MONEY & BANKING
INSIGHT
Rural banking — Opportunity for diversification and growth
STATE Bank of India, the country's largest bank, recently announced that it would shift its focus to Rural India to boost the retail portfolio. According to its Chairman, there is business opportunity in rural India. ...
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FOREX
Exporters prefer dollar invoicing: Report
EVEN as exporters cry hoarse over the appreciation of the rupee againstthe dollar that is bound to blunt their competitiveness if left uncorrected for long, this phenomenon has not really changed the invoicing pattern of Indian exports during ...
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Rupee unchanged; g-secs decline
MUMBAI: The rupee closed almost unchanged from Friday's levels, ending at 43.89/90 per dollar on Monday in the forex market. After opening the day at 43.84, the rupee fell to a low of 43.92 due to significant dollar buying by state-run ...
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STOCKS
UTI Bank witnesses 2 block deals
UTI Bank witnessed two block deals, one each on the NSE and BSE, representing around 0.7 per cent of bank's stake. The deals were executed towards the end of the trading session on Monday. The total traded quantity in the counter on the BSE and ...
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SOFTWARE
i-flex solution for Korean co
BANGALORE: i-flex solutions announced on Monday that Woori Financial Group of South Korea has selected its Reveleus, a business intelligence and analytical application for the financial services industry, to establish an enterprise-wide ...
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MANPOWER
J&K Bank to be choosy about VRS acceptances
THE voluntary retirement scheme introduced by Jammu and Kashmir Bank Ltd is `not' voluntary in the real sense. Though the offer is open to all, the bank's Chairman, Mr M.Y. Khan, made it clear that the management would use its discretion in ...
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HOUSING FINANCE
Canara Bank cuts home loan rates
CANARA Bank has cut the interest rate on home loans by 0.25 percentage point across all maturities and on fixed and floating rate options. The new rates are effective April 1. Under floating rates the interest rate would be 7.25 per cent instead ...
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CONSUMER FINANCE
SBI sanctions 1,000 car loans
THIRUVANANTHAPURAM: The Personal Banking branch of State Bank of India at Kesavadasapuram here has created a national record of sorts by becoming the first branch to sanction 1,000 car loans over the last five years. The Chief General ...
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RBI & OTHER CENTRAL BANKS
RBI, banks to accept coins by weight
BANKS will no longer have the burden of counting coins in large numbers. The public can now tender coins at the counters of public and private sector banks as also at the RBI's counters. Banks as well as the Reserve Bank of India will accept ...
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PRIVATE BANKS
Treasurer's calendar
THE Aluva-based Federal Bank has released the Treasurer's calendar, possibly the first such venture by a bank in the country. The Treasurer's calendar chronicles the major economic events in the domestic as well as the international markets ...
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PUBLIC SECTOR BANKS
SBI to help customers shift to e-banking
STATE Bank of India has started to give top priority to technology products. "We are not against personalised approach. But we want our customers to use some of the facilities like Internet banking, ATM, e-rail booking etc offered by us. ...
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Union Bank retail lending up 20%
UNION Bank of India's retail lending has gone up by over 20 per cent for the fiscal year 2003-04 compared to the previous year. In a press release, the bank said that total lending under the retail segment crossed Rs 6,244 crore against Rs ...
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Corporation Bank board meet on April 24
CORPORATION Bank will hold its board meeting on April 24 to consider the audited financial results for the year ended March 31 and propose the final dividend for 2003-04. A bank release said that the meeting would also finalise the dates for ...
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Dena Bank revises NRE deposit rates
IN keeping with RBI's recent directive, Dena Bank Ltd has revised interest rates on its Non-Resident External Deposits. The interest rate for one, two and three year NRE deposits have been revised to 1.35 per cent, 1.90 per cent and 2.40 per ...
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GOVT BONDS
Kerala Govt bonds
THIRUVANANTHAPURAM: The State Government intends to raise Rs 274.94 crore in market borrowings for financing developmental expenditure, an official spokesman has said here. The bonds can be redeemed on April 23, 2014, and will carry a ...
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MERGERS & ACQUISITIONS
UTI Bank to pick up stakes in two Shriram group cos
UTI Bank and Shriram Chits & Investments (P) Ltd will pick up stakes in two companies of the Shriram group, Shriram Investments Ltd and Shriram Transport Finance Company Ltd. The bank will be allotted 25 lakh shares in each of the companies, at .
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TRADE & LABOUR UNIONS
Kerala bank officers drop strike plan
THE All-India Bank Officers Confederation has called off its proposed State-wide strike in Kerala on April 20 after an amicable settlement was reached between the Dhanalakshmi Bank Officers Organisation and the management. At the meeting ...
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Cross Currency Rates
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