Financial Daily from THE HINDU group of publications
Thursday, March 03, 2005
Financial Daily from THE HINDU group of publications Thursday, March 03, 2005 |
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MONEY & BANKING INSIGHT The story behind runaway credit Till October 2004, there was a large extension of credit for the housing and retail sectors. Now, it appears that credit to both industry and agriculture too has gone up sharply partly due to the express wishes of the Government and the RBI. The saga of the runaway credit has implications for monetary policy-making, says A. Vasudevan, who explains the phenomenon. More FOREX Rupee ends flat; bonds steady MUMBAI: The rupee closed at 43.70/71.5, against the US dollar on Wednesday, slightly higher than previous day's close of 43.73. Dealers said the market was very quiet as there was no proper direction. A dealer at a broking firm said ... More CONSULTING 
Watson Wyatt to expand range of servicesWATSON Wyatt Worldwide, a global consulting firm specialising in insurance and financial services, has announced an expansion of its range of services to India. The company says it will handhold banks and insurance companies in India and ... More HOUSING FINANCE Canfin Homes launches new loan products CANFIN Homes Limited, the housing finance subsidiary of the public sector Canara Bank, has launched three new loan products in a bid to diversify its income stream. Speaking to reporters here on Tuesday, Canfin Homes Managing Director, Mr K. ... More GENERAL INSURANCE Magma Leasing unveils insurance cover with NIC MAGMA Leasing Ltd (MLL), a leading retail asset finance company, has unveiled NICMAGMA, an insurance cover, in alliance with the National Insurance Company (NIC) for the Andhra Pradesh market. Addressing newspersons here on Wednesday, the MLL ... More PRIVATE BANKS HDFC Bank opens first ATM in hotel This is the first time an ATM is being set up in a residential hotel, according to a press release from HDFC Bank. This facility will enable hotel guests to carry out their transactions, without leaving the hotel premises. As HDFC Bank has ... More
PUBLIC SECTOR BANKS Canara Bank to expand commodities exposure CANARA Bank, in a major initiative to increase exposure to the growing commodity sector, has entered into a memorandum of understanding (MoU) with National Collateral Management Services Ltd (NCMSL), a Mumbai-based company offering risk ... More
SBI branch at Vadakara NON-PERFORMING ASSETS TN: Stamp duty cut on transfer of NPAs THE Tamil Nadu Government has reduced the stamp duty and registration fee on the transfer of non-performing assets (NPAs) of banks to asset reconstruction companies under a legislation enacted by the Centre. Presenting the 2005-06 budget on ... More CREDIT MARKET Canara Bank lends Rs 45 cr to SHGs in Bangalore rural CANARA Bank has extended credit to 500 self-help groups (SHGs) amounting to Rs 45 crore in the Bangalore rural district. As part of the credit support for rural development, the bank has funded the purchase of tractors by farmers. It has also ... More FIXED DEPOSITS 
State Bank of Hyderabad increases NRE deposit ratesSTATE Bank of Hyderabad (SBH) has announced an upward revision in interest rates offered on NRE and FCNR term deposits. In a press release here on Wednesday, the bank said the new rates were effective from March ... More
RIGHTS ISSUE Lord Krishna Bank rights issue fully subscribed THE rights issue of Lord Krishna Bank, which opened for subscription on January 27 and closed on February 28, has been over-subscribed, a press release from the bank has said. The issue was to aggregate Rs 45.30 crore to the bank's capital base. ... More Comments & Letters to the Editor to: bleditor@thehindu.co.in Subscribe to: Business Line |
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Looking back Feb. 20-Feb. 26 Bonds firm on liquidity, inflows to bank deposits MDRT membership: Many qualify, but few register Banks earning more from non-banking activities? `Autonomy move pleasant surprise' Eligibility limit for special discount raised to Rs 15 cr — IRDA revises norms on broking commissions Banks can meet Basel II capital adequacy norms, says Crisil |
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