The Hindu Business Line : Tuesday, August 12, 2003

Rupee breaches 46 despite RBI buying
MUMBAI: The rupee once again breached the 46 mark on Monday with heavy FII inflow, to end the day at 45.95/96 against the dollar, up from Friday's close of 46.02/03. It had closed at 45.95/96 levels on Thursday. Foreign banks were seen ... More

SOFTWARE

HDFC Standard Life selects Staffware tool
HDFC Standard Life Insurance will implement a workflow solution by Staffware to automate and support business processes across the organisation. HDFC Standard Life will use the Staff are Process Suite to automate its new business, customer and ... More

LIFE INSURANCE

Postal dept keen to sell more rural insurance policies
The growth in the number of RPLI policies and the corpus of the sum assured has provided the postal administration with the impetus to use its nationwide infrastructure and vast network to augment policyholder base. It has also begun to feel the need to aggressively market the PLI schemes in urban areas. More

PUBLIC SECTOR BANKS

UCO Bank scheme for SSI units

FOREIGN BANKS

Yes Bank close to equity deal with funds
The shareholding pattern of the new bank will be as follows: 51 per cent to be jointly held by Mr Kapoor and Mr Kapur, 25 per cent by private equity funds, 20 per cent by Rabobank International and 3-4 per cent by the new bank's top management team. More

FINANCIAL INSTITUTIONS

IDBI to retain present focus even as bank — Cabinet clears changes to Bill
INDUSTRIAL Development Bank of India (IDBI) would not lose the development financial institution character even after its proposed conversion into a bank. The Union Cabinet today cleared several amendments to the IDBI Bill that would, among ... More

APSFC clearance for 330 projects worth Rs 270 cr
IN a span of 20 days, the Andhra Pradesh State Finance Corporation (APSFC) has given on-the-spot approval to 330 projects, involving financial assistance to the tune of Rs 270.33 crore during six editions of entrepreneur awareness campaigns held ... More

MPs oppose IDBI conversion
EVEN as the Cabinet cleared IDBI's conversion into a bank with strong `development' focus, a group of over 50 Members of Parliament have written to the Prime Minister, Mr Atal Bihari Vajpayee, to reconsider the Government's decision to convert ... More

TRADE & LABOUR UNIONS

AIBOC rejects 6.44% pay hike offer
THE All India Bank Officers' Confederation (AIBOC) has rejected the Indian Banks Association's offer of a 6.44 per cent pay hike. Giving this information here on Monday, Mr R.C. Agarwal, Joint General Secretary of AIBOC, and also the General ... More

IPOS

IOB expects SEBI nod for second issue in a week
INDIAN Overseas Bank (IOB) has filed the offer document for its second public issue with the Securities and Exchange Board of India (SEBI) and hopes to get the requisite approval within the next seven to eight days. Speaking to Business ... More

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