The Hindu Business Line : Wednesday, July 20, 2005

Rupee unchanged; bond prices drop
MUMBAI: The rupee remained almost unchanged against the dollar on Tuesday as foreign institutional investor inflows matched the demand for greenback. The rupee opened at 43.5450/5550 and weakened to 43.56 during the day. It closed the ... More

SOFTWARE

Polaris software for Taiwan bank
POLARIS Software Lab has entered into an agreement with Polaris Financial Group of Taiwan to provide banking software to Bank of Overseas Chinese, a member of the group. Announcing the agreement at a news conference, Mr Arun Jain, Chairman, ... More

ECONOMICS

Can `marketisation' cure poverty?
THE thing about free markets, according to its votaries, is that each man and woman works for his or her own self-interest and hey presto, society achieves economic nirvana. By the same token, Government intervention will upset the applecart ... More

PUBLIC SECTOR BANKS

Vijaya Bank organises meet on CGFS
THE Mangalore regional office of Vijaya Bank, in association with Credit Guarantee Fund Trust for Small Industries (CGTSI), organised a sensitisation programme on Credit Guarantee Fund Scheme (CGFS) recently. The Regional Manager of the bank, ... More

SBI pays Rs 393-cr dividend to RBI
STATE Bank of India made a payment of Rs 392.92 crore to Reserve Bank of India, representing the dividend for the financial year 2004-05, said a press release. SBI Chairman, Mr A.K. Purwar handed over the cheque to RBI Governor, Dr Y.V. Reddy ... More

Bank of India to take stake in broking firm
To augment its Tier II capital, the bank is planning a bond issue to raise Rs 300 crore and has also got approval to raise Tier I capital of Rs 100 crore through equity offering. More

Allahabad Bank pays dividend to Govt
New Delhi: Allahabad Bank has paid a final dividend of Rs 37 crore to the Government for the year 2004-05. The bank had announced a 15 per cent final dividend. The dividend cheque was handed over on Tuesday to the Finance Minister, Mr ... More

IPOS

Bharat Overseas Bank to raise Rs 100 cr through IPO in October
CHENNAI-BASED Bharat Overseas Bank Ltd is tapping the capital markets with its Rs 100-crore initial public offer in October. Mr G. Krishna Murthy, Chairman and Chief Executive Officer of the bank, said that the proceeds from the IPO would go ... More

STANDARDS & BENCHMARKS

`Banks will need more funds to meet Basel stipulations'
BANKING is one field in which India is ahead of China and the Indian banks are all geared up to implement Basel (second) Capital Accord by March 31, 2007, according to Mr K. Ramakrishnan, Chairman and Managing Director of the Andhra Bank. He ... More

PEOPLE

New GM for Corpn Bank
MANGALORE: Mr Bantwal Ramanath Bhat has been promoted as General Manager of Corporation Bank with effect from July 18. A bank release said here on Tuesday that Mr Bhat has worked in various capacities. At the corporate office, he headed ... More

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