The Hindu Business Line : Wednesday, September 28, 2005

`New pension plan can draw 2 crore subscribers initially' — Stable, low inflation regime vital, says Rakesh Mohan
THE Pension Fund Regulatory and Development Authority (PFRDA) has assessed that the proposed New Pension System could attract about two crore subscribers during its initial days and that it could double in five to seven years. "In our ... More

RURAL MARKETING

`Rural banking faces twin challenges
BANKING in rural India is faced with the twin challenges of regulation and distribution. Regulation with respect to banking has been designed for delivery in urban India and distribution required more manpower to be deployed in rural areas, ... More

INSIGHT

Where is rupee headed?
ALTHOUGH the Indian rupee has been appreciating steadily since August 2004 against the dollar, the trend is unlikely to continue. Indeed, it has begun to depreciate in the last few days. And considering the strength of ... More

FOREX

Rupee under pressure; bond prices weaken
MUMBAI: The rupee continued to be under pressure on Tuesday as the month-end demand for the US dollar continued from oil companies and other importers. It opened at 43.96/97 and closed at 44.04/05, lower than Monday's level of ... More

HOUSING FINANCE

Iffco-Tokio covers for PNB home loans
IFFCO-TOKIO General Insurance Co Ltd (ITGI) today entered into a tie-up with Punjab National Bank (PNB) to provide the bank's customers with ITGI's fire and personal accident insurance policy along with housing loans. PNB customers will now ... More

HUMAN RESOURCES

Corpn Bank honours branch managers
THE Government will confine its role with regard to public sector banks to two functions — holding a majority stake of 51 per cent in the banks and appointing chief executive officers, according to Mr Vinod Rai, Additional Secretary, Banking ... More

RBI & OTHER CENTRAL BANKS

Report on doing business in 2006: `World Bank findings present far too bleak a picture based on limited inputs'
The DIPP pointed out that the Government has already initiated a number of steps to simplify and speed up the process of PAN allotment. More

PRIVATE BANKS

BoR plans more branches in South
BANK of Rajasthan is planning to open six more branches in South India in the next three months. This will take the total number of branches in south India from 14 to 20. The bank is also planning to increase the share of retail business to total ... More

PUBLIC SECTOR BANKS

Farm loans to be 20 pc of Allahabad Bank's credit flow
ALLAHABAD Bank aims to ensure credit flow to the agriculture sector at 20 per cent of the net bank credit by March next year. The bank is eyeing fresh credit delivery to the tune of Rs 1,000 crore by the half year ending September 30 and Rs ... More

Dena Bank plans major thrust on retail biz
DENA Bank is planning to focus on retail business in a big way. The bank's retail business, currently growing at 110 per cent, will see fresh focus by way of more FinMarts for selling retail loans and third party products. The plan is to increase ... More

NON-PERFORMING ASSETS

OTS for Hyderabad Flextech
HYDERABAD Flextech Ltd (HFL) has received one time settlement (OTS) approval from the Industrial Development Bank of India (IDBI). In a communication to the stock exchanges, the company said that the OTS is approved for Rs 5.5-crore against ... More

CREDIT MARKET

Assocham seeks flexible interest rate policy
TO meet export finance requirements, the Associated Chambers of Commerce and Industry of India (Assocham) has suggested that the Reserve Bank of India adopt a flexible interest rate policy and accord priority to small and medium enterprises ... More

REGULATORY BODIES & RULINGS

SEBI will do its job
If,indeed, prices of some stocks are rigged by broker cartels, the stock exchanges and SEBI have enough teeth to bring the erring parties to book. More

TRADE & LABOUR UNIONS

Rural bank staff to join tomorrow's strike
THE Andhra Pradesh Regional Rural Banks Employees Association (APRRBEA) has announced that all its affiliate units in 16 RRBs functioning in the State will participate in the general strike on September 29 as per the call of its national body - ... More

CO-OPERATIVES

Visakha co-op bank to pay 10 pc dividend
VISAKHAPATNAM Co-operative Bank Ltd has declared 10 per cent dividend for 2004-05. The decision was announced at its annual general meeting here. According to the report read out by the director, Mr Ch. Raghavendra Rao, the bank's deposits ... More

PEOPLE

New GM for SBH
HYDERABAD: Mr C.V. Krishnakumar has assumed charge as General Manager of the State Bank of Hyderabad (SBH) on Monday. Before this posting, he was the Deputy General Manager in State Bank of Travancore at Thiruvananthapuram. According to ... More

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