The Hindu Business Line : Wednesday, January 05, 2005

Govt turns cash-rich!
Expenditure control is a two-edged sword — it may rein in the deficit but if it is at the cost of new investments, the solution will not stand the test of reason. More

LIFE INSURANCE

SBI Life to get Rs 75 cr more from promoters
STATE Bank of India and Cardif of France would immediately inject Rs 75-crore capital into their life insurance venture, SBI Life. If required, they may also bring in another Rs 100 crore before financial year 2004-05 ends, Mr S. Krishnamurthy, ... More

DEBT MARKET

Bond prices rally; yields likely to further soften
AT long last, bankers and debt market dealers have reason to smile. For them, the new year has kicked off on a positive note, with bond prices rallying by over one and a half rupees across maturities in the first four days alone. The 10-year ... More

PRIVATE BANKS

Officiating CEO, Federal Bank
Federal Bank has said Mr P.R. Shankaranarayanan has taken charge as its officiating Chief Executive Officer with effect from January 1. He has been working as the Executive Director of the bank since 1995, a press release here said. Mr ... More

PUBLIC SECTOR BANKS

SBI may raise equity next fiscal
STATE Bank of India may join the band of banks likely to raise equity capital in the next fiscal year, mainly to satisfy a new international banking framework that a host of central banks plan to introduce in 2006. "If it were not for credit ... More

SBI's Andaman branches `now functional'
THE SBI Chairman, Mr A.K. Purwar, said the bank's branches in Andaman and Nicobar were marginally affected by the tsunami that swamped the islands on December 26. SBI has 18 branches in the islands, three of which were destroyed. He said the ... More

SBI agri-financing to touch Rs 4,000 cr by March
STATE Bank of India (SBI), with a renewed thrust on agri-business funding in this fiscal, expects to touch an agri-financing figure of Rs 4,000 crore by March 2005. Talking to newspersons here on Tuesday after participating in an interactive ... More

Allahabad Bank to work out issue details
SHAREHOLDERS of Allahabad Bank have approved a proposal to increase the bank's capital through a public offer. The bank plans to issue fresh capital by way of book building. The size of the issue and other relevant details have not been ... More

Central Bank drive for deposits

GOVT BONDS

Rs 7,000 cr T-bills oversubscribed
MUMBAI: The Rs 7,000 crore worth auctions for the 9.39 per cent 2011 paper and the 7.50 per cent 2034 paper were oversubscribed in the domestic debt market on Tuesday. Their cut-off prices, at Rs 115.02 and Rs 104.80 respectively, were ... More

NON-PERFORMING ASSETS

OBC chief Narang sees faster NPA recovery
THE filing of the first set of criminal complaints by Oriental Bank of Commerce (OBC) against five borrowers of the Global Trust Bank (GTB) would help speed up the process of recovery of NPAs of the erstwhile bank, according to the OBC Chairman ... More

Sick seafood units seek PM's help to stop recovery by banks
AROUND 130 seafood units that are in financial trouble have sought the intervention of the Prime Minister, Dr Manmohan Singh, to stop the recovery proceedings initiated by banks and financial institutions against them. The seafood units have ... More

BUSINESS MODELS

New biz model for Allbank Finance
ALLAHABAD Bank will soon choose a business model for its newly-revived subsidiary, Allbank Finance. Presentations have been already made by consultants on the matter. The bank, Mr O.N. Singh, CMD, said, hoped to kick-start merchant banking ... More

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