The Hindu Business Line : Tuesday, November 11, 2003

Rupee a tad lower; gilts range-bound
MUMBAI: The rupee closed about two paise lower on Monday at 45.2850/2950 in its value against the dollar. On Friday, the domestic currency has closed at 45.2600/2650. There was heavy selling of the greenback by various players, which ... More

SOFTWARE

ABN Amro, ING Vysya to deploy LogicaCMG tool
IN anticipation of the rollout of the Reserve Bank of India's real time gross settlement programme, ABN Amro and ING Vysya have signed up with IT services provider LogicaCMG for the deployment of the latter's RTGS solution. LogicaCMG made this ... More

Ethiopian bank to use i-flex tool
BANGALORE: i-flex Solutions has announced that Dashen Bank SC of Ethiopia would be deploying its flagship product, FLEXCUBE. The deployment encompasses all the 29 branches of the bank, enabling it to ramp up its retail banking operations ... More

HOUSING FINANCE

Dewan Housing gets $12.5-m IFC term loan
DEWAN Housing Finance Corporation Ltd has obtained a term loan equivalent to $12.5 million from International Finance Corporation, a World Bank arm. This loan is for funding of the company's housing finance operations. The company's focus on ... More

ICICI Bank cuts deposit, home loan rates
CLOSE on the heels of State Bank of India cutting deposit rates last week, ICICI Bank on Monday announced a 25-50 basis points reduction in domestic deposit rates in various maturities. The bank has also trimmed on the interest rate on ... More

LIFE INSURANCE

SBI Life cover for 4,400 tea workers
SBI Life Insurance Company Ltd has covered 4,400 employees of the Bombay Burmah Trading Corporation tea estate in Coimbatore through `Sudarshan', its endowment policy that has been modified to meet the workers' needs. For the first time, SBI ... More

PRIVATE BANKS

Bank facilities at Sabarimala
KOCHI: The Dhanalakshmi Bank Ltd, the official bankers to the Travancore Devaswom Board, will open its seasonal branches at Sabarimala Sannidhanam, Pamba and Erumely. These seasonal branches will start functioning from November 17, a fax ... More

PUBLIC SECTOR BANKS

Andhra Bank revises NRE rates
ANDHRA Bank has revised interest rates on term deposits under non-resident external rupee accounts (NRE accounts) with effect from Monday. The revised interest rates are 1.7 per cent (existing 1.55 per cent) for deposits of one year to less ... More

INTEREST RATES

`Enough liquidity buffer to sustain soft rates'
THE tightening of monetary policy by the Bank of England (BoE) and the Reserve Bank of Australia (RBA) over the past week, and speculation about the US Federal Reserve following suit, are unlikely to have any major impact on interest rates here, ... More

MERGERS & ACQUISITIONS

Promoters to hike stake in Bank of Rajasthan to 49%
"Our strategy has helped us add to our deposits, which now stand at around Rs 5,300 crore. Advances have also moved up in tandem to Rs 2,200 crore or so," Mr Tayal said. More

ALLIANCES & JOINT VENTURES

Corpn Bank, ING Vysya to share ATM network
CORPORATION Bank and ING Vysya Bank Ltd have signed an agreement facilitating mutual sharing of their automated teller machine (ATM) network. In terms of the MoU signed, 550 CorpBank ATM outlets will honour "Sambandh" cards of ING Vysya Bank ... More

EVENTS

Rear view

CO-OPERATIVES

Prudential Coop Bank meet
HYDERABAD: The depositors' association of the Prudential Cooperative Bank has convened a general body meeting of its members on November 23 to chalk out a course to pressurise the bank authorities to "give back their money". The ... More

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