The Hindu Business Line : Friday, September 09, 2005

Bank of India to adopt two Kerala villages for funding
TO coincide with centenary celebrations, Bank of India, Kerala Region, is adopting two villages in the State to extend financial assistance for various agricultural related schemes. The villages identified are Mannoor in Ernakulam district and ... More

REGIONAL RURAL BANKS

Malaprabha bank anniversary
MANGALORE: The Dharwad-based Malaprabha Grameena Bank will celebrate its 29th anniversary at Dharwad on September 9. A bank release said here that Mr Shankarlinge Gowda, Secretary, Information Technology, Karnataka Government, would ... More

FOREX

Rupee ends firm; bond prices fall
MUMBAI: The rupee ended firmer against the dollar on Thursday as the domestic currency was supported by foreign institutional inflows. The rupee opened at 43.86 and touched an intra-day high of 43.8050. It closed at 43.81, up from ... More

NBFCS

Big NBFCs told to file monthly returns
ALL non-banking banking finance companies with asset size of Rs 100 crore and above will have to submit monthly returns to Reserve Bank of India. According to a notification issued by the RBI, the return should be submitted within seven days ... More

LIFE INSURANCE

Kotak Life aims at Rs 550-cr premium income this fiscal
KOTAK Life is targeting first premium income of Rs 550 crore this fiscal. The company reported a total premium income of Rs 374.75 crore in 2004-05 and is confident of achieving Rs 700 crore (first premium plus regular premium) before March ... More

GENERAL INSURANCE

GIC declares 15 pc dividend
GENERAL Insurance Corporation of India (GIC) has declared a 15 per cent dividend of Rs 64.5 crore. The company declared 1:1 bonus and its enhanced equity capital now stands at Rs 430 crore. GIC's net premium income grew 10.83 per cent to touch ... More

Katrina effect: Insurance cost for projects set to harden
HURRICANE Katrina has sent the jitters down the domestic non-life insurance companies who fear a major hardening of the reinsurance markets worldwide. Industry sources said that non-treaty reinsurances have already hardened in the aftermath of ... More

RBI & OTHER CENTRAL BANKS

No change in growth assessment says Dy Governor
OIL prices, at the current levels, could lead to a slowdown in world economic activity. However, there is no change in the Reserve Bank of India's assessment of growth, as of now, according to Mr Rakesh Mohan, Deputy Governor, RBI. The apex bank ... More

PUBLIC SECTOR BANKS

Ministry unhappy over lower growth projections — Govt asks PSBs to rework annual goals
NEARLY half-a-dozen public sector banks, including heavyweights State Bank of India and Punjab National Bank, have been asked by the Ministry of Finance to rework the Statement of Intent of Annual Goals for the current fiscal. The move comes in ... More

GOVT BONDS

11 States to raise Rs 2,900 crore
THE Reserve Bank of India announced that 11 State Governments would raise loans amounting to around Rs 2,900 crore by selling 7.53 per cent 10-year State Development Loan 2015, by way of on-tap sale under the normal market borrowing programme, ... More

CREDIT MARKET

Union Bank retail mart opens in Pune
UNION Bank of India inaugurated the Pune retail mart here today. The national roll-out of retail marts has been fixed for Spetember 23. Mr V.S R. Murthy, General Manager, Union Bank of India, giving details about the retail marts said these marts ... More

ALLIANCES & JOINT VENTURES

Andhra Bank, SIDBI to focus on financing SMEs
IN tune with the Small and Medium Enterprises (SMEs) focus announced by the Union Finance Minister in his Budget speech, Andhra Bank and SIDBI (Small Industries Development Bank of India) have entered into an agreement to co-finance SMEs, service ... More

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