MONEY & BANKING
OVERSEAS BORROWINGS
Reliance Info raises $300-m syndicated loan
RELIANCE Infocomm Ltd (RIC) has concluded a syndicated term loan facility of $300 million, lead arranged by ABN Amro NV, Australia and New Zealand Banking Group, Bank of Baroda, BNP Paribas, DBS Bank, ICICI Bank, Mashreqbank and Rabobank. A ...
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FOREX
DGFT study to include services sector for duty credit entitlement
THE Government plans to undertake studies on various services sectors of the economy as part of its efforts to identify and make known those foreign exchange remittances that would not be counted for duty credit entitlement under the `Served from ...
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FINANCIAL PERFORMANCE
Magma Leasing H1 up 65%
MAGMA Leasing Ltd recorded a growth of over 65 per cent (volume terms) in its disbursements for the first half of the current financial year (ended September 30, 2004) at Rs 577.75 crore, against Rs 360 crore achieved in the corresponding period ...
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GENERAL INSURANCE
Medical insurance cover for Indian Bank clients in Kerala
INDIAN Bank in association with United India Insurance Company Ltd launched a medical insurance product, Arogya Raksha Scheme in Kerala on Tuesday. The product is aimed at insuring the bank's account holders and their families from ...
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CREDIT RATING
Crisil reaffirms ratings on four State Govt entities
CRISIL, the credit rating agency, has reaffirmed the ratings assigned to the bond programmes of entities owned by the State Governments of Andhra Pradesh, Goa, Karnataka and Tamil Nadu. The agency has reaffirmed the `A' (so) rating to the bond ...
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PUBLIC SECTOR BANKS
Andhra Bank to vend Tata MF products
TO increase the level of non-fund base income stream to counter the falling interest rate regime, Andhra Bank has entered into an alliance for third party distribution of products with Tata Asset Management, which manages the Tata Mutual ...
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BoI scheme for tenant farmers at Coimbatore
BANK of India has introduced the `Bhumiheen Kisan Card' scheme for tenant farmers. According to bank sources, this is the first time that the bank had come forward to offer such cards for tenant farmers, share croppers and oral lessees. A ...
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FOREIGN BANKS
StanChart opens new branch in Chennai
CHENNAI: Standard Chartered Bank on Wednesday inaugurated a branch in Chennai, its fifth in the city, 67th in India and 365th anywhere in the world. India is the bank's largest international network, according to a press release. The ...
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HSBC `Helping Hands Mela'
HSBC is organising `Helping Hands Mela 2004' in Kochi to bring non-governmental organisations into its premises to sell their products. The event, which is scheduled to end on October 16, is part of a national programme spread across all HSBC ...
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NON-PERFORMING ASSETS
The millstone of bad loans weigheth
Sankar Ray on the need for corporate disclosures to be transparent in the matter of loan waivers
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MERGERS & ACQUISITIONS
V.P. Singh backs IFCI merger with IDBI
IFCI invited its officers and employees' association to make a presentation on the merger before the company's board on Monday.
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REGULATORY BODIES & RULINGS
IRDA suspends broking licence of Pegasus Insurance
THE Insurance Regulatory and Development Authority (IRDA) has suspended the broking licence of the Mumbai-based Pegasus Insurance Brokers Pvt Ltd (PIBPL) for its failure to adhere to the norms pertaining to disclosure and conduct of business ...
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TRADE & LABOUR UNIONS
OBC unions protest high wages to ex-GTB staff
OPPOSING the high salaries being paid to the employees of erstwhile Global Trust Bank (GTB) that is in the process merging with Oriental Bank of Commerce (OBC), the employees of the latter staged a dharna at the regional office of the bank ...
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Cross Currency Rates
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