Financial Daily
from THE HINDU group of publications

Tuesday, August 29, 2000




Banking & Finance

Banking and Finance
PM to address bankers' meet on Aug 30
THE Prime Minister, Mr. A.B. Vajpayee, will address a meeting of bankers in New Delhi on August 30. The issue of providing adequate bank loans to small-scale industries, among other things, is likely to come up for a review. The formation of a credit gua rantee trust fund, especially for the small-scale sector under the Small Industries Development Bank of India (SIDBI) may be announced at the meeting, according to banking industry sources.

PNB scheme for finance against immovable property
PUNJAB National Bank (PNB) has introduced a scheme for providing finance against mortgage of immovable property. The scheme is designed to offer a quick solution to the financing needs of a business or to finance an individual's personal needs.

Aggregate deposits with commercial banks up 4.6 pc
THE aggregate deposits of scheduled commercial banks have increased by 4.6 per cent at Rs. 37,081 crores during the first quarter of 2000-2001 as against 2.1 per cent in the year ago period, according to the Annual Report of the Reserve Bank of India.

Annual numbers game
STATISTICS is for bankers what body-enhancing drugs is for sports persons: A good, practical, conning game. At recent meetings with the RBI, bankers have tried to drive home the point that the surge in non-food credit is a numbers gimmick, which is not t o be taken at any value.

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