The Hindu Business Line : Friday, August 12, 2005

Why continue sectoral funding plans
IF the banking system had cared to finance the small and medium sector as normal banking custom, Mr P. Chidambaram, the Union Finance Minister, might not have come up with a minimum 20 per cent year-on-year funding growth target. This is ... More

FOREX

Rupee weakens; bonds edge up
MUMBAI: The rupee further depreciated against the dollar as there was heavy dollar buying by state-run banks. The domestic currency opened at 43.56/57 and reached an intra-day high of 43.55on foreign institutional investor inflows. It, ... More

RBI & OTHER CENTRAL BANKS

RBI board meets
THE Central Board of Directors of the Reserve Bank of India on Thursday approved payment of Rs 5,400 crore dividend to the Government of India for the year ended June 30, said a press release from the RBI. The meeting chaired by the RBI ... More

PRIVATE BANKS

ICICI Bank to make Kolkata hub for eastern India operations
ICICI Bank has decided to develop its Kolkata base as the hub of all its eastern India activities, which are spread across Orissa, Jharkhand and the entire North Eastern region. Mr K. V. Kamath, Managing Director and CEO of ICICI Bank, who ... More

UTI Bank's Chittoor branch
HYDERABAD: UTI Bank has opened a branch in Chittoor. Mr S. Chatterjee, Executive Director, UTI Bank, inaugurated the branch. UTI Bank has a network of 268 branches, 87 extension counters and 1,689 ATMs across the country. The branches, ... More

GOVT BONDS

Good response to G-Sec auction
THE sale of two government securities — the 8.07 per cent 2017 paper and 7.5 per cent 2034 paper — for Rs 8,000 crore received over-subscription on Thursday. The notified amount for the 8.07 per cent 2017 paper was Rs 5,000 crore. ... More

CREDIT MARKET

ICICI Bank sees big scope in rural credit
ICICI Bank had worked out a strategy to cover the whole of rural India in the next three years. More

CREDIT CARDS & DEBIT CARDS

Gift a credit card
Actors Ajay Devgan and Kajol at the launch of "Best Compliments", a pre-paid card from Kotak Mahindra Bank in Mumbai on Thursday.

Ask and you will get credit card fee waived
THERE is this Tamil proverb that only the crying baby gets the milk. In similar fashion, only if you ask for a fee waiver - will you get it - from credit card companies. For those of you still paying the annual fee ( between Rs 750 and Rs ... More

MERGERS & ACQUISITIONS

ICICI Bank to divest entire stake in Federal Bank, SIB
ICICI Bank will divest its entire stake in Federal Bank and South Indian Bank (SIB) within the next two years, according to Mr K.V. Kamath, Managing Director and CEO. He was talking to reporters after addressing the members of the Indian ... More

EVENTS

More bank support sought for rural development schemes in TN
THE Tamil Nadu Chief Minister, Ms J. Jayalalithaa, has sought greater support from bankers for the Government's rural development schemes and increased flow of credit to on-farm and non-farm activities. In her speech at a special meeting of ... More

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