MONEY & BANKING
INVESTMENT BANKING
SBI Caps working out mega power deals
SBI Capital Markets, which expects to play a strategic role in the country's energy sector reforms, is structuring a couple of mega deals, each involving Rs 1,500 crore, in Karnataka and Chhattisgarh, two States that are striving hard to ...
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FINANCIAL SERVICES
The once-in never-out business of lockers
"READY?" The lawyer, two witnesses and company officials nod their head in unison. "Clang, blam," goes the hammer on to the jumper rod, as a mechanic from Godrej breaks open the locker. The lock clicks open. As one official ...
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REGIONAL RURAL BANKS
Regional rural banks need a shot in the arm
THE latest policy pronouncements of the Government have been largely agriculture and rural centric. The constitution of a Farmers Commission is one among them. Rural credit is emerging as a focal issue and this can be ...
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FOREX
Rupee steady; gilts listless
MUMBAI: The domestic currency closed steady at 45.25 on Thursday in a lacklustre forex market, almost unchanged from Wednesday's closing levels at 45.2450. Dealers said, after opening the day at 45.25 the rupee firmed up to 45.23 amid a ...
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SOFTWARE
i-flex readies Flexcube for LatAm markets
I-FLEX Solutions Ltd, with its flagship product, Flexcube, is all set to make its mark in the Latin American countries. Talking to presspersons, Mr Deepak Ghaisas, Chief Executive Officer, India Operations and Chief Financial Officer, said ...
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MANPOWER
With merger uncertainties continuing — IFCI VRS evokes poor response
YOU have heard of desertion from a sinking ship. But here is a case of passengers on a seemingly sinking carrier desperately clinging on to it despite being offered a safe exit. In what may come as surprise to many, the ongoing voluntary ...
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AGRICULTURAL INSTITUTIONS
Nabard refinance at lower rates likely
THE National Bank for Agriculture and Rural Development (Nabard) is likely to reduce the rate of re-finance for cooperative banks. The Chairperson of Nabard, Ms Ranjana Kumar, who was here on Thursday to address the students of K.S. Hegde ...
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HOUSING FINANCE
SCB Home Saver gets good response
FOREIGN DIRECT INVESTMENT
Between devil and deep sea
AS of March 6, 2004, the combined shareholding of Government-controlled shareholders in ICICI Bank Ltd is 15.03 per cent (LIC: 7.85 per cent; GIC and government-owned general insurance companies: 6.59 per cent; other government-controlled ...
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PRIVATE BANKS
Section of TMB shareholders to challenge recent election
SHAREHOLDERS of Tamilnad Mercantile Bank who claim to hold a substantial equity in the bank are to challenge the recent election of 10 members to the bank's board. The counsel representing the shareholders submitted to the Company Law Board ...
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PUBLIC SECTOR BANKS
BoI to focus on treasury, derivatives
BANK of India is looking at getting into opportunities such as treasury operations and derivatives trading. "This is going to be one of our key focus area for growth," Mr M. Balachandran, Executive Director of the bank, said. In an interview ...
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INTEREST RATES
Q3 bank lending rates in 6-16 pc range
THE highest rate of interest charged by a public sector bank on advances for the quarter ended December 2003 was 16 per cent, and the lowest was six per cent, according to the figures released by the Reserve Bank of India (RBI). This pertains to ...
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CORPORATE BONDS
BOB tier II issue fully subscribed
BHARAT Overseas Bank's (BOB) tier II bond issue for Rs 40 crore, have been fully subscribed including the greenshoe option of Rs 20 crore, said Mr G. Krishna Murthy, Chairman and CEO of the bank. The issue was in two tranches for 87 months & ...
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CREDIT MARKET
IBA to meet Ministry over sick SSI units
THE banking sector is eyeing small-scale industries, a sector that has largely remained in the background. The Indian Banks' Association, along with the small-scale industry, is meeting officials of the Finance Ministry in a bid to revive sick ...
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MERGERS & ACQUISITIONS
ING to surrender banking licence — Set to merge into Vysya venture
DUTCH banking and insurance major, ING Bank N.V. will cease to exist as a separate entity. The foreign bank is in the process of being merged with the Bangalore-based, ING Vysya Bank. The final paper work is on and the foreign bank is soon to ...
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REGULATORY BODIES & RULINGS
Training norms waived for qualified financial planners
THE Insurance Regulatory and Development Authority has exempted qualified chartered financial planners from the mandatory 100 hours of training required, according to Mr Ranjeet Mudholkar, Chief Executive Officer, Association of Financial ...
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PEOPLE
New Rabo India chief
Cross Currency Rates
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