MONEY & BANKING
FOREX
Bond prices crash; rupee unchanged
MUMBAI: Bond prices crashed by a rupee across maturities consequent to the Reserve Bank of India fixing higher than expected yield in its auction on Wednesday. A yield of 5.53 per cent was fixed on the 6.18 per cent 2005 paper auctioned ...
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INFORMATION TECHNOLOGY
RTGS: Low-value deals may carry higher fees
RETAIL customers may have to shell out a larger proportion of the transaction value in terms of service charges when it comes to real-time transfer of funds through banks across cities. Banks may levy higher transaction charges on low-value ...
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STOCKS
GTB - still some buyers!
THE announcement of de-listing of Global Trust Bank (GTB) had a negative impact on the scrip with its stock price locked in the lower circuit. However, even at this level there were buyers for the stock. In today's trading, the stock was ...
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LIFE INSURANCE
MetLife opens another unit in Thrissur
KOCHI: MetLife India Insurance Company Pvt Ltd has opened its third office in Kerala at Thrissur on Tuesday. Mr T. R. Madhavan, MD and CEO, Dhanalakhmi Bank Ltd, inaugurated the new office with Mr Venkatesh Mysore, MD, MetLife. ...
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GENERAL INSURANCE
UI upbeat on micro-offices
UNITED India Insurance plans to double the strength of its one-man-offices (micro-offices) this financial year, as it is upbeat about the returns they can generate. It had opened 200 micro-offices by the end of March 2004. Mr V. Jagannathan, ...
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DEBT MARKET
FCI bond market foray on hold
THE public sector Food Corporation of India (FCI) has put on hold its foray into the bond markets and has instead preferred to continue with the food credit window of the lending consortium led by the State Bank of India (SBI). The Government ...
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PRIVATE BANKS
Centurion Bank plans 2-3 branches a month
CENTURION Bank is planning expansion by way of adding new branches in new locations. Speaking to presspersons here Mr Anil Jaggia, Chief Operating Officer (COO), Centurion Bank, said the bank will convert 14 marketing outlets to branches and ...
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PUBLIC SECTOR BANKS
IOB gold card for exporters
IOB has introduced the IOB Expo Gold Card that entitles the holder access to faster sanction of credit on liberal terms including interest concession. The card is aimed at simplifying access to credit by exporters, particularly small and medium ...
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Andhra Bank commits Rs 10 cr to ASERC
ANDHRA Bank has decided to make an additional subscription of Rs 10 crore to the equity share capital of the Asset Reconstruction Company (ASERC) India Ltd, floated by the Specified Undertaking of Unit Trust of India. This contribution is over ...
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SBT cuts interest rates for Onam
THIRUVANANTHAPURAM: State Bank of Travancore (SBT) has reduced interest rates on home and vehicle loans during the "Onam" festival season. The lower rates will be applicable to loans sanctioned between August 1 and 31, according to a ...
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Vijaya Bank programme
MANGALORE: In connection with the special campaign to mobilise low-cost deposits, issue credit cards, and disburse retail loans, Vijaya Bank organised a programme at the district court premises in Mangalore on Wednesday. The Assistant ...
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GOVT BONDS
AP Govt to float NRI bonds
THE Andhra Pradesh Government will float bonds to raise Rs 2,500 crore to Rs 5,000 crore from Non-Resident Indians (NRIs) in the United States. Modalities are being worked out by the Government to launch the bonds, Mr C.C. Reddy, Advisor to ...
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Cut-off price for Rs 2,000-crore T-bill at Rs 94.89
THE cut-off price for the Rs 2,000-crore 364-day treasury bill auction was fixed at Rs 94.89, while the cut-off yield on paper came higher than expectations at 5 per cent, said dealers. The number of competitive bids received was 63 (worth Rs ...
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NON-PERFORMING ASSETS
Sticky loan swapping under lens
WITH the Reserve Bank of India getting wise to ever-greening of non-performing accounts by banks, some of the banks have switched to swapping sticky accounts. An official confirmation is available with the Government admitting in the Rajya Sabha ...
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CO-OPERATIVES
`Inefficiency of co-ops hits farmers the hardest'
Mr V. Ramani, Secretary, Co-operation Department: "Higher the overheads of the co-operative institution, the lower the efficiency in loan delivery" at an affordable and realistic rate of interest.
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South Indian Co-op board superseded
THE Registrar of co-operatives has superseded the board of the beleaguered The South Indian Co-operative bank on the recommendation of the Reserve Bank of India. According to sources, the deputy registrar, Mr Mahindra Kalyankar, has been ...
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Cross Currency Rates
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