MONEY & BANKING
INSIGHT
In defence of the commercial banker
The banker has become inactive because of the sharp spurt in the the size of government borrowing in recent years, the relative growth of the services sector that traditionally has not been dependent on banks, and `information asymmetries' due to whi ch `adverse selection' of borrowers can happen, says A. Vasudevan, suggesting ways to overcome the adverse selection.
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FOREX
Rupee down 5 paise; gilts rise marginally
MUMBAI: The rupee lost over five paise to end on Wednesday at 45.2850/2900 in its value against the dollar. This is despite the bunched up dollar supply that came into the market following the holiday on Tuesday. The rupee was steady ...
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SOFTWARE
Flexcube tops in sales
BANGALORE: i-flex solutions announced on Wednesday that its flagship product Flexcube has been ranked the world's number one selling banking solution for 2003 by International Banking Systems (IBS), UK, in its annual sales league table for ...
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Finacle for Thai firms
BANGALORE: Infosys Technologies Ltd, Export-Import Bank of Thailand (EXIM Bank) and Yip In Tsoi & Co Ltd, Thailand, have announced that they have signed a strategic partnership to revamp the bank's core technology platform with Finacle, ...
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LIFE INSURANCE
LIC plans to launch two unit-linked schemes
LIFE Insurance Corporation of India proposes to launch two new unit-linked products in the first quarter of the fiscal 2004-05. The two new products will be linked to endowment and pension plans respectively, Mr R.K. Vashishtha, Managing ...
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GENERAL INSURANCE
ICICI Bank lures insurance VRS optees for deposits
ICICI Bank has begun chasing employees of the public sector insurance companies who have opted for the voluntary retirement scheme (VRS) to mop up bulk deposits. Banking sources said that ICICI Bank has targeted all the 8,500 employees. ...
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PUBLIC SECTOR BANKS
SBI signs pact with Siemens for equipment finance
STATE Bank of India has entered into a Memorandum of Understanding (MoU) with Siemens Ltd, for financing purchase of medical equipments being sold by the company. Doctors with clinics, nursing homes, corporate and medium size hospitals can ...
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SBI's 10th ATM in Mangalore
MANGALORE: The General Manager of Kudremukh Iron Ore Company Ltd, Mr M.B. Padiyar, inaugurated the 10th ATM of State Bank of India (SBI) at Kavoor Junction in Mangalore recently, according to a press release by the bank here on ...
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MERGERS & ACQUISITIONS
Govt rules out rethink on IFCI merger with Punjab National Bank — `Burden too heavy for IDBI'
With PNB and IFCI both headquartered in the Capital, the process of merger is expected to be smoother.
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RIGHTS ISSUE
Centurion Bank forms panel to study rights issue
CENTURION Bank has constituted a sub-committee to look into the procedural matters related to the slated rights issue of Rs 65 crore. However, no timetable has been set for the same. According to bank's notice to the NSE, following today's ...
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Cross Currency Rates
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