The Hindu Business Line : Saturday, March 27, 2004

INSIGHT
Should India pursue capital account convertibility?
FULL capital account convertibility is again being actively discussed with the accretion of large foreign exchange reserves. There is no specific definition of capital account convertibility (CAC). But the Tarapore Committee (1997) defines CAC as ... More

FOREX
Rupee gains 27 paise, hits 46-month high — Stable compared to other currencies: Reddy
SENDING market participants into a tizzy, the rupee gained 27 paise in the last three hours of trading on Friday to close at a 46-month high of 44.46/48 in its value against the dollar. This takes the rupee's gain over the last seven ... More

INFORMATION TECHNOLOGY
Inter-bank settlement system goes real time
THE Reserve Bank of India on Friday initiated live operations on the real time gross settlement (RTGS) system in a limited manner among four banks. These four banks have been conducting trials runs with mock transactions on the online clearing ... More

SBI opens dozen ATMs in Kerala
THIRUVANANTHAPURAM: State Bank of India on Friday celebrated the opening of its 100th ATM in the State by simultaneously commissioning 12 ATMS in various centres. The Chief General Manager, Mr C. Narasimhan, inaugurated the 100th ATM at ... More

NBFCS
Shriram Investments earmarks Rs 2,400 cr for truck finance
SHRIRAM Investments, a Chennai-based Shriram group company, is planning to disburse Rs 2,400 crore through its 200 branches for purchase of new and used trucks during this calendar year, of which Rs 500 crore will be lent in Andhra Pradesh. Mr ... More

FOREIGN DIRECT INVESTMENT
IndusInd among FDI proposals okayed
THE Government today cleared IndusInd International Holdings Ltd's proposal to invest Rs 16.90 crore in the company's Indian operations to acquire shares of IndusInd Bank from the secondary market.A total of 34 FDI proposals worth Rs 30.98 crore ... More

PRIVATE BANKS
Bharat Overseas to hone marketing skills of staff
INVOLVING employees in product marketing will be high on the agenda in Bharat Overseas Bank this year as the bank intends to give greater push to retail and small trade financing in 2004-05. "Marketing will have active role in our staff ... More

PUBLIC SECTOR BANKS
Allahabad Bank forms panel for customer care
ALLAHABAD Bank has constituted a high-power committee comprising general managers of the bank to audit customer service. This follows the Reserve Bank of India's directive to all banks to undertake audit on performance and procedures of ... More

Dena Bank bonds for Rs 150 crore
MUMBAI: Dena Bank has announced a private placement of unsecured, subordinated debt by way of Tier II bonds of Rs 150 crore, inclusive of a greenshoe option of Rs 50 crore, according to a press release. The bonds, rated A by CARE, have a ... More

Canara Bank opens women's branch at Pattom
THIRUVANANTHAPURAM: Canara Bank opened its first Mahila Banking Branch at Pattom, the third in the country, here on Friday. Princess Aswathi Thirunal Gouri Lakshmi Bayi, who inaugurated the branch, said the branch would be of great help ... More

Corpn Bank opens Kavoor branch
MANGALORE: Corporation Bank opened its 712th branch at Kavoor in Dakshina Kannada district on Friday. Mr Cherian Varghese, Chairman and Managing Director of the bank, who inaugurated the branch, said that Kavoor branch has introduced ... More

SBH donates Traffic umbrellas

GOVT BONDS
Bonds up; call rates rule soft
G-SEC prices gained by 5-35 paise o Friday with positive factors putting the markets on a bullish note. The lower borrowing by the Central Government and the cut in the reverse repo rate have been positive factors, said a dealer from a bond ... More

VMC bonds listed on the NSE
VISAKHAPATNAM: The National Stock Exchange on Thursday listed the bonds issued by the Visakhapatnam Municipal Corporation for Rs 70 crore to finance the Godavari water project, according to a release issued by the corporation. Of the ... More

ALLIANCES & JOINT VENTURES
Andhra Bank, ICICI Bank to share ATMs
ICICI Bank and Andhra Bank have announced a tie-up, that enables sharing of their ATM networks. While ICICI Bank has about 1,780 ATMs, Andhra Bank has established a chain of 266 ATMs. The benefits to the cardholders of the banks include access ... More

PUBLIC OFFER
Rs 255-295 band for ICICI Bank public offer
ICICI Bank has fixed a price band of Rs 255 to Rs 295 per equity share for its over Rs 3,050-crore public issue, which is to open on April 2. The share price of the bank today closed 5.28 per cent higher at Rs 283.90 on BSE and 5.60 per cent ... More