The Hindu Business Line : Wednesday, April 20, 2005

For the future, look East
As far as China and India are concerned, it is high time they sat together as a countervailing force to the US and other G-7 countries. More

FOREX

Rupee range-bound; bonds lacklustre
MUMBAI: All attention at the bond market on Tuesday was on the auction of the 2017 and 2034 bond papers, both of which were oversubscribed. Dealers said the cut-off rates were in line with market expectations. The 8.07-per cent ... More

SOFTWARE

Greek bank signs up for Finacle
BANGALORE: Infosys Technologies has announced that Aspis Bank in Greece has signed up for Finacle universal banking solution to power its core banking and treasury operations across 66 branches. Aspis Bank is embarking on a business ... More

Taiwan bank, i-flex in pact
BANGALORE: Ta Chong Bank, Taiwan, and i-flex solutions signed an agreement on Tuesday to implement i-flex's Flexcube and Reveleus software product suites at Ta Chong Bank. Flexcube will serve as Ta Chong Bank's single back-office ... More

NBFCS

RBF to pay another 5 pc to depositors
THE board of directors of RBF Nidhi Ltd has decided to pay another instalment of 5 per cent to depositors. This will involve a payout of Rs 22.06 crore, to 1,41,996 deposit accounts. According to a press release from RBF Nidhi, the payment ... More

CREDIT RATING

ICRA's overseas affiliates bag mandate from local clients
CREDIT Rating Agency of Bangladesh (CRAB) and Bulgarian Credit Rating Agency (BCRA), both of which have recently became affiliates of ICRA, have started securing mandates from clients in their markets. The Dhaka-based CRAB, which recently ... More

INTEREST RATES

Karur Vysya Bank hikes FCNR rates
COIMBATORE: Karur Vysya Bank has hiked FCNR dollar rates from the beginning of this month.

GOVT BONDS

Govt stock sale oversubscribed
THE auctions of the 8.07 per cent Government Stock 2017 and the 7.5 per cent Government Stock 2034 were oversubscribed on Tuesday. According to a dealer with a private bank, the results were as expected and did not impact the bond market much. ... More

CREDIT MARKET

Union Bank advances to SSIs up 20 pc
UNION Bank of India's advances to small-scale industries grew by 20 per cent during the financial year 2004-05, to touch Rs 3,765.77 crore. The bank covered 2,247 small-scale industry units under the Credit Guarantee Fund for Small Industries, ... More

PUBLIC OFFER

Syndicate Bank files draft for second public issue
SYNDICATE Bank has filed a draft red herring prospectus on Tuesday with the Securities & Exchanges Board of India to enter the capital market with its second public issue of equity shares. The bank proposes to issue 50 million equity shares of . More

Overseas interest in Oriental Bank capital issue, says Narang
A CLUTCH of overseas institutions, some of them based in Singapore, have evinced keen interest in investing in the capital issue of Oriental Bank of Commerce. The offer, which will constitute about 23 per cent of the fully diluted post issue ... More

ECONOMIC OFFENCES

Banks, FIs see need to beef up anti-money laundering system
FINANCIAL institutions (FIs) and banks are under increasing supervision of overseas regulators owing to the rising cases of financial crimes. FIs now consider it essential to implement anti-money laundering (AML) schemes and comply with ... More

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