Financial Daily
from THE HINDU group of publications

Thursday, August 10, 2000




Banking & Finance

Banking and Finance
Card revamp: Andhra Bank to appoint Andersen Consulting
ANDHRA Bank has shortlisted Andersen Consulting, the sister concern of the global accountancy firm Arthur Andersen, to suggest steps to revamp operations at its credit card division.

Deutsche Bank takes over IITCS' custodial services
DEUTSCHE Bank (India) on Wednesday announced the acquisition of the custody and investor services business of Industrial Investment Trust Corporate Services (IITCS), custody provider in the Indian market.

Canara Bank raises PLR to 12 pc
BANGALORE: Canara Bank has hiked its prime lending rate by 25 basis points to 12 per cent. The hike in the PLR reflects the tightening liquidity situation in the financial markets.

Bank of Maharashtra hikes PLR to 13 pc
CHENNAI: Bank of Maharashtra has revised its prime lending rate (PLR) by 0.5 per cent to 13 per cent with effect from August 8. -- Our Bureau

Janashree Bima for weaker sections finalised
NEW DELHI: The Government has finalised the Janashree Bima Yojana, a life insurance policy for the weaker sections, which was announced by the Finance Minister, Mr. Yashwant Sinha, in the Union Budget for 2000-01.

United Western launches information campaign
MUMBAI: United Western Bank has commenced its `Aapulki Abhiyaan', a programme aimed to inform its customers of the banking products available and help them identify their specific need vis-a-vis banking services. The programme has been launched throughou t the bank's 220-branch network this month.

Rehab of co-op farm banks -- Central aid to hinge on clean balance sheet, downsizing
AGRICULTURE and rural development banks in the cooperative sector (ARDBs) will have to clean up their balance sheets, downsize their workforce and upgrade technologically to be eligible for financial assistance from the Centre.

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