The Hindu Business Line : Thursday, October 21, 2004

FINANCIAL SERVICES
CDC plans asset reconstruction co with ING Vysya, Corporation Bank
The UK-based CDC Group Plc is planning to set up an asset reconstruction company (ARC) in partnership with Corporation Bank and ING Vysya Bank. The Foreign Investment Promotion Board (FIPB) will study the proposal next week. According to the ... More

FOREX
Rupee tad firmer; gilts move up
MUMBAI: The rupee rose to end a shade stronger against the dollar at 45.76/77 on Wednesday after touching 45.75 on the back of substantial selling of dollars by banks, dealers said. The currency had closed at 45.80/81 per dollar in the ... More

INFORMATION TECHNOLOGY
SBI adopts core banking system
STATE Bank of India is targeting a 15 per cent reduction in transaction costs by March 2006 , with the help of Tata Consultancy Services. Over 250 branches of the country's biggest lender went live on Wednesday, on the centralised core-banking ... More

ICICI Bank to deploy new software
MUMBAI: ICICI Bank has signed a deal with SunTec Business Solutions Private Ltd to deploy the Transaction Business Management System - Finance (TBMS-F) software. This software is designed for the corporate banking division of the ... More

FINANCIAL PERFORMANCE
SBT net marginally up in first half
STATE Bank of Travancore (SBT) has recorded a net profit of Rs 118.10 crore in the first six months of the current financial year ended September 30, as against Rs 115.45 crore posted during the same period last year. The gross profit during ... More

HUMAN RESOURCES
Andhra Bank to start B-school for officials
ANDHRA Bank has initiated steps towards setting up of a modern business management institute aimed at training the top and middle management personnel in the bank initially and extend training facilities to the entire banking industry at a later ... More

Oriental Bank yet to get a hang of GTB salary maze
THE employees of the Oriental Bank of Commerce (OBC), who are agitating over the high salaries paid to the erstwhile Global Trust Bank (GTB) staff, have a bunch of companions from an unexpected quarter. The OBC top management too is spending ... More

RBI & OTHER CENTRAL BANKS
RBI to reveal penalties against banks
IN a move that will help protect investors' and depositors' interest, the Reserve Bank of India has decided to disclose the details of penalty and other actions taken by it against banks. The new directive, which comes into effect from ... More

PRIVATE BANKS
Catholic Syrian Bank opens zonal office in Delhi
AS a prelude to opening more branches in North India and to strengthen the existing monitoring mechanism of the north Indian branches, the Catholic Syrian Bank has opened its zonal office in New Delhi. The bank's Chairman and Chief Executive ... More

ICICI Bank plans more branches in AP

NON-PERFORMING ASSETS
DRT Hyderabad, restores seized rice mill to owner
IN what could be considered a major relief to the potentially viable sick units in the small-scale industry (SSI) sector, the Debts Recovery Tribunal (DRT) at Hyderabad has directed the State Bank of Hyderabad (SBH) to release the assets of a ... More

SHORT TERM INSTRUMENTS
Higher cut-off at 91-day sale
HIGHER cut-off at 5.20 per cent was set at the 91-day Treasury bill auction worth Rs 2,000 crore, conducted by the Reserve Bank of India. The cut-off yield has risen four basis points since the previous auction. The cut-off price was set at Rs ... More

FIXED DEPOSITS
Corporation Bank lowers FCNR deposit rates
CORPORATION Bank has reduced interest rates offered on FCNR (B) deposits with effect from October 20. A bank release said here on Wednesday that interest rate on the US dollar is 2.16 per cent per annum (previously 2.29 per cent) for a period ... More

M-COMMERCE
`Dena m-banking'
MUMBAI: Dena Bank has announced the launch of Dena m-banking (mobile banking) services to the customers of its 50 designated branches across 16 urban centres. This service was launched by Dr Anil Khandelwal, Chairman and Managing Director, ... More

IPOS
Dena Bank gets nod for 2nd public offer
THE Union Government has given its approval to Dena Bank for its second public issue. The issue is for an aggregate value of Rs 80 crore, comprising eight crore equity shares of Rs 10 each, the bank has informed the BSE. The meeting of the ... More