The Hindu Business Line : Thursday, September 11, 2003

No plan to merge IL&FS with IDFC
THE Ministry of Finance has ruled out any immediate plan to merge Infrastructure Leasing and Financial Services (IL&FS) with Infrastructure Development Finance Company (IDFC). Official sources said that though there had been some talks on the ... More

FOREX

Rupee gains 7 paise; bonds dip
MUMBAI: The rupee closed stronger at 45.7325 per dollar on Wednesday, around 7 paise firmer as compared to Tuesday's close at 45.80/81. The domestic currency opened the day at 45.78/79. Dealers said that the rupee gained on account of ... More

CREDIT RATING

HDFC Bank debt programme rating
CREDIT rating agency FITCH has assigned a triple A (ind) rating, to the Rs 400-crore subordinate debt programme of HDFC Bank Ltd. The `AAA (ind)' rating assigned to the deposits programme of the bank has also been reaffirmed, said a press ... More

PRIVATE BANKS

IndusInd hires KPMG for risk management system
INDUSIND Bank has engaged KPMG Consulting to assist it to develop an enterprise-wide risk management framework which would cover risks across all function streams. IndusInd aims to benchmark its risk management practices to international ... More

LVB raises Rs 50 cr via tier-II bonds issue
LAKSHMI Vilas Bank (LVB) has announced that it has successfully mobilised over Rs 50 crore through its tier-II bond issue well within the stipulated time frame. The issue was scheduled to close on September 29. AK Capital Services acted as the ... More

PUBLIC SECTOR BANKS

Canara Bank gets RBI nod for China branch
THE public sector Canara Bank has received the Reserve Bank's approval for setting up a representative office in Shanghai, China. A bank release said here on Wednesday that the bank was also pursuing with the regulators in China to enable it ... More

BoI off-site ATM from today
COIMBATORE: Bank of India's (BoI) first off-site ATM with multiple branch banking (MBB) connectivity at Sathy Main Road in Coimbatore will go live on September 11. The Vice-Chancellor of Bharathiar University, Dr S. Sivasubramanian, is ... More

INTERVIEW

SBI chief sees credit pick-up from Oct
MR A.K. Purwar, Chairman, State Bank of India, doesn't give us the satisfaction of eliciting a sensational news break. A past master in the art of deflecting questions with a smile or a counter question, Mr Purwar is always guarded in his ... More

BONUS ANNOUNCEMENTS

LIC bonus at Rs 9,246 crore
MUMBAI: Life Insurance Corporation of India will be distributing Rs 9,246 crore as bonus to its policyholders out of its Rs 9,733 crore surplus, for the year ended March 31, 2003. The surplus has emerged as a result of actuarial ... More

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