Banking and Finance
Securities market dips despite auction notice
THE Government on Tuesday announced a Rs. 3,000-crore auction of an eight-year stock. The auction will be yield-based and will be conducted by the RBI on August 30.

GIC to be made national reinsurer: Minister
THE Union Minister of State for Finance, Mr. Balasaheb Vikhe Patil, on Tuesday said the General Insurance Corporation (GIC) would be converted into the national reinsurer and the Government was looking at amending the laws pertaining to the Corporation t o do so.

IndusInd Bank's e-com initiatives
INDUSIND Bank, promoted by the Hindujas, will commence mobile banking services in Mumbai and some cities in Gujarat shortly.

Lakshmi Vilas Bank gears for online services
TO keep pace with the latest developments in technology, The Lakshmi Vilas Bank (LVB) is gearing to provide online banking facilities soon.

IOB loan to cane growers
INDIAN Overseas Bank (IOB) will come out with a Rs. 110-crore public issue during the last quarter of September, according to Mr. R. Natarajan, General Manager.

Lessons from IT's stellar performance
THE RBI Annual Report, 1999-2000, has one bright spot in software exports. ``Software exports, with an average growth rate of around 50 per cent since 1995-96, have emerged as an important source of India's foreign exchange earnings, contributing to invi sible receipts,'' says the Report.

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