The Hindu Business Line : Wednesday, November 26, 2003

Kakathiya Bank awarded for performance
KAKATHIYA Grameena Bank, the Warangal-headquartered regional rural bank (RRB) sponsored by State Bank of India (SBI) has been adjudged the second best bank under the `Best Performance Bank Recognition' award instituted by SBI for its 30 sponsored ... More

INSIGHT

Market linkages increase systemic risk
THE last couple of weeks have seen the rupee come down quite a bit. The domestic currency has been sold off quite sharply to 45.80 - 45.90 levels from around 45.25 against the dollar, reversing its almost continuous rise of the past few ... More

FOREX

ECB curbs — A clichéd approach to tackling forex riches?
ABOUT a decade and a half ago, three of us were invited to conduct a foreign exchange training programme sponsored by the central bank of a West Asian country. Some of the speeches at the inauguration were in the local ... More

Leverage the appreciating rupee
THE measures announced by the Reserve Bank of India recently aimed at making it difficult for companies to access foreign funds through the ECB (external commercial borrowing) route indicate that the central bank wants ... More

Rupee moves in narrow range
MUMBAI: The Indian rupee on Tuesday moved in narrow band of six paise but closed 3.50 paise higher at 45.92/93 in its value against the dollar. The domestic currency has lost 1.25 per cent in the past fortnight on weak dollar supplies, ... More

INSURANCE

HCL Tech expands LOMA ties
NEW DELHI: HCL Technologies Ltd, today said it has stepped up its engagement with LOMA, an international insurance research organisation for professional development, in order to enhance its insurance practice. The engagement now gives ... More

CONSUMER FINANCE

Karnataka Bank loans for gold purchase
MANGALORE: Karnataka Bank Ltd has launched a credit product, `KBL Swarna Nidhi,'to purchase gold ornaments from reputed jewellers. The scheme covers resident Indian women in the age group of 18 to 60 years in the case of ... More

DERIVATIVES MARKETS

RBI report soon on derivatives trading
THE Reserve Bank of India is engaged in bringing about harmonisation between the over-the-counter (OTC) and exchange-traded interest rate derivatives markets, said a senior central banker. "We are in advanced stages of preparing a report, ... More

PRIVATE BANKS

ING Vysya services under single brand — Foreign partner in no hurry to hike stake in ventures
THE ING group has indicated that it will wait for the terms and conditions of the Government before taking any decision on increasing its stake in the domestic banking and life insurance arms. The group holds 44 per cent stake in ING Vysya Bank ... More

PUBLIC SECTOR BANKS

Bank of India cuts prime lending rate
BANK of India has cut its prime lending rate (PLR) by 0.5 percentage points to 11 per cent effective December 1, 2003. "Pending emergence of guidelines for a benchmark PLR, Bank of India has taken this step to work out its own PLR in accordance ... More

NON-PERFORMING ASSETS

ECGC shells out Rs 31 cr towards guarantee claims
EXPORT Credit Guarantee Corporation of India Ltd (ECGC) has paid seven large value guarantee claims aggregating to Rs 31.10 crore on account of the failure of exporters to repay the export credit advances to the banks. The corporation has paid ... More

CREDIT CARDS & DEBIT CARDS

Jet Air, Citi extend co-branded card offer
EXTENDING the offer of a co-branded card to the mass market, Jet Airways and Citibank on Tuesday launched the Jet Airways Citibank Silver Credit Card. The two companies had, earlier in mid-2000, launched the Jet Airways Citibank Gold Credit ... More

MERGERS & ACQUISITIONS

IndusInd may take over Ashok Leyland Finance — Board meeting on Dec 2
THE Hinduja-promoted, IndusInd Bank is to convene a board meeting on December 2, to consider merger with or takeover of a non-banking finance company. Ashok Leyland Finance Ltd, a group company, is one of the entities being considered amongst ... More

SECURITY

Banks asked to share security info with police
THE Deputy Commissioner of Dakshina Kannada, Mr Arvind Srivasthav, has asked the banks in the district to share information with police on the kind of security system they have adopted. Participating in the district-level security committee ... More

EVENTS

Uday Kotak says world's jobs are moving to India
INDIA is fast becoming a nation of investors and spenders and not remaining just a country of savers. And the Indian financial services sector is being shaped by a low interest rate regime and a cultural change. Another factor driving the ... More

ECONOMIC OFFENCES

Former BoR chief Bangur gets bail
A DIVISION Bench of the Calcutta High Court comprising Mr Justice N.A. Choudhury and Mr Justice Girish Gupta on Monday granted bail to Mr Keshab Bangur, erstwhile head of Bank of Rajasthan, who was arrested on January 10, 2003, for alleged link ... More

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