The Hindu Business Line : Saturday, May 17, 2003

`Dollar has resilience to bounce back'
"CURRENCIES have had a tendency to undershoot and overshoot on both sides of what one might describe as the mean or median rally. One is not a wee bit surprised that the euro should have strengthened far more than one might have thought versus ... More

INSURANCE

`Pvt insurance can't be limited to profitable business alone'
AS the public sector insurance companies have resorted to various measures to reduce their liabilities such as to avoid insuring commercial vehicles, the General Insurance Officers All-India Association has urged the IRDA and the Government to ... More

NBFCS

NBFCs seek powers under Securitisation Act — Action against defaulters
IT is now the turn of non-banking financial companies (NBFCs) to knock at the doors of officialdom for greater empowerment. After co-operative banks got themselves listed under the Securitisation Act, the NBFC sector has recently moved the ... More

LIFE INSURANCE

OM Kotak to focus new policy only in 6 cities
OM Kotak Mahindra Life Insurance Company Ltd will focus its recently launched policy, Kotak Safe Investment Plan (KSIP), only in six major cities. The Managing Director of OM Kotak Life Insurance, Mr Shivaji Dam, announced this at a press ... More

GENERAL INSURANCE

Bajaj Allianz opens second office in J&K
BAJAJ Allianz General Insurance Company Ltd has opened its second office in Jammu & Kashmir, in association with the Jammu & Kashmir Bank, located at the latter's corporate head quarters. Since the time the bank tied up with the insurance ... More

PRIVATE BANKS

Federal Bank posts Rs 105-cr net
THE net profit of the Aluva-based Federal Bank has crossed the Rs 100 crore mark in the last fiscal to touch Rs 105 crore, recording a growth of 28 per cent. The bank, which has been in a high growth trajectory over the past few years, has ... More

ING Vysya net up 26%; to pay 40 pc
ING Vysya Bank has logged a net profit of Rs 86.35 crore for the financial year 2002-03, up from Rs 68.75 crore last year, a growth of 26 per cent. The board has recommended a dividend of 40 per cent for the year ended March 2003 (results in a ... More

PUBLIC SECTOR BANKS

SBI to bundle MFs with insurance
THE State Bank of India group is finally bundling its mutual funds with insurance, courtesy a proposal mooted by SBI Funds Management, which has as its USP a cover structured by SBI Life Insurance. The proposal, Magnum Income Plus, will provide ... More

GOVT BONDS

Profit-making banks not keen on bond buyback
The bankers said the only banks that were likely to benefit from the buyback programme were those with still large accumulated losses on their books. More

E-COMMERCE & E-BUSINESS

CashTech implements CashIn for Andhra Bank
CASHTECH Solutions India Pvt. Ltd has implemented its cash management product — CashIn for Andhra Bank. According to company sources, this product would enable Andhra Bank provide its corporate clients with a host of value-added cash ... More

CO-OPERATIVES

Rural co-op banks may get ADB recap
Nabard has targeted reaching 10 lakh self-help groups in the rural sector by 2005. More

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