The Hindu Business Line : Thursday, December 18, 2003

Govt buyback of equity from banks likely after Budget
The buyback at par would, however, be restricted to only a handful of public sector banks, which have not been part of the earlier rounds. More

INSIGHT

HSBC acquiring UTI Bank: A palace coup
While framing the Articles of Agreement connected with the share issue to CDC, the UTI Bank seems to have tripped up. The Agreement stipulated that the UTI should continue to hold 26 per cent equity in the bank. While the UTI was subject to these ob ligations, there were no counter obligations on the other holders, especially CDC. More

FOREX

Will the rupee maintain upward trend?
Since the excess dollar supplies in the market have been responsible for buoying the rupee to all-time highs in the recent past, it is unlikely that the rupee will remain strong once the supplies slow down, say analysts. More

Rupee up; gilts rally
MUMBAI: The rupee gained just over a paise to close at 45.5175 on Wednesday from Tuesday's close of 45.5350/5450. The domestic currency opened at 45.53/55 with the intra-day high being 45.5475 and the intra-day low at 45.5150 against ... More

INSURANCE

New chairmen for life, general insurance councils
THE Insurance Regulatory and Development Authority (IRDA) has announced new Chairmen for the life and general insurance councils. In an announcement, the Authority has nominated the IRDA Member (Life), Mr T.K. Banerjee, as the Chairman of the ... More

RBI & OTHER CENTRAL BANKS

RBI lifts forex ban on Hero Honda, others
THE Reserve Bank of India has withdrawn its directive issued to authorised dealers in January this year, prohibiting them from releasing foreign exchange to Pepsi Foods Ltd, Hero Honda Motors Ltd and LG Electronics India Pvt Ltd, in connection ... More

PRIVATE BANKS

iGATE inks $20-m deal with ING Vysya
SOFTWARE maker, iGATE Global Solutions, has signed a $20-million IT outsourcing contract with ING Vysya Bank, spread over five years. Under the pact, iGATE Global will take over the responsibility of all data centre operations, systems and ... More

PUBLIC SECTOR BANKS

PNB declares 25 pc interim
PUNJAB National Bank has declared an interim dividend of 25 per cent for the financial year 2003-04. The interim dividend shall be payable to those shareholders whose names appear in the register of members on December 22.. The proposed date ... More

SECURITISATION

Mardia hearing rescheduled to January 7 & 8
THE Supreme Court has rescheduled the hearing of the Mardia Chemicals case to January 7 and 8 on the request of the Solicitor General of India. The landmark case's final ruling is expected to have a bearing on the entire Indian banking industry ... More

TRADE & LABOUR UNIONS

State Bank TU General Council
THIRUVANANTHAPURAM: The State Bank's Staff Union (SBSU), Kerala Circle, has set up a 251-member reception committee in the run-up to the second general council of SBSU to be held here on December 28 and 29. A preparatory meeting presided ... More

EVENTS

Lecture on rural banking

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