The Hindu Business Line : Saturday, September 24, 2005

Canara Bank merges 4 RRBs in Karnataka
CANARA Bank has merged the four regional rural banks in its fold and created a new one called the Pragathi Gramin Bank with effect from the next month. A Canara Bank release said that the consolidated bank would have a deposit base of Rs 1,338 ... More

Karnataka Vikas Grameena Bank to be headquartered at Dharwar
KARNATAKA Vikas Grameena Bank — which was formed after amalgamating Malaprabha Grameena Bank, Bijapur Grameena Bank, Nethravathi Grameena Bank and Varada Grameena Bank, all regional rural banks sponsored by Syndicate Bank — will have ... More

FOREX

Rupee firms up; securities down
MUMBAI: The rupee opened lower against the dollar at 43.94/95 and stayed at those levels, until news that China was widening the yuan's trading range came in. The rupee then recovered to end trade at 43.90/91, a tad higher than the ... More

LIFE INSURANCE

ICICI PruLife ties up with American College for insurance course
ICICI Prudential Life Insurance has tied up with American College to provide the LUTC (Life Underwriter Training Council) certification course for its top-performing life insurance agents. The course, which consists of six modules on ... More

GENERAL INSURANCE

Insurers use bull run profits to boost capital
Along with the public sector insurers, some of the private sector non-life insurers have also booked large profits as a result of the bull run in the stock markets. More

PRIVATE BANKS

IDBI plans info kiosks with trading facility
IDBI Ltd is planning to set up information kiosks with transaction facility, which will allow customers to check their balance, transfer funds within the bank and even pay utility bills. Unlike normal kiosks, which require username and ... More

ICICI Bank plans to embark on rural market penetration
ICICI Bank Ltd plans to embark on a two-pronged strategy of rapid penetration into the rural market, unlocking the power of technology, while laying special thrust on overseas expansion. The Managing Director of ICICI Bank, Mr K.V. Kamath, said ... More

PUBLIC SECTOR BANKS

State Bank in pact with BPCL
STATE Bank of India, in association with Bharat Petroleum Corporation Ltd (BPCL), has launched a `No Fuel Surcharge Programme'. According to a BPCL release, this arrangement offers the customer an opportunity to use debit card just like cash. ... More

Canara Bank to raise Rs 500 cr via bonds
CANARA Bank's Tier-II fixed coupon bond issue, to raise Rs 500 crore, opened on Friday. The interest rate is 7.4 per cent with a tenor of 115 months. The bank is raising the capital to shore up its capital adequacy ratio (CAR) in line with ... More

INTEREST RATES

`Case for marginal hike in deposit rates'
THERE is a case for a slight hike in interest rates on deposits while reducing the rate on small savings, according to Dr C. Rangarajan, Chairman, Economic Advisory Council to the Prime Minister. Referring to the concern on the slow down of ... More

GOVT BONDS

No outright trading in G-Secs on Saturdays from Oct 8
THERE will be no outright transactions in G-Secs on Saturdays, starting from October 8, the Reserve Bank of India announced on Friday. The G-Secs traded on Friday on T+1 basis would be settled on Monday or on the next working day in case ... More

FIXED DEPOSITS

Banks, coops get more time to file quarterly returns of deposits
ONE of the two anti-tax evasion measures introduced by the Government through the Union Budget for 2005-06 appears to be facing implementation problems. The Finance Ministry has once again extended the due date for filing of quarterly return ... More

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