The Hindu Business Line : Saturday, December 27, 2003

Rupee up 2 paise; securities buoyant
MUMBAI: The rupee closed marginally stronger at 45.56 per dollar on Friday, as against Wednesday's closing at 45.58/59. Dealers said, the domestic currency remained in a narrow two paise band on account of demand for the greenback being ... More

INFORMATION TECHNOLOGY

Online clearing may not cheer retail customers
Banks seem to be of the opinion that the Real Time Gross Settlement System platform set up by the RBI may not be viable for the retail customer. More

HOUSING FINANCE

Canara Bank unlikely to raise home loan rates
CANARA Bank is unlikely to increase interest rates on housing loans in near future. the Chairman and Managing Director of Canara Bank, Mr R.V. Shastri, told Business Line: "There is no stepping up of interest rates on housing loans". ... More

CONSUMER FINANCE

Banks mull tie-up with tractor makers
WITH tractor finance showing a decline in the past few years, national banks such as Andhra Bank and State Bank of India are planning to tie up with tractor manufacturers to help farmers in Andhra Pradesh. At a meeting of the State Level ... More

LIFE INSURANCE

Reduction in annuity rates for pension — PHD Chamber upset over LIC move
THE PHD Chamber of Commerce and Industry (PHDCCI) has urged the Life Insurance Corporation to formulate guidelines to protect the annuity rates for pension from falling further. Reacting to LIC's recent decision to further reduce the annuity ... More

Pravasi Insurance Cell in Kerala
THIRUVANANTHAPURAM: The National Insurance Company has set up what it says is Kerala's first "Pravasi Insurance Cell" from where policy documents would be issued for emigrants going abroad for employment. The compulsory insurance scheme ... More

PUBLIC SECTOR BANKS

SBM in talks to handle stamp duty transactions
STATE Bank of Mysore is in talks with the Karnataka Government to take over the entire non-judicial stamp duty transactions that are currently being handled out of sub-registrar offices across the State. ``We have held talks with the ... More

Koneru Humpy brand ambassador for BoB educational loans
BANK of Baroda has named Ms Koneru Humpy, the youngest woman chess grandmaster in India, as a brand ambassador for its education loan. "Koneru Humpy is a symbol of Bank of Baroda's commitment to promoting young talent, hence we have ... More

Vijaya Bank launches artisan credit schemes
VIJAYA Bank has launched the Artisan credit card scheme and Swarojgar credit card scheme to provide easy credit to artisans and self-employed persons. The Artisan credit card scheme offers credit up to Rs 2 lakh to suit their requirements. ... More

FINANCIAL INSTITUTIONS

IDBI: Gearing up to be stand-alone bank
WITH the passing of the Industrial Development Bank of India (Transfer of Undertaking and Repeal) Bill, 2002, by Parliament, work seems to have started to turn IDBI into a stand-alone bank, as a first step. Some 150 managers from the ... More

INTEREST RATES

BoB, Canara Bank cut PLR by 25 basis points
BANK of Baroda and Canara Bank have fixed their `Benchmark PLRs' (BPLR) at 10.50 per cent and 10.75 per cent respectively, 25 basis points lower than their original PLRs. The announcement comes a fortnight after Union Bank of India announced ... More

MERGERS & ACQUISITIONS

IndusInd-ALF merger at 9:4 swap cleared
THE board of directors of Ashok Leyland Finance on Friday approved the share exchange ratio recommended for the merger of the company with IndusInd Bank. The joint valuers have recommended a ratio of nine equity shares of IndusInd Bank for ... More

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