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Friday, December 23, 2005
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MONEY & BANKING

FINANCIAL SERVICES


Srei Cap to offer advisory services to aviation sector — Ties up with Australian co
SREI Capital Markets Ltd (SCML), a wholly-owned subsidiary of Srei Infrastructure Finance Ltd, has signed an agreement with the Australia-headquartered Centre for Asia Pacific Aviation Pty Ltd (CAPA) for extending advisory services to the Indian ... More

FOREX


Rupee volatile; gilts lacklustre
MUMBAI: The rupee was volatile but recovered most of its losses against the greenback on Thursday on the back of dollar inflows. It opened at 45.32 and touched an intra-day low of 45.38/39. It, however, recovered to close at 45.20, up from ... More

SOFTWARE


Mastek `Elixir' for insurers
MASTEK has launched `Elixir', a solution for policy administration by insurance companies in India. This is a component-based solution designed specifically for insurance companies that want to launch hybrid products and improve the efficiency of ... More

HOUSING FINANCE


Real estate exposure risk for HFCs raised to 125 pc — Cos with large exposures have to rework strategy
HOUSING finance companies having large exposures may have to re-work their strategies in regard to their capital adequacy, which is 12 per cent. This follows a recent National Housing Bank notification on risk-weightage for these companies. The ... More

GENERAL INSURANCE


Third party motor claims: CJ shares concern with insurers
IN an unprecedented move, the Chief Justice of Maharashtra on Thursday convened a meeting of Chairmen and Managing Directors of all four PSU general insurance companies to discuss speedy settlement of cases relating to third party motor claims. ... More

Insurance wage hike gets Finance Ministry's nod
THE Finance Ministry has okayed wage revision for over 60,000 employees of the four public-sector insurance companies, the General Insurance Officers All India Association has said. The wage revision, which had been cleared by the trade unions ... More

PRIVATE BANKS


Federal Bank to vend HSBC MF products
HSBC Investments, the trading name of HSBC Asset Management (India) Pvt Ltd, has entered into an agreement with the Aluva-based Federal Bank to have HSBC's mutual fund products distributed through the latter's branches across the country. Mr ... More

ICICI Bank opens branch at Dubai financial centre
ICICI Bank on Wednesday opened a branch at the Dubai International Financial Centre (DIFC) to take advantage of Dubai's growing reputation as a major financial hub, the bank's Managing Director and CEO, Mr K. V. Kamath, said. Mr Kamath, who is ... More

PUBLIC SECTOR BANKS


Canara Bank is Basel-II ready
MR M.B.N. RAO, Chairman and Managing Director of Canara Bank, has said the bank was getting ready for the Basel-II regime. Talking to reporters here on Thursday, he said the bank's CAR (capital adequacy ratio) was very comfortable at nine per ... More

FOREIGN BANKS


StanChart acquires Rs 1,300-cr NPAs from ICICI Bank
STANDARD Chartered Bank announced on Thursday that it has acquired bad loans to the tune of Rs 1,300 crore from ICICI Bank. The acquisition of this non-performing loan portfolio, carried out by Standard Chartered Bank's Alternate Investment ... More

GOVT BONDS


Indian holdings in US treasuries down at $14 b
The reduction was triggered by concerns of further depreciation in US securities in view of the continuous hikes in US repo rates. More

MERGERS & ACQUISITIONS


IDFC plans to buy 19.4 pc stake in Feedback Ventures
THE Infrastructure Development Finance Company Ltd (IDFC) has decided to buy 19.4 per cent equity in the Delhi-based Feedback Ventures Pvt Ltd, an infrastructure advisory, engineering services and project development company. IDFC will also ... More

SOCIETY & DEVELOPMENT


Profit-making banks' donations capped at 1 pc of previous net
THE Reserve Bank of India has set a cap on the donations that may be made by profit-making banks in any fiscal at one per cent of the published profit of the bank for the previous year. Loss-making banks can make donations totalling Rs 5 lakh ... More

PEOPLE


SBH's new General Manager
HYDERABAD: Mr Arun Bisaria has assumed charge as General Manager (Technology), State Bank of Hyderabad from December 21, He was Deputy General Manger (Credit Audit) in the State Bank of Bikaner and Jaipur, before taking up this assignment. ... More



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Dec. 11-Dec. 17
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