The Hindu Business Line : Saturday, July 09, 2005

Banks getting finer rates on overseas loans
INDIAN banks are getting better rates on their overseas borrowings, thanks to the strong credit rating enjoyed by the country and some of the domestic banks. According to bankers, they are now being offered credit by foreign banks at 10 to 15 ... More

FOREX

Rupee firms up; securities weak
MUMBAI: The rupee marginally strengthened against the dollar as FII inflows neutralised the effect of the spiralling price of oil and a weak euro. The rupee opened at 43.62/63 and touched an intra-day low of 43.64/6450. It closed at ... More

GENERAL INSURANCE

IFFCO-Tokio, Janakalyan Bank pact
MUMBAI: General insurance company IFFCO - Tokio (ITGI) has entered into a bancassurance alliance with the Mumbai-based urban co-operative, Janakalyan Sahakari Bank. ITGI, a joint venture between the Indian Farmers Fertiliser ... More

PUBLIC SECTOR BANKS

PNB open to shedding stake in UTI MF
CLOSE on the heels of State Bank of India expressing its willingness to consider taking over UTI Mutual Fund, another sponsor — Punjab National Bank — has expressed a willingness to scrutinise proposals to offload its holdings in ... More

PNB opens ATM at Kottakkal
KOCHI: Punjab National Bank has opened an ATM at Kottakkal in Malappuram district. Dr P.K. Warrier, Managing Trustee of Kottakkal Arya Vaidya Sala, inaugurated the ATM. The bank's Kozhikode Regional Manager, Mr B.K. Jayaprakasan, presided ... More

Oriental Bank dividend to Govt
NEW DELHI: Oriental Bank of Commerce (OBC) has paid a dividend of Rs 38.40 crore to the Government for fiscal 2004-05. The dividend cheque was handed over to the Finance Minister, Mr P Chidambaram, by the Chairman and Managing Director, ... More

FINANCIAL INSTITUTIONS

AROUND THE BOURSES
IL&FS offer subscribed 29 times
MUMBAI: THE IL&FS Investsmart India, a financial services firm, IPO has been subscribed by 29.2 times. The IPO received bids for 33.28 crore shares compared to issue size of 1.14 crore shares with maximum bids (33.14 crore shares) at ... More

INTEREST RATES

Will RBI signal firmer rates in Q1 review?
"International liabilities of banks are now nearly double of their international assets which is an issue of serious concern," says a RBI report. More

MONETARY POLICY

Advisory panel on monetary policy set up
THE Reserve Bank of India has set up a technical advisory committee on monetary policy with external experts. The terms of reference of the committee are to review macroeconomic and monetary developments and to advise on the stance of monetary ... More

NON-PERFORMING ASSETS

Madras HC asks debtors to repay banks in time
THE Madras High Court has, in what is considered as a far-reaching judgment, refused to exercise its discretion under Article 226 of the Constitution in favour of the petitioners, who were borrowers from banks and did not wish to repay the same. ... More

`NPA management must focus on recovery'
The total NPA provisioning during the last three years has been in excess of the collective net profit of the PSBs, says an ARCIL study. More

CO-OPERATIVES

Kerala, Karnataka to sign MoU with RBI on urban co-ops
TWO more States - Kerala and Karnataka - are likely to sign the Memorandum of Understanding with Reserve Bank of India, with regard to urban co-operative banks, said Mr B. Vijayakumar, Chairman, National Federation of Urban Co-operative ... More

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