INSIGHT
`Cost efficiency to drive bankprofits this year'
COST efficiencies will be the driver of profitability for most banks in the year ahead, according to the Indian Banks' Association Chairman, Mr V. Leeladhar, who is also the CMD of Union Bank of India. As treasury income, the main driver of ... More

FOREX
Dollar breaches 1.25 to Euro
For how long will this turbulence continue on the currency market is anybody's guess, but a recession-prone European Union is obviously dreading any further rise of Euro against the dollar. More

Rupee range-bound; G-secs trend lower
MUMBAI: The rupee traded in a narrow range of four paise against the dollar in the forex market on Wednesday on thin volumes. The domestic currency closed at 45.5900/5950 three paise weaker than Tuesday's close of 45.5600 in its value ... More

NBFCS
Lloyds Finance `fails to repay investors' despite CLB order
LLOYDS Finance Ltd, a non-banking finance company, has failed to implement the directives of the Company Law Board (CLB) on repaying investors here, their dues. A cross-section of investors told Business Line that the company had turned ... More

LIFE INSURANCE
Pravasi insurance counters an instant hit
THE Pravasi Insurance Cell opened here by the National Insurance Company has met with overwhelming response from customers within Kerala and abroad prompting the company to think of replicating the service at divisional offices in all the ... More

PUBLIC SECTOR BANKS
Central Bank lowers PLR to 11 pc
CENTRAL Bank of India on Wednesday pegged the benchmark prime lending rate (BPLR) at 11 per cent and slashed the interest rate for agriculture and SSI loans, while offering higher returns on savings of senior citizens. In a statement, the ... More

SBT fixes benchmark PLR at 11 per cent
STATE Bank of Travancore (SBT) has fixed its benchmark prime lending rate at 11 per cent, representing a reduction by 50 basis points from its current PLR/PTLR. The prime lending ratewill be effective January 1, 2004, a spokesman of the bank ... More

Banking set to turn tech-intensive, fee-dependent
THE year 2004 is expected to witness the fight-back of public sector banks. With technology a fervent mantra with most of them, state-run banks are increasingly matching the once-exclusive service offerings of private/foreign banks. Meanwhile, ... More

Allahabad Bank too cuts PLR
ALLAHABAD Bank has lowered its prime lending rate (PLR) by 50 basis points. With effect from January 1, the bank's benchmark PLR has been fixed at 11 per cent, according to Mr O.N. Singh, its CMD. Addressing a news conference here, Mr Singh ... More

CREDIT MARKET
Banks in Dakshina Kannada register Rs 8,100-cr business
BANKING business in Dakshina Kannada district, which has 332 branches, crossed Rs 8,100 crore as on September. These branches collected deposits worth Rs 5,574 crore and advanced Rs 2,534 crore in the first half of the current financial year. ... More