The Hindu Business Line : Saturday, September 13, 2003

Farm credit stuck in target talk
A foreign bank, Rabo Bank, is reported to have on hand detailed studies on the working of mandis and marketing of various crops across the country while no nationalised bank has even thought of working on the idea. More

COURTS/LEGAL ISSUES

Centurion Bank gets court nod for Sabre revamp plan
The merger of Bank Muscat, which operates through a single branch in Bangalore, with Centurion Bank awaits the final hearing of the Karnataka High Court scheduled for October 10, 2003. More

FOREX

Rupee down 10 paise; g-secs move up
MUMBAI: The rupee slipped by 10 paise to close weaker on Friday at 45.80/81 against the dollar, as compared with Thursday's close of 45.70/7050. The domestic currency opened the day at around 45.70. Forex dealers said foreign banks and ... More

GENERAL INSURANCE

Oriental Insurance in pact with Malda bank
KOLKATA: Oriental Insurance Company Ltd has signed an agreement with the Malda-based Gaur Gramin Malda Bank for marketing of general insurance products on Friday. According to a press release issued by Oriental Insurance, the agreement ... More

FOREIGN DIRECT INVESTMENT

UK insurers want FDI cap raised
THE UK is determined to enter the Indian insurance sector in a big way and is currently exploring whether there are any prospects of rise in the 26 per cent limit on foreign direct investment (FDI) in this sector, according to Lord Mayor of the ... More

PRIVATE BANKS

ING Vysya Bank to raise Rs 200 cr through bonds
THE private sector ING-Vysya Bank has placed its tier-II capital bonds in the markets at 6.25 per cent amounting to Rs 200 crore. Banking sources here said that the bonds, rated "AA plus" by both Fitch and Crisil, have a 10-year maturity ... More

PUBLIC SECTOR BANKS

SBI to launch 2 plans for NRIs
STATE Bank of India will be launching two new deposit schemes for non-resident Indians — Pravasi Vaibhav and Pravasi Samriddhi — on September 24 for a limited period. Pravasi Vaibhav is a deposit scheme denominated in rupees with ... More

Five PSBs unveil Cash Online ATM network
Canara Bank, Central Bank of India, Indian Overseas Bank, UCO Bank and Union Bank of India, today co-branded their ATM network tie-up as "Cash Online". The dismantling of the Swadhan ATM network effective from December 2003, has led banks, both ... More

FINANCIAL INSTITUTIONS

Escorts group cos make open offer for EFL stake
TWO Escorts group companies have made an open offer to acquire up to 80,50,000 equity shares of Escorts Finance Ltd (EFL) at Rs 10. The offer closes on September 20. According to an official statement, the shares are being acquired by Escorts ... More

INTEREST RATES

Bank chiefs to discuss benchmark PLR on Sept 16
THE Reserve Bank of India has called a meeting of bank chiefs on September 16, to discuss and take forward the issue of arriving at a benchmark prime lending rate. According to banking circles, Dr Rakesh Mohan, Deputy Governor RBI, will convene ... More

CREDIT CARDS & DEBIT CARDS

UTI Bank launches Travel Currency Card
AS part of its latest initiative to the travel and tourism industry, UTI Bank has stepped into Kochi by launching its new product — Visa Electron Travel Currency Card — in the State. This signature based pre-paid travel card (US ... More

REGULATORY BODIES & RULINGS

IRDA calls public input for discount schemes
THE Insurance Regulatory and Development Authority (IRDA), which has recently constituted an expert committee for examining the practice of special discount and also the remuneration structure of insurance brokers and insurance agents in general ... More

CO-OPERATIVES

Kakinada co-op bank net at Rs 2.14 crore
THE Kakinada Co-operative Town Bank earned a net profit of Rs 2.14 crore during 2002-03. At a press conference here, Mr M.V.V Satyanarayana, Chairman, said the bank had been given the Grade A audit certificate. It had 11 branches and one more ... More

Comments & Letters to the Editor to: bleditor@thehindu.co.in
Subscribe to: Business Line