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Thursday, May 11, 2006
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MONEY & BANKING

INFORMATION TECHNOLOGY


RBI to go ahead with cheque truncation
The Reserve Bank of India (RBI) will go ahead and implement the cheque truncation system even if all the banks are not prepared for it, said a senior RBI official. He said that many big banks were still unprepared in terms of implementing the ... More

FINANCIAL PERFORMANCE


SBI Life posts Rs 2.02-cr net
Rides on fund performance, distribution, product strategy More

State Bank of Hyderabad net up 70 pc
State Bank of Hyderabad (SBH)has registered a growth of 24.34 per cent in total business, 21.71 per cent in operating profit and 70.2 per cent in net profit for the fiscal ended March 2006. The bank posted a total business of Rs 56,738 crore, ... More

NBFCS


Pursuit of prudence
Nidhi companies need prudential norms More

GENERAL INSURANCE


Insurance route to eliminate the perverse incentives of gatekeepers
When space vehicles and sportspersons can have insurance cover, why not financial statements? Aren't auditors the best insurance for financial statements, you may protest? No, say Alex Dontoh, Joshua Ronen and Bharat Sarath, in a research paper ... More

PSU insurers' market share drops to 73%
Private insurers premium grow 54% More

Plea to take action against insurance co
The General Insurance Officers All India Association has asked the authorities to take action against a private insurance company for not implementing the Kerala Government sponsored health insurance scheme for the poor. Even before the ... More

PUBLIC SECTOR BANKS


SBBJ mulls stock split, public issue
State Bank of Bikaner and Jaipur (SBBJ) is contemplating a stock split and at hitting the capital market shortly. The bank, however, would have to wait for the necessary legislation (expected) to be passed in the extended Parliament session ... More

FOREIGN BANKS


HSBC to grow SME exposure by 30 pc
Survey shows Indian cos most optimistic among peers worldwide More

FINANCIAL INSTITUTIONS


IFCI gains on turnaround story
IFCI attracted significant buying on the company's turnaround story. Its shares shot up by over 9 per cent on Wednesday to Rs 14.07, up from the previous close of 12.90. Dealers said the company was able to bring down its net NPAs to nine per ... More

FIXED DEPOSITS


BoR hikes NRE deposit rates
Bank of Rajasthan Ltd has announced an increase in the interest rates on Non-resident External (NRE) account and foreign currency non-resident (FCNR) account (B) deposits. The rate on NRE term deposits for maturity period of ... More

IPOS


`Govt nod likely soon for Central Bank IPO'
Central Bank of India hopes to get government clearance for its proposed initial public offer (IPO) soon, Ms H.A. Daruwalla, Chairperson and Managing Director, said on Wednesday. However, the bank will have to wait for certain legislative ... More
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Apr. 30-May. 6
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Deficit reduction on track: S&P



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