MONEY & BANKING
FINANCIAL SERVICES
BNP Paribas plans entity for portfolio management services
The bank plans to grow its private banking business by 25-30 per cent in a year to touch 500 relationships in 15 months. A relationship consists of a number of individuals in a household with investible surplus of over Rs 1 crore.
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FOREX
Rupee down 12 paise, gilts firmer
MUMBAI: The domestic currency closed at 45.95/97 on Monday, weaker by 12 paise than the previous close on Friday. In the last trading session rupee had closed at 45.83/84. From the opening levels of 45.83/85,the rupee fell during the ...
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GENERAL INSURANCE
Corporates prefer plain cover for terror risks
HERE is a reason for equity investors to be concerned. Corporate India is not fully covered against terrorism related risks. In fact, most corporates obsessed with bottomlines preferred plain vanilla covers. Only public sector companies have ...
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CREDIT RATING
HDFC bond plan gets AAA rating
THE Housing Development Finance Corporation Ltd's (HDFC) Rs 500-crore subordinated bond programme has been granted `AAA/Stable' ratings by Crisil. The ratings reflect HDFC's strong market position in the housing finance business, its ...
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PRIVATE BANKS
Mobile refill facility from Centurion Bank
MUMBAI: Centurion Bank has introduced mobile refill facility for prepaid mobile customers of Orange, Hutch, AirTel and Idea Cellular. The facility will be available at no extra cost and allows the bank's customers to recharge their ...
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PUBLIC SECTOR BANKS
Indian Bank channels credit direct to farmers
INDIAN Bank has begun entering into formal arrangements with corporates and self help groups (SHGs) to bypass the rural economy's middlemen and thereby lower the cost of a farmer's access to agricultural inputs and consumer goods. The bank has ...
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PNB begins identifying needy farmers
PUNJAB National Bank has started implementing the recentl policy initiatives on credit flow to agriculture by bringing in at least 100 new peasants under its lending operations for each of its rural operations. The Chairman, Mr S.S. Kohli said, ...
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Indian Bank to share ATMs with Andhra Bank
INDIAN Bank and Andhra Bank signed an agreement on Monday to share their automated teller machine (ATM) facilities following which their customers jointly gain access to 390 of them across the country. At a press conference , the Indian Bank's ...
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NON-PERFORMING ASSETS
DRT sitting recovers Rs 4.26 cr in TN
AT its third special sitting, the Debts Recovery Tribunal (DRT), Coimbatore, recorded recovery to the tune of Rs 4.26 crore. This time, the special sitting was organised exclusively for recovering money due to the Scheduled Banks under its ...
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CO-OPERATIVES
Kerala state co-op bank to disburse Rs 350 cr
THE Kerala State Co-operative Agricultural and Rural Development Bank Ltd. (KSCARDB) will disburse loans to the tune of Rs 350 crore in the current financial year. Of this, Rs 205 crore will be made available for agricultural and industrial ...
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Cross Currency Rates
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