MONEY & BANKING
FOREX
Rupee steady; g-secs rally
MUMBAI: The domestic currency ended at 45.86 against the dollar on Thursday, almost unchanged from Tuesday's closing levels. Financial markets remained closed in Mumbai on Wednesday due to State elections. After opening at 45.87/88, the ...
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Forex reserves could be used for infrastructure financing: Montek
THE Planning Commission is considering the use of the country's foreign exchange reserves for financing infrastructure development, said the Deputy Chairman of the Commission, Dr Montek Singh Ahluwalia, here on Thursday. India's foreign ...
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FINANCIAL PERFORMANCE
UTI Bank Q2 net down 28 pc
UTI Bank Ltd's net profit for the second quarter of the current fiscal showed a decline of 28 per cent at Rs 46.22 crore as compared with Rs 64.18 crore for the corresponding period in the previous year. This dip in the net profit could be ...
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SOFTWARE
Datacraft to network SBI overseas offices
DATACRAFT India has won a $1-million contract to design, build, and manage a connectivity network for all of State Bank of India's (SBI) 57 overseas offices across 20 countries. This network will run online centralised banking applications, and ...
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HOUSING FINANCE
LICHF does brisk business in Pune
REPLACING the existing system with the hub-and-spoke model seems to have fetched dividends for LIC Housing Finance Ltd, with business picking up in the Pune region. The Pune region, which shifted to the new methodology since August this ...
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CONSUMER FINANCE
Magma car loans in Vizag
VISAKHAPATNAM: MAGMA Leasing Ltd, the Kolkata-based company, launched its car finance scheme, Magma Carisma, here on Thursday, enabling car buyers to get loans at the rate of 2.99 per cent through the festival season. Mr Anindya Dhar, ...
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LIFE INSURANCE
Gaurang Shah is Kotak Life MD
THE Chief Operating Officer of Kotak Mahindra Old Mutual Life Insurance Company Ltd (Kotak Life), Mr Gaurang Shah, is taking over as the company's Managing Director. The board of directors of Kotak Life on Thursday approved Mr Shah's ...
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PUBLIC SECTOR BANKS
Andhra Bank ties up with NGO to help women entrepreneurs
THE ACGA (ALEAP Credit Guarantee Association) joined hands with Andhra Bank and Credit Guarantee Fund Trust for Small Industries (CGTSI) to launch Mutual Credit Guarantee Fund Scheme here on Thursday. The CGTSI has entered into a risk-sharing ...
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SBI Nigerian arm needs more capital infusion
STATE Bank of India will either have to inject additional capital or rope in a joint venture partner for its subsidiary in Nigeria. This follows the fresh guidelines issued by the Central Bank of Nigeria hiking the requisite capitalisation ...
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NON-PERFORMING ASSETS
Deutsche Bank, StanChart to join UTI's asset revamp co
The company received RBI's licence on October 11 to operate as an ARC. It is already in talks with lenders to acquire stressed assets from them.
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APSFC to organise OTS campaign
THE Andhra Pradesh State Financial Corporation (APSFC) is organising a special campaign of one-time settlement (OTS) for `sticky' accounts for a negotiated solution on the spot, beginning with a three-day schedule in Hyderabad from October ...
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Cross Currency Rates
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