The Hindu Business Line : Tuesday, February 14, 2006

Federal Bank wins banking tech awards
FOR its outstanding achievements in technology infusion and dissemination, Federal Bank has bagged two awards for the `Best use of IT in retail banking' and `Best payments initiative,' from the Indian Banks Association and Trade Fairs and ... More

FOREX

Rupee declines; gilts range-bound
MUMBAI: The rupee fell against the greenback on Monday on the back of dollar buying by State-run banks. The domestic currency opened at 44.24 and moved between 44.24 and 44.28 during the day. It closed at 44.26, down from Friday's ... More

LIFE INSURANCE

Life insurance premiums up 51 pc in 9 months — ICICI Pru leads private pack; LIC has 209 pc more lives covered
THE domestic life insurance industry has reported a healthy growth of over 51 per cent in premium underwritten for the nine-month period of the current fiscal ended December 2005. As per the statistics prepared by the Insurance Regulatory and ... More

LIC Ernakulam division retains top position in premium collection
THE Ernakulam division continues to maintain the top position among the 100 divisions of Life Insurance Corporation in the country in terms of first premium collections, by registering a growth of 63.81 per cent. The division has collected Rs ... More

GENERAL INSURANCE

HDFC Standard grows 150% in April-Dec 2005
HDFC Standard Life has registered a growth of 150 per cent for the period April-December 2005 compared to the same period last year. According to a press release, HDFC Standard Life's new business premium grew to Rs 598.7 crore during this ... More

PRIVATE BANKS

ICICI Bank hikes benchmark prime lending rate to 11.75 pc
ICICI Bank has hiked its benchmark prime lending rate (PLR) by 0.5 percentage points to 11.75 per cent with immediate effect. The bank may be the first to hike the PLR after the RBI's quarterly review of the monetary policy last month, ... More

PUBLIC SECTOR BANKS

Corp Bank launches e-payment for excise duty remittances
CORPORATION Bank has launched e-payment facility for remittance of Central Excise duty by the assessees. A bank release said here on Monday that the customers of authorised core branches could avail themselves of this facility. They can log on ... More

CREDIT CARDS & DEBIT CARDS

Mega mart card
Mr Roopam Asthana, CEO, State Bank of India, and Mr Ram Chandra Agarwal, MD, Vishal Retail Pvt. Ltd., launching the co-branded `SBI Vishal Mega Mart Card' in the Capital on Sunday. ... More

MERGERS & ACQUISITIONS

IOB to pay Rs 170 cr to buy out Bharat Overseas Bank
THE board of directors of Indian Overseas Bank (IOB) will meet on Tuesday to finalise the proposal to buy out the stakes of the six other banks in Bharat Overseas Bank Ltd, in which IOB currently holds the highest stake of 30 per ... More

PUBLIC OFFER

Union Bank fixes issue price band at Rs 100-110
UNION Bank of India (UBI) has fixed the price band for its forthcoming follow-on public issue of 45-million equity shares of Rs 10 each at Rs 100-110, the UBI General Manager, Mr V.S.R. Murthy, announced here on Monday. Addressing newspersons, ... More

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Finance Minister likely to announce measures to improve tax clinics

`Strengthening quarantine dept, pest risk analysis can check fruits imports'

Radico gets export duty waiver for grain distillery in UP

Passenger car sales up 8.3 pc in Jan

Industry in a fix over price ceiling for raw jute

Life insurance premiums up 51 pc in 9 months — ICICI Pru leads private pack; LIC has 209 pc more lives covered

Soyabean oil imports turn cheaper than crude palm oil

GSK Pharma to bring in more products, intensify research

In Focus

Infrastructure woes stare IT sector

IPO Scams