The Hindu Business Line : Thursday, December 25, 2003

Rupee down 3 paise; securities flat
MUMBAI: The rupee on Wednesday finished three paise weaker at 45.58/59 in its value against the dollar. On Tuesday, the domestic currency closed at 45.55/56. There was good FII inflow, which was met with some corporate demand and central ... More

Exporters going dollar-shy, take a fancy to euro
THE dollar appears to be slowly losing `market share' to the euro as the currency of choice for invoicing purposes by domestic exporters. In fact, earlier around 80 per cent of India's exports were invoiced in dollars with the remaining 20 per ... More

INFORMATION TECHNOLOGY

Canara Bank plans more ATMs
MANGALORE: Canara Bank is planning to increase the number of ATMs in the country to 500 by March 2004 and to 1,000 by March 2005. Inaugurating the 286th ATM of the bank at National Institute of Technology Karnataka (NITK) Extension ... More

Implementation of online clearing system — Liquidity managers emerging in banks
The new post to be occupied possibly by money market dealers will monitor inflow and outflow of funds on a minute-by-minute basis. More

SOFTWARE

Finacle enters China
INFOSYS Technologies Ltd announced that ABN Amro Bank, has chosen to deploy Finacle in the Greater China region across Mainland China, Taiwan and Hong Kong. ABN Amro Bank will deploy Finacle in areas of core banking, consumer Internet banking, ... More

HOUSING FINANCE

Can Fin Homes' offer
THIRUVANANTHAPURAM: Can Fin Homes has announced a special offer of customised interest rates for customers as part of an all-India business campaign. A Can Fin Homes spokesman quoted Mr Peter D. F. Cardozo, Managing Director, as saying ... More

GENERAL INSURANCE

National Insurance Co on a high on capturing Reliance business
AFTER grabbing a significant chunk of Reliance Industries' business from New India Assurance Company, National Insurance Company Ltd is confident of finishing the current financial year as India's leading general insurance company. According to ... More

RBI & OTHER CENTRAL BANKS

RBI embargo on guarantees — ECB proposals worth $1,000 m pile up with banks, FIs
A Managing Director of a medium-sized corporate house, whose ECB has been held up to the RBI decision, severely criticised the apex bank's move. More

RBI sets up panel to study service quality
THE Reserve Bank of India has set up a committee on procedures and performance audit on public services. As stated in the mid-term review of the monetary and credit policy for 2003-04, the committee is expected to benchmark the current level ... More

PRIVATE BANKS

Temasek buys 5.2% equity in ICICI Bank
THE Singapore-based investment holding company, Temasek Holdings (Pte) Ltd has acquired 5.2 per cent of the paid-up equity capital of ICICI Bank Ltd from the market. The deal was done through the Tamasek's affiliate, Allamanda Investments Pte ... More

Global Trust Bank gets AGM nod for new auditor
THE tenth annual general meeting of Global Trust Bank Ltd (GTB) on Wednesday approved the appointment of M Bhaskara Rao & Co as the statutory auditors in place of the retiring auditors PricewaterhouseCoopers. The appointment will be in vogue ... More

ICICI Bank opens unit in Toronto

FINANCIAL INSTITUTIONS

Nabard to support SSI technology upgradation
THE National Bank for Agriculture and Rural Development (Nabard) has been nominated as a nodal agency for implementation of India's credit-linked capital subsidy scheme (CLCSS) for technology upgradation of the small-scale industries ... More

TRADE & LABOUR UNIONS

State Banks' Staff Union on warpath
THE second triennial general council of the State Banks' Staff Union (SBSU) (Kerala Circle) to be held here on December 28 and 29 will chalk out a detailed programme of direct action to press its demand for maintaining status quo with the ... More

EVENTS

`Banks must make good use of rural financial infrastructure'
THE former Chairman and Managing Director of Syndicate Bank, Dr N.K. Thingalaya, has said that the banking sector should focus on better utilisation of the installed capacity of the existing rural financial infrastructure than merely treating it ... More

`Bancassurance meet' in Thiruvananthapuram
THIRUVANANTHAPURAM: The banking and insurance sector should tune itself to address the needs of the common man in a more effective manner, according to Mr Vakkom Purushothaman, Speaker of the Kerala State Legislative Assembly. He said ... More

CO-OPERATIVES

Centenary of co-op movement to be celebrated in Kerala
ELABORATE programmes including seminars, workshops and exhibitions will be organised across Kerala in 2004 to celebrate one hundred years of the Indian cooperative movement. The celebrations will begin in January next year and will go on till the ... More

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