The Hindu Business Line : Tuesday, June 24, 2003

ICICI Bank bags US magazine award
ICICI Bank has won DM Review's World Class Solution Award 2003 in the `Business Intelligence' category for its Teradata enterprise data warehouse solution, according to a company release. Teradata, a division of NCR Corporation, on ... More

FOREX

Rupee loses 13 paise; securities lacklustre
Mumbai: THE domestic currency was driven down to close at 46.67/68 per dollar on Monday, largely on account of the usual month-end scramble by banks to cover short dollar positions. The rupee closed at 46.54/5450 against the dollar last ... More

FINANCIAL PERFORMANCE

Kotak Mahindra Bank net down at Rs 73 crore
EXPENSES incurred for setting up as a bank coupled by losses incurred by its insurance subsidiary has led Kotak Mahindra Bank Ltd to record a lower net profit of Rs 73.31 crore, for the year ended March 31, 2003, as against Rs 84.08 crore in the ... More

SOFTWARE

i-flex solution for Egyptian bank

HOUSING FINANCE

HDFC to focus on secondary cities
HAVING built up a strong bond with the retail customers of the metros and major cities of the country, Housing Development Finance Corporation (HDFC) has now begun to focus on the secondary cities. Inaugurating the new HDFC office at ... More

GENERAL INSURANCE

`No plan to offload equity in non-life insurance cos'
THE Government has no immediate plans to include the four nationalised non-life insurance companies into the disinvestment list. At present, the four companies are 100 per cent owned by the Centre. "There is no proposal before us to offload the ... More

Opposition from unions — Public sector insurers defer VRS
THE voluntary separation scheme for employees of the four public sector insurance companies has been deferred on the face of opposition from the some of the unions, in particular the union led by the Shiv Sena in Maharashtra. Sources said that ... More

PUBLIC SECTOR BANKS

HMT, State Bank of Mysore ink pact
BANGALORE: HMT Ltd has entered into a memorandum of understanding (MoU) with the State Bank of Mysore (SBM) to work together to promote agriculture mechanisation in south India. SBM-HMT Agri Farm Scheme, launched under the pact, will ... More

FINANCIAL INSTITUTIONS

Panel formed to identify new chief for IDBI
THE Government has set up a search committee to identify a chief for term lender Industrial Development Bank of India (IDBI) that is expected to become a bank soon. The current Chairman and Managing Director, Mr P.P. Vora, retires in September. ... More

NON-PERFORMING ASSETS

Lok Adalat settles 390 bank cases in TN
LOK Adalat is emerging as the most successful platform in settlement of bank cases. Hundreds of bank cases (in the pre-litigative stage) had been settled before the Lok Adalat between January and May 2003, compared to the corresponding period of ... More

PEOPLE

New GM for Corpn Bank

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