The Hindu Business Line : Tuesday, December 20, 2005

SBI Caps wins bid for valuation of Govt stake in Balco
THE Core Group of Secretaries on Disinvestment has decided to award the valuation of the Government-owned 49-per cent stake in Bharat Aluminium Company Ltd (Balco) to SBI Capital Markets Ltd for a fee of Rs 22 lakh. The Government had sold 51 ... More

FOREX

Rupee moves up; bond prices fall
MUMBAI: The rupee gained sharply against the US dollar on Monday due to good supplies, possibly from the ICICI Bank's public issue and inflows into the equity market. Dealers said tightness in the call money market forced banks to ... More

LIFE INSURANCE

LIC to recruit 3,000 development officers
AFTER a gap of four years, the Life Insurance Corporation of India, will be recruiting 3,000 development officers shortly, a senior LIC official told Business Line today. The corporation recently received approval for this major ... More

PRIVATE BANKS

Kotak Mahindra to expand wealth management biz
KOTAK Mahindra Bank, which is the second largest player in wealth management, is planning to increase this segment from a base of over 2,000 clients to over 3,000 by March 2006, said Mr C. Jayaram, Head, Wealth Management. "We are very ... More

PUBLIC SECTOR BANKS

SBI-TCS venture to offer tech platform to small banks
THE technology venture, being promoted by State Bank of India in association with Tata Consultancy Services (TCS), will soon open its platform for others in the banking sector. The company, in which TCS has 51 per cent and SBI 49 per cent ... More

SBI plans to double agri credit portfolio in Maharashtra, Goa
SBI Mumbai zone is on track to double its agriculture credit by March 2006. The bank hopes to achieve this by offering loans for hi-tech farming and for allied products such as commercial forestry, diary activities, and emu farming, and by ... More

PNB to carve out Andhra Pradesh zone
PUNJAB National Bank has decided to carve out a separate zone for Andhra Pradesh to focus better on Southern States. The bank has made the necessary arrangements and the zone is to be formed shortly, said Mr Gobinda Banerjee, Deputy General ... More

CREDIT MARKET

Exim Bank extends $15-m credit line to Iranian Banks
THE Exim Bank has extended a fourth short-term Line of Credit of $15 million to six Iranian commercial banks, to finance India's exports to Iran. Under this facility, Exim Bank will reimburse Indian exporters 100 per cent value of letters of ... More

TRADE & LABOUR UNIONS

SBI staff stage hunger strike
ENTIRE members of the central committees of the State Banks' Staff Union (SBSU) and SBI Officers' Association (SBIOA) went on a hunger strike on Monday in protest against the `faulty and hasty implementation of core banking' in SBI Kerala Circle. ... More

Canara Bank staff oppose mergers, acquisitions
THE employees of Canara Bank have opposed "the proposals of the Union Government to promote mergers and consolidation of public sector banks, dilution of equity in PSU banks by way of disinvestment and unrestricted entry of FDI into the ... More