The Hindu Business Line : Tuesday, June 28, 2005

Online money transfer service
Mr Anil K. Khandelwal, Chairman and Managing Director, Bank of Baroda; Mr A.C. Mahajan, Executive Director, and Mr K. Suresh Rangarajan, Chief Operating Officer, TimesofMoney.Com, at a press conference to announce the launch of ... More

PENSION PLANS

Help get Pension Bill passed, Centre tells States
THE Centre on Monday appealed to the States to recognise the need to set up the Pension Fund Regulatory and Development Authority (PFRDA) quickly so that it could act as a backbone for all pension-related reforms. For this the Bill to set up ... More

INSIGHT

BIS Platinum Jubilee report: `Build on financial stability'
Central banks the world over have to shed the business-as-usual approach and consolidate the gains made so far in their quest for maintaining international financial stability through the cooperative efforts of all stakeholders. This is the loud and clear message of the Platinum Jubilee Report of the Bank for International Settlements, says G. Srinivasan. More

The effect of credit growth on NPAs
FINANCIAL year 2004-05 has seen substantial growth in bank credit. As on March 18, 2005, the annual credit growth was 26.2 per cent against a much lower 16 per cent in the previous year. In this context, it is important ... More

FOREX

Rupee moves up; bonds decline
MUMBAI: The rupee strengthened against the dollar on Monday, though the movement was range-bound at 43.50-43.53. The rupee opened at 43.5150/5250 and ended trade at 43.4950/50, higher than Friday's close of 43.53/54. According to ... More

FINANCIAL PERFORMANCE

LIC Housing Finance net down 14 per cent
LIC Housing Finance has reported at net profit of Rs 143.72 crore for the fiscal year 2004-05 — a 14.18 per cent fall from Rs 167.47 crore in the previous year. The board of directors has recommended a dividend of 50 per cent. The ... More

PUBLIC SECTOR BANKS

Vijaya Bank plans expansion in urban, semi-urban areas
VIJAYA Bank is going in for a major branch expansion in urban and semi-urban areas to become a `big bank' with major presence throughout the country, according to Mr M.S. Kapur, Chairman and Managing Director. The bank will soon open its ... More

FINANCIAL INSTITUTIONS

IDFC IPO price band at Rs 29-34 a share
INFRASTRUCTURE Development Finance Co Ltd has filed a red herring prospectus with the Registrar of Companies for its public issue with a price band of Rs 29-34 per share of face value Rs 10. The public issue of 40.3 crore equity shares of Rs 10 ... More

GOVT BONDS

Petroleum Ministry to push for release of oil bonds
THE Petroleum Ministry has stepped up pressure on the Finance Ministry for release of second tranche of oil bonds. Official sources told Business Line that, the Petroleum Ministry has been pushing for it and indications are that it may ... More

Insurers seek more long-dated papers
PRIVATE sector life insurers faced with asset-liability mismatches have sought greater government investments in infrastructure through long-term borrowings. One of the major factors contributing to the asset-liability mismatch was the absence ... More

CO-OPERATIVES

RBI, AP Govt sign pact to strengthen urban co-op banks — MoUs with other States on cards
IN a trend-setting move, the Reserve Bank of India has entered into a memorandum of understanding (MoU) with the Andhra Pradesh Government on Monday for strengthening the State-based urban co-operative banks (UCBs). According to the MoU, the ... More

PEOPLE

LIC Housing Finance Director
HYDERABAD: Mr K. Narasimha Murthy, a chartered accountant, has joined the board of LIC Housing Finance Ltd as an Independent Director on June 26. Mr Murthy, who chaired the Expert Committee on Urban Co-op Banks in Andhra Pradesh, has ... More

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