The Hindu Business Line : Saturday, February 15, 2003

TAIB Bank offering for NRIs
BAHRAIN-BASED foreign institutional investor TAIB Bank today launched its portfolio management Service (PMS) in India aimed at domestic and non-resident Indians. Addressing a press conference, Mr Iqbal G Mamdani, Vice Chairman and CEO TAIB Bank ... More

FOREX

RBI eases credit ceiling under EEFC accounts
THE Reserve Bank of India has lifted the ceiling on credit granted by exporters to their overseas buyers from their EEFC accounts. In a circular to authorised dealers, the RBI has said that this relaxation was being granted under the Exchange ... More

Rupee firmer; gilts volatile
Mumbai: THE rupee ended the almost four paise stronger at 47.8550/8650 against the dollar in a comparatively less volatile forex market on Friday. The sudden surge of demand for the greenback seems to have subsided. ``There was hardly any ... More

INFORMATION TECHNOLOGY

More PSBs join hands to share ATMs
WITHIN months of Bank of India, Punjab National Bank, United Bank of India, Syndicate Bank and Indian Bank forming a consortium to share their automated teller machines (ATMs), a couple of others have decided to follow suit. The Indian Overseas ... More

HUMAN RESOURCES

IIB tie-ups for training
THE Indian Institute of Bankers (IIB), which is into its platinum jubilee year, has tied up with a couple of international institutions to ramp up its training programmes. It has worked out arrangements with the Australian Securities Institute ... More

PUBLIC SECTOR BANKS

SBI earmarks Rs 500 cr for tech upgradation
STATE Bank of India (SBI) has earmarked around Rs 500 crore for technology upgradation and computerisation of 3,000 branches next year. Addressing presspersons at the inauguration of the single window system at its Gateway of India branch, Mr ... More

FINANCIAL INSTITUTIONS

Exim Bank extends $5-m line of credit to Lanka bank
EXPORT-IMPORT Bank of India (Exim Bank) and Hatton National Bank (HNB) Ltd of Sri Lanka have signed an agreement for a line of credit of $5 million from Exim Bank to HNB, to support India's exports to Sri Lanka. Under the line of credit, ... More

INTEREST RATES

Corpn Bank cuts FCNR (B) rates
CORPORATION Bank has revised its interest rates on FCNR (B) deposits with effect from February 14. This downward revision of interest rates will be applicable to FCNR (B) pound deposits. For pound deposits for a period between one year and less ... More

CORPORATE BONDS

Escorts debt issues marked down
CRISIL has downgraded Escorts Ltd's Rs 150-crore non-convertible debenture issue to BBB from A-. The Rs 20.46-crore non-convertible debenture issue has also been marked down to BBB from A-. According to a press release issued by Crisil, the ... More

MERGERS & ACQUISITIONS

IDBI-Bank merger nearer
IDBI is expected to appoint five to six specialised consultants to facilitate the conversion process. More

CO-OPERATIVES

AP co-op staff lay-off fears allayed
ALLAYING fears pertaining to the retrenchment of employees belonging to various co-operative agricultural credit societies and banks in the State, the Andhra Pradesh State Co-operative Bank Ltd (APCOB) said the measures currently being initiated ... More

ECONOMIC OFFENCES

Bangur bail plea turned down
A DIVISION Bench of Calcutta High Court comprising Mr Justice N.A. Choudhury and Mr Justice S.K. Gupta has rejected the bail prayer of Mr Keshab Bangur, Director of Bank of Rajasthan. The bail petition contended that earlier the CBI had ... More

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