is the Federal ... More

ALLIANCES & JOINT VENTURES

Dena Bank signs pact with SIDBI
DENA Bank and Small Industries Development Bank of India (SIDBI) entered into a Memorandum of Understanding, today, for joint and co-financing of projects in the Small and Medium Sector, service sector and development of infrastructure ... More

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