The Hindu Business Line : Saturday, October 08, 2005

Probe sought into Janakalyan Sahakari Bank functioning
THE Congress party has demanded an inquiry by the Maharashtra Government into the functioning of the Janakalyan Sahakari Bank Ltd. The bank has recently hit the headlines with the Reserve Bank of India issuing notice regarding its financial ... More

Pandyan Grama selected as best regional rural bank
THE Pandyan Grama bank, functioning in seven districts in south Tamil Nadu, has been selected as the `Best RRB (regional rural bank)' among 196 RRBs in the country. According to a release, the bank has always stood first in achieving the annual ... More

FOREX

FII outflow sparks demand for dollars — Re hits 10-month low
THE rupee slid to a near 10-month low against the dollar on Friday as import-related demand drove heavy buying of greenback. According to dealers, concerns of dollar strengthening against other major currencies and outflow of FII funds in the ... More

NBFCS

Sutlej Ind to become an NBFC post-restructuring
AFTER the completion of the restructuring of Sutlej Industries Ltd, a K.K. Birla Group outfit, the company will turn into a non-banking financial company (NBFC) as its entire textile business has been transferred to a wholly-owned subsidiary, ... More

HOUSING FINANCE

HDFC property show begins in Pune
The highlights of the HDFC offer during the exhibition would be special interest rates of 7.35 per cent against the current 7.5 per cent and concessional fees, spot approvals of home loans, lucky draws on registration every hour, special lucky draw o n booking property at the exhibition, free property counselling services on housing and legal and technical guidance. More

GENERAL INSURANCE

Health cover for tsunami-hit on the cards
THE Union Government is planning to offer health insurance and personal accident cover as an extension to the Universal Health Insurance Scheme, to those affected in the tsunami. The United India Insurance Company has made a presentation ... More

United India to take up motor detariffing with regulator
UNITED India Insurance will take up the issue of detarrifing of the motor portfolio along with the other tarrifed lines like fire and engineering with the Insurance Regulatory and Development Authority (IRDA), said Mr M.K. Garg, ... More

GOVT BONDS

Bond market bearish ahead of Credit Policy
MUMBAI: In the Government securities market, prices fell by about 18 paise on Friday in anticipation of a hike in interest rates in the review of credit policy this month. Dealers said that a rise in the domestic inflation sparked by ... More

NON-PERFORMING ASSETS

Who's to blame for high NPAs in priority sector?
For that matter do the Government and the Reserve Bank of India care any more for the idea? Has priority sector lending improved the life of the farmers? Has any impact study of directed lending over 36 years been made? "Even after 36 years of ... More

New corporate debt revamp norms soon, says RBI Governor
'Cos must disclose risk exposures'
THE Reserve Bank of India will come out with the revised guidelines for the Corporate Debt Restructuring Mechanism in a couple of weeks, the RBI Governor, Dr Y.V. Reddy, said here today. A special group recently reviewed the CDRM and the ... More

CREDIT MARKET

Kerala panel urges banks to give more loans to farm sector, SSIs
THE commercial banks have to restructure their credit policies to give more emphasis to loans for agriculture, small-scale industries and small borrowers, according to a study report of a working group constituted by the State Planning ... More

OBU credit for EOUs — Commerce Ministry presses case for parity with SEZs
THE Commerce Ministry is to take up with the Reserve Bank of India (RBI) the issue of allowing offshore banking units (OBUs) to extend credit to the export-oriented units (EOUs) on the same terms and conditions as applicable to units in the ... More

CREDIT CARDS & DEBIT CARDS

Another ICICI Bank co-branded card for Pantaloon customers
BANGALORE: Pantaloon Retail and ICICI Bank have tied up to offer co-branded credit cards to the former's `Central' mall customers. The two have a two-year old relationship offering similar co-branded cards to Pantaloon Retail's `Big ... More

FIXED DEPOSITS

Karnataka Bank hikes FCNR, NRE rates
MANGALORE: Karnataka Bank has increased interest rates on FCNR (B) and Non Resident Deposit Scheme with effect from October 1, says a bank release ... More

MERGERS & ACQUISITIONS

SBI to acquire 76 pc stake in Kenyan bank
STATE Bank of India is acquiring 76 per cent stake in Kenyan bank, Giro Commercial Bank, for $7 million, as part of its global expansion plans. This will increase SBI's footage in Africa, where it is already present in four countries, said Mr ... More

VENTURE CAPITAL

Dewan Housing to float realty venture fund
DEWAN Housing Finance Ltd has obtained the Securities and Exchange Board of India (SEBI) registration for a real estate venture fund. The close-ended fund has target corpus of Rs 250 crore along with a greenshoe option of Rs 100 crore, said Mr ... More

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