The Hindu Business Line : Tuesday, September 06, 2005

Good business from bad loans?
With recent RBI regulations paving the way for the sale of bad loans, banks seem set to offload their heavy burden of NPAs, and make some hot cash in the process. More

FOREX

Rupee gains 5 paise
MUMBAI: The rupee strengthened further against the dollar on Monday on the back of a revival in foreign institutional inflows. The domestic currency opened at 43.80 and touched an intra-day high of 43.7350. It, however, closed at 43.81, ... More

CONSUMER FINANCE

GE Money forays into used car finance
WITH increase in the number of cars and more aspiring customers, GE Money has kickstarted a used car finance initiative — GE Money Face2Face. Launching the scheme, first in the country from the GE umbrella, Mr Vishal Pandit, President ... More

RBI & OTHER CENTRAL BANKS

RBI proposes one-time settlement for SMEs
IN a move that will benefit the small and medium enterprises sector, the Reserve Bank of India has asked public sector banks to provide a simplified mechanism for one-time settlement of chronic non-performing assets in this sector. In the ... More

PUBLIC SECTOR BANKS

SBH sees growth from infrastructure funding
STATE Bank of Hyderabad (SBH) is eyeing the infrastructure sector and has recently approved funds for the greenfield Gangavaram port and the Hyderabad International Airport projects. The Managing Director of State Bank of Hyderabad, Mr Amitabha ... More

Andhra Bank's 12-hr banking
HYDERABAD: Andhra Bank on Monday launched the 8 a.m. to 8 p.m. banking in two branches at Malakpet and Vikasnagar in Hyderabad. The Chairman and Managing Director, Mr K. Ramakrishnan who inaugurated the new timings at Vikasnagar said, ... More

PNB launches SB account for students
PUNJAB National Bank has launched PNB Vidyarthi savings accounts under which students of 10 years and above can open saving accounts with zero balance facilities. Students can open accounts without any minimum balance or payment of any ... More

FINANCIAL INSTITUTIONS

CAG pulls up Goa finance body for losses
THE latest report of the Comptroller and Auditor General of India (CAG) on Goa's financial functioning has, among other things, pulled up the state-owned apex financial institution Economic Development Corporation Ltd (EDC) for losses on account ... More

INTEREST RATES

Educational loans: Chidambaram concern over high interest rates
THE Union Finance Minister, Mr P. Chidambaram, has voiced concern over the rate of interest charged on educational loans.Terming the 10.75 per cent rate charged on these loans as `high', Mr Chidambaram told a gathering of student beneficiaries ... More

Karnataka Bank's NRE deposit rates
MANGALORE: Karnataka Bank has revised interest rates on its Non-Resident (External) Rupee deposits with effect from September 2, says a bank release here. Our ... More

CORPORATE BONDS

BoI to raise Rs 750 cr as Tier II capital
BANK of India will raise Rs 750 crore to augment its Tier-II capital by way of private placement of unsecured redeemable non-convertible subordinated bonds, according to a filing with the Bombay Stock Exchange. The bank will make the private ... More

EVENTS

UCO Bank to host bankers' meet in Nov
The conference, to be held here on November 11 and 12, will be inaugurated by the Union Finance Minister, Mr P. Chidambaram. Mr V. Sridar, Chairman and Managing Director of UCO Bank, told Business Line that the theme of this year's ... More

ECONOMIC OFFENCES

Credit card frauds get high tech
When fake cards are swiped in a manual swiping machine, the fraud goes unnoticed. More

TRENDS

Banks see lower capital needs despite Basel
Bankers said that even after taking into account some extreme scenarios, their incremental capital requirement was likely to be minimal. More

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