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Friday, December 16, 2005
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MONEY & BANKING

FINANCIAL SERVICES


IL&FS Investsmart raises $90 m through GDR
FINANCIAL services firm IL&FS Investsmart has raised $90 million through its maiden global depository receipts (GDR) on the Luxembourg Stock Exchange. The issue was priced $4.28 per GDR (Rs 197), at a discount compared to the ruling domestic ... More

REGIONAL RURAL BANKS


RBI board meets chiefs of RRBs
THE Reserve Bank of India brass on Thursday met the chiefs of regional rural banks to assess their condition, according to Mr V. Leeladhar, Deputy Governor. The central bank's initiative is said to have assumed significance in the light of ... More

FOREX


Rupee rises further; bond prices edge up
MUMBAI: The rupee substantially rose against the dollar on Thursday, gaining 30 paise on the back of foreign institutional investor inflows and in tandem with a global rally in major currencies. In the last two days, the rupee has gained ... More

SOFTWARE


Laser Soft in talks with SIs
Laser Soft Infosystems Ltd, a Chennai-based software company, is in talks with various system integrators (SIs), including Wipro and HP, to integrate its low cost core banking solution, Panacea, with their products, according to Mr B. Suresh ... More

CONSUMER FINANCE


SBI car loan carnival
HYDERABAD: State Bank of India (SBI) is organising a two-day car loan carnival in association with Maruti Udyog Ltd here from December 17. The festival is being organised on the eve of `Wheels of India' joint campaign by SBI and Maruti ... More

LIFE INSURANCE


SBI insurance ads up to life
DOES the word insurance strike terror in your heart, remind you of the definite "something" that's going to happen? Perhaps it is wrong to begin this way, because that's exactly what SBI Life doesn't want to do. It wants to associate insurance ... More

ING Vysya Life to support hockey
ING Vysya Life, the insurance arm of the private sector ING Vysya Bank, has chosen to patronise hockey, instead of cricket, expecting it to take it closer to the Indian customers. The company signed an agreement to sponsor the Bangalore team in ... More

GENERAL INSURANCE


Crop insurance mooted for coconut farmers
THE international seminar on coconut on the theme "Global Coconut Industry - Outlook for the Future," organised by the Coconut Development Board recently in Goa, has recommended introduction of crop insurance to protect coconut farmers against ... More

CREDIT RATING


Fitch upgrades ratings for SBI, ICICI Bank
INTERNATIONAL rating agency Fitch Ratings upgraded individual ratings for ICICI Bank and State Bank of India to `C' from `C/D'. The rating agency also affirmed other ratings of both banks at long-term foreign currency `BB+', short-term foreign ... More

RBI & OTHER CENTRAL BANKS


Expert group moots checks to prevent abuse of FII route
The group said that a negative list of tax havens, whereby entities registered in these jurisdictions are prevented from attaining FII status, should be prepared. More

PRIVATE BANKS


SEBI uncovers scam in YES Bank IPO allotment — Bans 13 investors from trading
THE capital market regulator, SEBI, has unearthed a large-scale multiple application case in the recent YES Bank IPO and banned 13 investors from trading in the bank's shares with immediate effect. These investors have manipulated allotment of ... More

Modus operandi in YES Bank deal
THE modus operandi adopted in manipulating the YES Bank Ltd (YBL)'s initial public offering (IPO) allotment involved opening of over 7,500 benami dematerialised accounts. These accounts were with the National Securities Depository Ltd (NSDL) ... More

ICICI Bank to focus on retail-led growth
ICICI Bank, which had recently completed its $1.8-billion mega follow-on offering, is not eyeing any acquisitions for now. The country's largest private sector bank would continue to focus on the retail segment to drive its organic growth. ... More

HDFC Bank launches credit card for farmers
HDFC Bank jointly with Visa launched Kisan Card, a credit card for farmers. In the first phase, the card will be available in Punjab and Haryana and will be launched across the country by March 2006, said a press release from the bank. The ... More

PUBLIC SECTOR BANKS


Corporation Bank gearing for growth via acquisitions — CRAR at a high 17 per cent
CORPORATION Bank is preparing for making acquisitions to grow in the western and northern regions of the country. Speaking to reporters here on Thursday, the Chairman and Managing Director of the bank, Mr V.K. Chopra, said, "We have no firm ... More

PNB hands over dividend to govt
Mr S.C. Gupta, CMD, Punjab National Bank, presenting the dividend cheque for Rs 54,67,000 to the Finance Minister, Mr P. Chidambaram, in the Capital on ... More

  • PNB customers' meet

    FINANCIAL INSTITUTIONS


    Small scale, big profits
    The Exim Bank is making a special push to ensure that rural India, particularly village women, too gets a small slice of the export market. More

    INTEREST RATES


    No pressure on interest rates for now: Kamath
    THE interest rate conditions seem stable, given the monetary policy and market signals, said Mr K.V. Kamath, Managing Director and Chief Executive Officer, ICICI Bank. As the monetary policy had underscored the liquidity position, which is ... More

    SHORT TERM INSTRUMENTS


    T-bills auction fully subscribed
    THE auctions of the 91-day and the 182-day treasury bills on Wednesday were fully subscribed. The notified amount for the 91-day treasury bill was Rs 500 crore. The Reserve Bank of India received 40 competitive bids, amounting to Rs 1,820.11 ... More

    TRADE & LABOUR UNIONS


    KBOO meet at Mangalore on Dec 18
    MANGALORE: The Karnataka Bank Officers' Organisation (KBOO) will hold its 14th conference in Mangalore on December 18. A KBOO release said on Thursday that Mr R.J. Sridharan, General Secretary of the All-India Bank Officers' Association ... More



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    In Focus

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    In Depth

    Gender Justice
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    Looking back
    Dec. 4-Dec. 10
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    Forex reserves rise $921 m

    IRDA plans third-party risk pool for motor insurance


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