The Hindu Business Line : Friday, August 26, 2005

Banking system has entered the woods
`In the next three years, some of the banks will find it hard to land business which then could cut into profits. I do not want to sound scary but a few private and public sector banks will drop out by 2008 if the Government and the RBI do not act no w.' More

FOREX

Rupee closes firmer; bonds range-bound
MUMBAI: The rupee ended firmer against the dollar on Thursday but was volatile during the day. The domestic currency opened at 43.71/72 and touched an intra-day low of 43.78. It then appreciated to 43.6850 on account of dollar selling. ... More

INFORMATION TECHNOLOGY

`Small banks can hold their own in Basel II era'
STOP frightening us — that is the message from risk managers of banks to IT service providers who are keen to sell their products to the banking industry as it prepares for the Basel II norms. "It is really not a crime to be a bit slow ... More

AGRICULTURAL INSTITUTIONS

Rural infrastructure — Nabard disbursals to States at Rs 25,384 cr
The National Bank for Agriculture and Rural Development (Nabard) has already disbursed Rs 25,384 crore to States out of the Rs 42,949 crore sanctioned in the Budget for building rural infrastructures, says Ms Ranjana Kumar, Chairperson, Nabard. ... More

HOUSING FINANCE

HDFC raises $500-m via FCCBs
MUMBAI: Housing Development Finance Corporation Ltd (HDFC) has informed the Bombat Stock Exchange that it has raised $500 million through a Zero Coupon Foreign Currency Convertible Bond (FCCB). The bond was oversubscribed two times. The ... More

LIFE INSURANCE

DSP Merrill Lynch offers SIP with insurance cover
DSP Merrill Lynch Mutual Fund has launched a product that offers a systematic investment plan (SIP) as well as an insurance cover for the investor. The idea behind the product called "DSP Merrill Lynch Super S.I.P" is to facilitate investors to ... More

PRIVATE BANKS

City Union Bank to take up door-to-door campaign in Sivakasi
KUMBAKONAM-based City Union Bank Ltd has decided to go door-to-door to get clients. The campaign has been announced for the industrial town of Sivakasi, where representatives of the bank will visit homes and offices and introduce the bank's ... More

IDBI dividend

PUBLIC SECTOR BANKS

PSB capital infusion
The CCEA on Thursday cleared the infusion of Rs 500 crore in Punjab and Sind Bank (PSB). It has also permitted the bank to come out of narrow banking and lifted the embargo under the prompt corrective action. The Government has said that the ... More

Indian Bank to use $100 m for overseas biz expansion
INDIAN Bank intends to use the $100 m it raised on Monday to augment the loan assets of its overseas branches at Colombo and Singapore, the bank's Chairman and Managing Director, Dr K.C. Chakrabarty, told Business Line on Wednesday. The ... More

GOVT BONDS

Govt stock sale oversubscribed
The auction of Rs 6,000-crore 11.90 per cent Government Stock 2007 was oversubscribed on Thursday. The bond prices rose by about five paise as the cut-off price was as per market expectations. For the 11.90 per cent paper, the notified amount ... More

MERGERS & ACQUISITIONS

Western banks' high interest in Chinese banking sector
China has a fast growing economy but its banking sector under-developed, albeit with huge potential for expansion, modernisation and improvements in efficiency. Many high-profile western banking groups are buying stakes in China's banks, hoping for c onsiderable gains from this development. More

EVENTS

CII meet on Basel-II norms
THE Confederation of Indian Industry is organising a seminar on `Basel-II norms - Are we ready?' here on Saturday. The Basel-II accord represented the convergence of research and practice in supervision as it attempted to apply the latest ... More

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