The Hindu Business Line : Friday, April 07, 2006

Western Union to charge less for remittances from UAE
Western Union, a provider of worldwide money transfer services, said has it reduced its charges to transfer money from UAE to Kerala as a special offer to expatriates from the State. Under this scheme, Western Union will charge a fee of 15 ... More

INSIGHT

Is `capital flight' a whopper?
Though full convertibility and full float are independent policy issues, many economists have urged policymakers to keep away from both. Capital flight, in their view, will be the inevitable result. Through four scenarios, G. RAMACHANDRAN demonstrate s why capital flight is a bogeyman. More

Capital account convertibility: Is the economy ready?
Why is India revisiting the capital account convertibility doctrine and what is the relevance of the debate? The major votaries this time round are from within the country. The benefits of convertibility could percolate to the middle-class. The po licymakers seem confident that even after full and free float of the currency, the economy is resilient enough to withstand the vagaries of international fiscal and monetary turbulence. More

INFORMATION TECHNOLOGY

Technology meet on May 10
Banknet India is organising a summit on `Transformining through Technology' on May 10, 2006. The second annual summit will bring together business heads from the banking industry as well as showcase the products of technology vendors across ... More

SOFTWARE

Wipro Tech ties up with Zafin Labs
Wipro Technologies has signed a strategic partnership with Dubai-based Zafin Labs. Zafin Labs provides solutions for revenue generation, recognition and assurance with focus on areas that include banking, finance, insurance and securities. The ... More

GENERAL INSURANCE

ICICI Lombard offers cover for wind farms
Brick kilns can get 6-month cover for unseasonal rainfall More

PUBLIC SECTOR BANKS

PSB chiefs may get more loan sanctioning powers
IBA proposal seeks Rs 200 crore as ceiling for group exposure More

Union Bank to focus more on rural credit
To set up more Village Knowledge Centres to disseminate farm-related info More

Maditssia sore over SBI strike
The Madurai District Tiny and Small Scale Industries' Association (Maditssia) is extremely sore over the State Bank of India staff strike over the issue of revision of pension benefits.The association President, Mr S. Aravind, in ... More

FINANCIAL INSTITUTIONS

IDFC Private raises Rs 1,900 cr for 2nd fund
About 75% of commitment is from overseas investors More

NON-PERFORMING ASSETS

Banks' `rigid' stand delays TRL revival
The company had borrowed Rs 9 crore from four banks about 16 years ago and it had repaid Rs 36 crore so far. Yet the outstanding amount is Rs 36 crore. All the money paid were adjusted against interest, penal interest etc. Consortium agains t OTS proposal More

FIXED DEPOSITS

More banks hike FCNR, NRE deposit rates
Punjab and Sind Bank (P&SB) has hiked the interest rates on foreign currency non-resident bank deposits and NRE term deposits with effect from April 1, 2006. Interest rate on US dollar deposit have been hiked from 4.9 per cent per annum to ... More

MERGERS & ACQUISITIONS

HC declines plea against merger of Ganesh Bank with Federal
Moratorium to continue for another four weeks More

TRADE & LABOUR UNIONS

Solidarity panel set up
The coordination committee of the State Bank's Staff Union (Kerala Circle) and SBI Officers Association (Kerala Circle) has set up a solidarity panel in support of the cause of the striking members in the bank. The patrons of the ... More

SBI strike hits transportation of cash from railway stations
Some government employees received their March pay in cash instead of cheque. This was because of the strike by employees of State Bank of India, from April 3. The Central Railways, for instance, paid part salaries in cash to about 550 ... More

SBI strike: Union opposes move to shift jobs
Any attempt by the Union Government to shift jobs from State Bank of India (SBI), which has been crippled by the ongoing strike, to other banks will be foiled, said a spokesman for the United Forum of Bank Unions, which comprises several unions ... More

IPOS

Indian Bank IPO in 2007
Indian Bank may go in for an initial public offer (IPO) in January or February 2007, Mr K.C. Chakrabarty, Chairman and Managing Director, Indian Bank, has said. The Cabinet approval for writing off its accumulated losses of Rs 3,830 crore ... More

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In Focus

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