The Hindu Business Line : Wednesday, December 21, 2005

National Payment Corpn registered
NATIONAL Payment Corporation of India will be the name of the retail clearing operation company to be floated by some 20 banks in February 2006. The company has been approved and registered as a Section 25 company, said banking officials. As ... More

AWARDS & HONOURS

Debt syndication to touch Rs 50,000 cr — UTI Bank awarded `India Bond House'
UTI BANK has been awarded the International Financing Review (IFR) Asia `India Bond House' for the year 2005. The bank has been a consistent market leader for the last three years in debt syndication. This year, so far, the bank has done Rs ... More

FOREX

Rupee volatile; bond prices fall
MUMBAI: After rising by over 30 paise on Monday, the rupee weakened against the US dollar in volatile trade on Tuesday and ended about 20 paise lower. The rupee opened at 45.07/08 and moved up to 44.93/94. At these levels, exporters who ... More

SOFTWARE

KVB opts for Odyssey tool
KARUR Vysya Bank has opted for Snorkel-TX, a transaction security product of Odyssey Technologies. The product provides authentication, digital signatures and privacy of transactions to Internet banking customers. The product provides ... More

LIFE INSURANCE

LIC International opens UAE branch in Dubai
LIC (Int'l) BSC, the international subsidiary of LIC of India, has opened a UAE branch office in Dubai to cater to the growing NRI demand for insurance products in the region. Announcing this, Mr A.K. Shukla, Chairman of LIC, said that the ... More

GENERAL INSURANCE

GIC forays into film completion bond biz
With completion guarantees in place, the possibility of a film project getting organised finance is higher, according to Mr Balsara of Ernst & Young. More

Non-life insurers hard-selling liability covers to corporates
Aon Global Insurance Services and Howden Insurance Brokers have operations here. More

STOCK MARKETS

Index investing lags in India
What it says is simple. No individual - lay investor or fund manager - can outperform a market index for any continuous length of time. This is because all available information - about the global and domestic economies, an industry and ... More

PRIVATE BANKS

SIB core banking facility at Thiruvankulam
KOCHI: The 300th core banking-enabled branch of South Indian Bank has been inaugurated at Thriuvankulam near Kochi today. After implementing CBS facility at all its branches in metro and urban areas, South Indian Bank has started ... More

Karnataka Bank implements core banking in Tarikere
KARNATAKA Bank Ltd implemented core banking solution - Finacle - at Tarikere branch on Tuesday. A bank release said here that Tarikere is the 300th branch to get the core banking facility. Speaking on the occasion, Mr P. Jayarama Bhat, ... More

ICICI Bank opens 5th branch in UK
ICICI Bank UK Ltd, a subsidiary of ICICI Bank, opened its fifth branch in the UK in the London suburb of Wembley. Other branches in the UK are in Leicester, Southall, Manchester and Knightsbridge. Apart from offering the basic retail and ... More

PUBLIC SECTOR BANKS

Syndicate Bank keen to raise low-cost deposits
SYNDICATE Bank is looking to increase its low-cost deposits by 18 per cent next fiscal and overall deposits by 15 per cent, to meet increased demand for credit. It hopes to maintain overall credit growth at around 30 per cent. As on September ... More

Allahabad Bank introduces 12-hour banking
ALLAHABAD Bank has introduced 12-hour banking — from 8 a.m. to 8 p.m — in Madurai and in 33 branches across the country effective December 16. This includes branches in Ahmedabad, Bangalore, Bhopal, Bhubaneswar, Chandigarh, ... More

FOREIGN INSTITUTIONAL INVESTORS

Govt rules out immediate hike in FII limit in PSU banks
THE long wait for a hike in foreign institutional investor (FII) investment limit in public sector banks is set to continue for some more time. The Government has said that it is not considering any proposal for a hike in the cap at present ... More

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