The Hindu Business Line : Saturday, July 26, 2003

HDFC Group to follow Standard Life investment policy
HDFC Group wants to follow the investment strategy of its foreign partner - Standard Life, which bet on equities in the long term, Mr Deepak Parekh, Chairman, HDFC today said. However, in India, investment in equities by life insurance ... More

FOREX

Re gains further
MUMBAI: The domestic currency closed higher against the dollar at 46.1250/1350 on Friday, around 3 paise stronger as compared to Thursday's close at 46.16/1650. Dealers said the market was largely in selling mode, with foreign banks ... More

CII plans talks with Govt, RBI on rising rupee
THE Confederation of Indian Industry (CII) plans to initiate discussions with the Centre and the Reserve Bank of India to address the concern of the appreciating value of the rupee while competing countries are intervening to prevent their ... More

INFORMATION TECHNOLOGY

Pune co-op bank installs ebz Online's software
PUNE-based co-operative bank, Shree Suvarna Sanhakari Bank Ltd, took its first step towards high-tech banking by installing `Sarvatra', an anywhere money software system, developed by ebz Online Pvt Ltd. The system would enable bank members to ... More

Shared ATMs of 5 PSBs take off today
ABOUT three million customers of five banks — Bank of India, Indian Bank, Union Bank of India, United Bank and Syndicate Bank — will have access to all the ATMs of all the five banks from tomorrow, when the `shared ATM network' of the ... More

STOCKS

Stake sale buzz buoys UTI Bank
RUMOURS of a stake sale by parent UTI has introduced an element of buoyancy in the UTI Bank counter in the recent past. Brokers said that the bank's shares on the bourses have been firming up ever since it became known that UTI-1 has sought ... More

LIFE INSURANCE

Tata AIG declares 4 per cent bonus
TATA AIG Life Insurance Company Ltd has announced a reversionary bonus of 4 per cent of the sum assured for its customers, for the financial year 2002-03. The bonus is applicable for eligible participating plans, reaching their first and second ... More

Syndicate Bank to sell Allianz Bajaj Life products
SYNDICATE Bank has signed a memorandum of understanding with Allianz Bajaj Life Insurance Company for the distribution of insurance products through the bank's branch network. In the first phase, the bank will sell Allianz products through 11 ... More

PRIVATE BANKS

Retail shift takes Centurion to profit
WITH a shift to retail assets from corporate and lower cost funds, Centurion Bank has come back to the black with a net profit of Rs 40 lakh for the quarter ended June 30, 2003 as against a net loss of Rs 3.66 crore during the corresponding ... More

PUBLIC SECTOR BANKS

UBI plans fast-track for SSI, farm credit
UNITED Bank of India has proposed to establish a fast-track system for processing credit applications from small-scale and agriculture sectors. This will necessitate a minor reorientation of its administrative structure, an exercise aimed at ... More

FINANCIAL INSTITUTIONS

Exim Bank extends line of credit to Djibouti bank

FIs decide to shed stake in SWIL

CORPORATE BONDS

SIB bond issue fully subscribed

NEW PRODUCTS & SERVICES

Union Bank unveils multi gains scheme in Coimbatore
UNION Bank of India has launched its `Multi Gains Savings Account Scheme' in Coimbatore region. The scheme would be implemented in 10 out of 46 branches in this region before the end of September, Mr C. Abraham, Regional Manager, said. While ... More

Canara kicks off Net, mobile banking

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