The Hindu Business Line : Tuesday, September 13, 2005

Exchange control: Implementing bankable solutions
AFTER more than four decades of a rigorous regime, exchange control was considerably liberalised by the Reserve Bank of India (RBI) as part of the New Economic Policy ushered in 1991. The adoption of current account ... More

COURTS/LEGAL ISSUES

Bank in dock for `deficient' service
A CONSUMER court in Chennai has directed a private sector bank to pay a compensation of Rs10,000 to a buyer of a two-wheeler financed by it. Holding that the service rendered by the ICICI Bank, Kotturpuram Branch, was "deficient" in not ... More

FOREX

Rupee tad higher; bonds steady
MUMBAI: The rupee slightly gained against the dollar on Monday but was largely range-bound as demand matched supply of dollars. The rupee opened at 43.81 and touched an intra day low of 43.84. It closed at 43.8350, slightly higher than ... More

GENERAL INSURANCE

Mumbai floods cost Iffco-Tokio General Rs 240 cr in claims
IFFCO-TOKIO General Insurance Company will have to shell out about Rs 240 crore to settle claims arising from the recent Mumbai floods. These claims mainly relate to insurance cover for motor, industry, marine, shops, and offices. "We have ... More

Peerless to tap rural markets for insurance
THE Peerless General Finance and Investment Co has proposed to begin distribution of insurance in a big way. The companywill tap semi-urban markets, courtesy its infrastructure and agent network. Peerless, a residuary non-banking company, has ... More

OICL bags 32 pc share in Karnataka
BANGALORE: Oriental Insurance Company Ltd (OICL) has emerged as a leader in Karnataka taking 32 per cent market share. The company has reported gross direct premiums of Rs 259.86 crore in the State as on March 31 this year. This was ... More

PRIVATE BANKS

Plan to identify `weak' private banks dropped
A `weak' tag may send wrong signals to depositors and lead to a run on the banks. More

PUBLIC SECTOR BANKS

Merger of associates not on SBI radar — Group banks to have common tech platform, processes
STATE Bank of India (SBI) is currently not looking at the legal merger of associate banks with itself, said Mr A. K. Purwar, Chairman, State Bank Group. Speaking to newspersons after inaugurating the core banking solution network of State Bank ... More

PSU banks have little appetite for govt papers
PUBLIC sector banks are staying away from government securities in a bid to contain depreciation ahead of the implementation of capital charge for market risk. Bankers said that most of them are convinced that interest rates are likely to move ... More

Andhra Bank announces Sunday banking
This would cater to the needs of the customers for transactions such as receipts and payments, clearing, remittances and safe deposit lockers, the bank said in a press release here on Monday. Having introduced the Sunday banking facility at ... More