MONEY & BANKING
FARM CREDIT
Banks urged to lend more to farm sector
WHY are banks hesitant to increase credit to the agriculture sector and the small and medium enterprises (SMEs)? When the Reserve Bank of India (RBI) posed this question to commercial banks, the response was the non-performing assets (NPAs) ...
More
FOREX
Rupee stronger; bonds decline
MUMBAI: The rupee closed stronger at 45.27 per dollar on Thursday, as against Wednesday's closing at 45.2875/2975. Dealers said the domestic currency strengthened due to good dollar inflows. "Inflows continue and there is still no sign ...
More
INSURANCE
F-Ins platform for insurance firms
FAST Forward Technologies (FFT), a Singapore-based software solutions provider for financial and insurance sector with a development cum support centre in Hyderabad, has announced the development of a framework termed F-Ins that enables insurance ...
More
LIFE INSURANCE
New IRDA norms for life products
AIMED at ensuring better services to the insuring public in the backdrop of rapidly changing Indian insurance market space, the Insurance Regulatory and Development Authority (IRDA) has come out with new guidelines pertaining to the design of ...
More
ICICI Pru Life's income tops Rs 1,000 cr
ICICI Prudential Life Insurance Company's premium income has topped Rs 1,000 crore for the first nine-month period of the current financial year. ICICI Prudential is the first private sector life insurer to achieve this number. Briefing ...
More
HUMAN RESOURCES
Sabbatical: Sydicate Bank sees Rs 50-cr gain
SYNDICATE Bank expects to save up to Rs 50 crore in a year under establishment costs with its special leave (sabbatical) scheme. Addressing presspersons here on Thursday, the bank's Executive Director, Mr K.M. Shet, said that the special leave ...
More
RBI & OTHER CENTRAL BANKS
RBI panel to examine paring agri credit rates
THE advisory committee on flow of credit to agriculture and related activities set up by the Reserve Bank of India will look into measures to reduce the rate of interest on agriculture credit given by commercial, co-operative and regional rural ...
More
PRIVATE BANKS
IndusInd Bank sees 30% growth in net profit
INDUSIND Bank expects 30-35 per cent higher net profit for the current financial year even as the it aims to wipe out "historic" bad loans from its books, its Managing Director, Mr Bhaskar Ghose, has said. The bank reported Rs 71.35 crore ...
More
PUBLIC SECTOR BANKS
BoI trims farm loan rates
BANK of India has reduced the interest rates on all its agricultural advances, for amounts up to Rs 50,000, by 50 basis points, to 8.50 per cent per annum with immediate effect. The move is in keeping with the Finance Minister's expectation ...
More
FINANCIAL INSTITUTIONS
SIDBI in talks with World Bank for $200-m loan
THE Small Industries Development Bank of India (SIDBI) is in talks with the World Bank for a $200-million (about Rs 900-crore) soft loan. The loan will augment the bank's lendable resources and, being a soft loan, also lower the cost of ...
More
SIDBI asks Centre to `redefine' SMEs
THE Small Industries Development Bank of India has recommended to the Government a definition of `medium enterprise' and a revised definition of `small enterprise', the SIDBI Chairman and Managing Director, Mr V.K. Chopra, told Business ...
More
NON-PERFORMING ASSETS
Indian Bank posts jump in recoveries
INDIAN Bank has recovered Rs 221 crore in the nine months ended December 2003, against Rs 164 crore in the corresponding period of last year. Recoveries up to January have increased to Rs 250 crore, the bank said in a press conference here on ...
More
PEOPLE
New Executive Director for BoI
MR M. Balachandran, has taken over as the Executive Director of Bank of India with immediate effect. Prior to this assignment, Mr Balachandran was General Manager, Bank of Baroda. The post of Executive Director, BOI, had been lying vacant ...
More
Damodaran to continue as IDBI chief till May 31
MR M. Damodaran will continue to be the Chairman and Managing Director of IDBI till May 31, 2004. IDBI today informed the BSE that the Finance Ministry has decided to entrust the charge of IDBI CMD to Mr Damodaran till May 31. Mr Damodaran, ...
More
Khandelwal is Dena Bank CMD
DR Anil K. Khandelwal has taken over as the Chairman and Managing Director of Dena Bank Ltd, effective February 5, 2004. Prior to this assignment, Dr Khandelwal was Executive Director, Bank of Baroda. He is also a member of different ...
More
TRENDS
CD ratio remains low in Kerala, says Review
THE credit-deposit ratio of commercial banks in Kerala has remained low despite a marked increase in deposit mobilisation. While the deposits in the State increased at an average annual rate of 18 per cent during the period between 1993 and ...
More
Cross Currency Rates
Comments & Letters to the Editor to: bleditor@thehindu.co.in
Subscribe to: Business Line
|
RSS Feeds