Financial Daily
from THE HINDU group of publications

Tuesday, May 30, 2000




Banking & Finance

Banking and Finance
Vijaya sets off losses against equity capital -- Plans Rs 100-cr IPO in July
IN what is described as a dress-up to attract investors, Vijaya Bank last year set off accumulated losses of Rs. 293.87 crores against its equity capital.

`Call rate to stay in 7.5-8 pc range'
CALL money rates are expected to remain in the 7.50-8 per cent range, according to the weekly update on fixed income securities from ICICI Securities (I-Sec).

Foreign bank plays the market on its own terms
A LEADING foreign bank has adopted ring fencing in its transactions in the inter-bank market. The US parent is not prepared to guarantee the financial behaviour of its fully-owned subsidiary based in India. In a way, the US parent has no confidence in th e country.

SBH shelves IPO, awaits amendments to SBI Act
STATE Bank of Hyderabad (SBH), one of the subsidiary banks of the State Bank of India (SBI), has decided to shelve its initial public offer (IPO) for the time being.

SBT hikes FCNR rates
STATE Bank of Travancore (SBT) has raised the FCNR interest rates for US dollars, which will now fetch a maximum of seven per cent per annum.

M. M. Vaish passes away
MR. M. M. Vaish, Chairman and Managing Director of Bank of Maharashtra, passed away in Pune early today morning following a heart attack. He was 58.

Vysya leasing subsidiary converted to marketing co
VYSYA Bank has converted its leasing subsidiary, Vysya Bank Leasing, into a marketing company. The leasing company, with a new name, would be the bank's marketing arm in future.

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