The Hindu Business Line : Tuesday, December 16, 2003

`Bankability crucial for investments in agriculture'
JUST as a banker is bound by duty to ensure financial viability and bankability of any investment activity that he chooses to provide finance for, the same caveats would apply in financing investments in agricultural and allied activities, too. ... More

FOREX

When yuan plays mischief... Switch to the basket peg
While the free float of the yuan can wait, China should consider the option of switching over to a `basket peg' of key currencies of major trading partners. This is the second best solution to the one-dose medicine of revaluation. It is time China got out of the dollar peg. However, emerging markets have more to learn from China than to preach sermons to it, says D. Sambandhan. More

Rupee ends steady; bond volumes thin
MUMBAI: The rupee closed steady at 45.55/56 per dollar on Monday in a lacklustre forex market, down by a notch from Friday's closing of 45.5450/5550. Dealers said the market was thin and the rupee traded in a narrow range after opening ... More

INFORMATION TECHNOLOGY

Kerala to have world's first-ever floating ATM
KERALA has almost all banks both nationalised and private competing with each other for providing more and more value-added services. The latest in this series is going to be a floating ATM (automated teller machine), first of its kind in India ... More

PNB plans to network 2,500 branches by 2005
PUNJAB National Bank (PNB) expects to connect 2,500 of its branches by March 2005. As of now, 374 branches in 72 locations have been linked, and this number is expected to rise to 500 branches in 180 locations by the end of this ... More

LIFE INSURANCE

Union Bank to market HDFC Standard Life products
UNION Bank of India (UBI) launched the marketing of life insurance and pension products from HDFC Standard Life in the Thiruvananthapuram Region on Monday. At a function here, Mr P.K. Bansal, Assistant General Manger with the UBI Central ... More

HUMAN RESOURCES

SBI officers wary of appointment of advisors
THE officers' community at State Bank of India are spotting a roadblock in the `fast track' career plan being put in place. Ironically, the officers feel that the management itself is setting up the roadblock. Under fire from the SBI Officers' ... More

PUBLIC SECTOR BANKS

IOB in pact with TTK group for NRI services
INDIAN Overseas Bank (IOB) has tied with TTK Services for offering a range of services to NRIs including healthcare to dependants and property services in India. Through this move, the bank has introduced a slew of new initiatives aimed at ... More

FINANCIAL INSTITUTIONS

IDBI to get Rs 2,500-cr recap assistance
BACKED with the assurance from the Finance Minister, Mr Jaswant Singh, that the Government would provide Rs 2,500 crore for the recapitalisation of IDBI spread over five years, the Parliament on Monday cleared the Industrial Development Bank of ... More

GOVT BONDS

Retail gilts trading drops to zero
RETAIL trading in government securities on the stock exchanges has virtually dwindled to zero transactions within a year of commencement. In fact, as per the latest available data with the National Stock Exchange, there was no retail trade in ... More

CREDIT MARKET

Kerala: Financial aid to overseas returnees yet to pick up
DESPITE the huge NRE deposits in the banks in the State, the flow of assistance from financial institutions to the returnees from overseas employment continues to be very thin. The NRE deposits in Kerala has been showing a phenomenal growth, ... More

FIXED DEPOSITS

Crisil rating for Federal Bank FDs
KOCHI: Crisil has assigned the highest rating P1+ to short-term fixed deposits of Federal Bank. The rating covers all fixed deposits of the bank with a contracted maturity of up to one year. The rating indicates that the degree of ... More

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