The Hindu Business Line : Thursday, May 26, 2005

SBI to raise $600 m via MTNs to fund overseas expansion
STATE Bank of India plans to raise $600 million (Rs 2,607 crore) overseas through medium term notes to fund overseas expansion by June or July, the SBI Chairman, Mr A.K. Purwar, has said. The bank had targeted to raise $1 billion (Rs 4,345 ... More

HDFC Bank raises yen loan for $100 million
HDFC Bank announced that it raised $100 million, denominated in Japanese yen, through equivalent one-year loan facility. This loan was raised to finance the trade assets of the bank, said a press release. The deal was arranged by a group of ... More

FINANCIAL SERVICES

India second biggest market for Western Union
INDIA has emerged the second largest market for Western Union, the international money transfer service provider, next only to the United States. Western Union, which recently flagged off its 21,000th agent location in the country, is set to ... More

PENSION PLANS

Pension reforms urgent, says World Bank
AS policymakers in Asia, Europe and the US grapple with the long-term affordability of their pensions systems, a new World Bank report says that growing demographic and economic pressures are forcing both developing and developed countries to ... More

FOREX

Rupee declines; gilts shed gains
MUMBAI: The rupee depreciated further against the dollar on Wednesday on robust demand for the US currency from importers. The domestic currency opened at 43.5150/52, hit an intra-day low of 43.55 and finally closed at 43.53/54 down ... More

NBFCS

NBFC licence cancelled
THE Reserve Bank of India has cancelled the certificate of registration granted to Bhojwani Leasing and Finance Ltd for carrying on the business of a non-banking financial institution, as on April 29, 2005. Following the cancellation of the ... More

GENERAL INSURANCE

Cholamandalam MS unveils overseas travel product
CHOLAMANDALAM MS General Insurance has announced a new overseas travel insurance product, Chola Travel Insurance. The policy coverage includes adventure sports such as bungee jumping, parasailing, paragliding, deepsea walking, and ... More

SHORT TERM INSTRUMENTS

T-bills auctions fully subscribed
THE auctions of the 364-day and 91-day Treasury Bills on Wednesday were fully subscribed, according to a Reserve Bank of India press release. The notified amount for both T-bills was Rs 2,000 crore. For the 91-day T-bills, the RBI received 41 ... More

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Research body develops GM rubber — Variety tolerant to drought, environment stress

Pension reforms urgent, says World Bank

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