The Hindu Business Line : Thursday, June 30, 2005

Rupee fall persists; bond prices up
MUMBAI: The rupee continued to slip on Wednesday, as the dollar gained against other Asian currencies and Euro. The rupee opened at 43.54/55 and closed at 43.56/57, lower than Tuesday's close of 43/53/53. According to the dealer with a ... More

SOFTWARE

Infosys, B-Source tie up to service European banks
INFOSYS Technologies and B-Source today announced a partnership to provide `pay-as-you-transact' services, known as Business Service Provisioning, to European banks in the private and asset management sectors. This model helps simplify management ... More

GENERAL INSURANCE

Plan to hike two-wheeler third party insurance premiums shelved
FACED with resistance from public sector general insurance companies, the proposal to hike two-wheeler third party insurance premiums has been put on hold. The Tariff Advisory Committee (TAC) of the Insurance Regulatory and Development ... More

Panel to overhaul group health insurance sector
`The definition of a group is widely misused and heterogeneous groups are being formed for the sake of availing discounts.' More

PRIVATE BANKS

I-Sec gets nod for Singapore venture
I-SEC, the merchant-banking arm of ICICI Bank, is setting up shop in Singapore to tap the region's thriving financial market. ICICI Securities Ltd has spun off a wholly owned subsidiary, ICICI Securities Inc, which has received permission from ... More

PUBLIC SECTOR BANKS

Syndicate Bank to enter BPO space
SYNDICATE Bank has firmed up plans to enter the BPO space, courtesy a proposal that will result in a venture aimed at catering to a number of sectors. The bank intends to deploy select personnel and use its own premises to serve businesses such ... More

Allahabad Bank gets 6 new directors
AT the extraordinary general meeting of Allahabad Bank held here on Wednesday, six representatives of shareholders were elected through poll as directors to the board of the bank. They are Mr Ashutosh Law, Mr Debeswar Kumar Kapila, Mr Mahesh ... More

GOVT BONDS

Floating rate bonds
THE Reserve Bank of India has set the interest rate on the floating rate bond (FRB) maturing in 2017 at 5.93 per cent per annum for the half-year from July 2, to January 1, 2006. It set the interest rate on the FRB maturing in 2015 at 5.78 per ... More

NON-PERFORMING ASSETS

Lakshmi Vilas Bank hopes to cut NPAs by half
LAKSHMI Vilas Bank hopes to scale down its net non-performing assets from 4.09 per cent to below 2 per cent by the end of the current fiscal, said Mr R.M. Nayak, Chairman and Chief Executive Officer. He told newspersons here today that ... More

CREDIT MARKET

SIDBI ties up with UCO Bank
THE Small Industries Development Bank of India (SIDBI) has started negotiations with KfW for a euro 40-million line of credit, which will be part of its overall plan to mobilise resources during the current fiscal. SIDBI, which expects to have ... More

SHORT TERM INSTRUMENTS

Treasury bill auctions fully subscribed
THE auctions of the 91-day treasury bill and the 182-day treasury bill on Wednesday were fully subscribed, said an Reserve Bank of India (RBI) press release. The notified amount for the 91-day treasury bill was Rs 2,000 crore. The RBI ... More

MERGERS & ACQUISITIONS

Bank of Punjab, Centurion merger ratio fixed at 4:9 — New entity to be called Centurion Bank of Punjab
THE board of directors of Centurion Bank Ltd and Bank of Punjab Ltd on Wednesday approved the merger of the two banks. The combined entity would be known as Centurion Bank of Punjab. Announcing the share-swap ratio, Mr Rana Talwar, Chairman, ... More

TRADE & LABOUR UNIONS

Problems of banking industry
THIRUVANANTHAPURAM: A meeting of the State committee of the National Confederation of Bank Employees (NCBE) held here on Wednesday discussed various problems dogging the banking industry. Mr John Joseph, who presided over the meeting, ... More

TRENDS

Banks in Dakshina Kannada register 20.5 pc rise in biz
NEARLY 350 branches of the 45 banks in Dakshina Kannada district recorded business level of Rs 10,422.14 crore during 2004-05 as against Rs 8,646.79 crore during the previous fiscal, registering a growth of 20.53 per cent. Addressing a meeting ... More

Comments & Letters to the Editor to: bleditor@thehindu.co.in
Subscribe to: Business Line

Pick a Winner Stock Market Contest

Bank of Punjab, Centurion merger ratio fixed at 4:9 — New entity to be called Centurion Bank of Punjab

Plan to hike two-wheeler third party insurance premiums shelved

Chances of El Nino event recede further

Monsoon turns rampaging current in north, west

In Focus

BHEL Disinvestment

China's revaluation

Dabhol power regenerated

Tracking the rains

Sethusamudram Canal Project