Financial Daily from THE HINDU group of publications
Tuesday, June 15, 2004

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RBI moots intense supervision of financial conglomerates
THE Reserve Bank of India has proposed to illuminate the complex but largely opaque workings, especially inter-group transactions, of some of the country's largest financial conglomerates. An inter-regulatory working group of the RBI, SEBI and ... More

BOI Shareholding launches franking service
Mr M. Venugopalan, Chairman, BOI Shareholding Ltd and Chairman & Managing Director, Bank of India, inaugurating the `Franking Service' in Mumbai on Monday. BoI Shareholding, the clearing house of BSE, is one of the first to receive the licence .. More

Rupee sheds 20 paise; gilts down
MUMBAI: The rupee closed at 45.35/36 against the dollar on Monday, about 20 paise weaker than Friday's close of 45.1550/1650. Dealers said that the cash market moved in one way. The decline in rupee could be attributed to the dollar ... More

HSBC (India) net up 32 pc on higher income, cost cuts
HIGHER operating income and the bank's ability to contain costs have helped The Hong Kong and Shanghai Banking Corporation (HSBC) in India report a 32 per cent rise in net profit for the year-ended March 31, 2004. Net profit increased to Rs ... More

SBT housing loan scheme for KSEB staff
STATE Bank of Travancore has launched a housing loan scheme for employees of the Kerala State Electricity Board (KSEB). All permanent employees of KSEB who have put in a minimum of two years of service are eligible for the loan, according to a ... More

Aviva crosses one lakh policy mark
AVIVA Life Insurance has crossed the one-lakh policies mark within the first two years of operation. The total number of lives covered, including group policies, is over 1,88,000. The company now aims at garnering a premium income of Rs 200 ... More

ICICI Lombard weather cover for orange growers
ICICI Lombard General Insurance, in association with the Government of Rajasthan, has announced the launch of a comprehensive weather insurance scheme for the farmers growing oranges, to compensate them for losses due to deficit rainfall. ICICI ... More

No dividend curb for banks with capitalised software costs
THE Central Government has made it clear that an existing restriction on payment of dividend under the Banking Regulation Act would not be applicable to a banking company that has capitalised expenses relating to computer software (not ... More

IBA calls unions for talks on July 2
MUMBAI: The Indian Banks' Association has called the various bank unions for a discussion on wage revision on July 2. This comes after pre-budget discussions between the Central Trade Unions and the Finance Minister, wherein the ... More

Syndicate Bank gets ready for second public issue
THE Chairman and Managing Director of Syndicate Bank, Mr Michael Bastian, has said that the board and the annual general meeting of shareholders of the bank have approved the decision to go in for the second public issue. He was addressing ... More

Top-level inductions at Yes Bank
YES Bank, a new greenfield and professionally promoted, entrepreneurial venture in the Indian banking industry, has expanded its senior management team by appointing two senior banking professionals — Mr B. Chandramouli as Chief Operating ... More

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Top Stories
ICICI Lombard weather cover for orange growers

Strategies to meet oil demand

Kurien renews crusade against NDDB joint ventures

New challenges ahead in bumper cotton season

Toyota to invest Rs 600 cr in new car project

No dividend curb for banks with capitalised software costs

Cashew axed from FDA list of `health' nuts

Looking back
Jun. 6-Jun. 12
Wage issue: Bank officers' union threatens strike

Forex reserves up $1.248 b

Bond markets yet to catch FM tune

Interest rates set to harden

Market overpricing Fed tightening?

IRDA cautions insurers on bonus practices

Climate changes could impact business practices

Bringing key-man insurance back to life

RBI mulls allowing investments in overseas index funds

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