Financial Daily from THE HINDU group of publications
Friday, June 10, 2005
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Financial Daily from THE HINDU group of publications Friday, June 10, 2005 |
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MONEY & BANKING FINANCIAL SERVICES Cheque truncation system soon THE Reserve Bank of India is introducing a cheque truncation system in the country to accelerate clearing operations. Inaugurating the public sector Syndicate Bank's electronic payment mechanism for utilities here on Thursday, Mr. V Leeladhar, ... More INSIGHT No regulator for MFIs, please The banking sector prefers large accounts; the number of loan accounts of small borrowers with credit limit range of less than Rs 25,000 has dropped from 5.88 crore in 1991 to 3.69 crore in 2003. Still the Government promises 8 per cent GDP growth. More FOREX Rupee tad weaker; gilts decline MUMBAI: The rupee reversed its week-long upturn and edged down against the dollar on Thursday. It ended trade at 43.5305/54, lower than Wednesday's close of 43.4950, as the dollar gained ground elsewhere. A forex dealer at a private ... More SOFTWARE Polaris says it with apples, promotes banking product A BROCHURE to go with a box of apples and ascorbic acid, a preservative. Oh, yes, add to it a note that says none of the apples will go bad. That's Polaris' way of assuring top bankers that its software will keep tab of what they have lent. At ... More GENERAL INSURANCE 
Centurion Bank to sell ICICI Lombard's productsCENTURION Bank and ICICI Lombard have signed a bancassurance agreement for the distribution of general insurance. As per this referral arrangement, Centurion Bank will distribute personal and business covers through its branches, direct sales ... More
Insurers told to design `cover' for Gulf NRIs RBI & OTHER CENTRAL BANKS Banks told to simplify claims on death of depositors THE Reserve Bank of India has directed banks to simplify the procedure to facilitate speedy and easy settlement of claims following the death of depositors. The apex bank has also told the Indian Banks' Association to formulate a model ... More PRIVATE BANKS Post-IPO, Rabobank to keep 20 pc stake in Yes Bank THE Netherlands-based Rabobank is expected to retain 20 per cent stake in Yes Bank, after the Initial Public Offer, said Mr Rana Kapoor, Managing Director and CEO. Yes Bank's IPO will open on June 15 and close on June 21. Rabobank's stake ... More PUBLIC SECTOR BANKS Dena Bank drops plan to join StanChart-promoted ARC DENA Bank has decided not to join the proposed asset reconstruction company (ARC) to be promoted by Standard Chartered Bank, according to Mr M.V. Nair, Executive Director, Dena Bank. The bank, which was earlier considering taking a stake in the ... More
Narayanasami sees brand image, branch network as IOB strengths GOVT BONDS State loan auctions THE Reserve Bank of India has announced that 11 State Governments would raise loans amounting to Rs 2,481.15 crore, by selling 10-year State Development Loans, through a yield-based auction using multiple price auction method. The States that ... More EVENTS 
`Banks have to reorient business processes'GOVERNMENT bond prices would not be affected despite the restricted participation by banks in the dated securities auctions, according to Mr V. Leeladhar, Deputy Governor of the Reserve Bank of India. Speaking to presspersons after an Indian ... More CO-OPERATIVES Gujarat co-op banks' licence cancelled THE Reserve Bank of India has cancelled the licence of two co-operative banks in Gujarat, as they ceased to be solvent. The two banks are the Royale Co-operative Bank Ltd, Surat, and Shri Swaminarayan Co-operative Bank Ltd, Vadodara, according to ... More PEOPLE 
Five banks get new chiefsTHE Government today appointed new chiefs for Indian Overseas Bank (IOB), Andhra Bank, Canara Bank, Indian Bank and Bank of India. Mr T.S. Narayanasami, who was the CMD of Andhra Bank, has moved to IOB as its new Chief Executive. IOB was ... More Comments & Letters to the Editor to: bleditor@thehindu.co.in Subscribe to: Business Line |
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Looking back May. 29-Jun. 4 Forex reserves down $520 m Life insurers, MFs keep bond market buoyant Insurers may hike premiums on corporate medical covers Insurers prefer corporate agency tie-ups to referrals NGO's 2-pronged strategy to help raise milk yield Tax on cash withdrawals takes effect Medium term bank deposits continue to rule supreme! IBA signs wage pact with unions NBFCs allowed to borrow overseas |
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