The Hindu Business Line : Friday, October 10, 2003

Rupee up 11 paise; securities decline
MUMBAI: The rupee closed 11 paise stronger at 45.2650/27 per dollar, as against Wednesday's closing at 45.38/39, in a volatile forex market on Thursday. The domestic currency opened at 45.34 and fell to an intra-day low of 45.42, driven ... More

STOCKS

UCO Bank debuts in style — Share closes at Rs 19.60 on the NSE
NEWCOMER UCO Bank stepped into a euphoric bull market today, the stock debuting at a 43 per cent premium to its issue price of Rs 12. The UCO Bank share began trading at Rs 17.25 but steadily rose to touch Rs 20.45, before settling back to ... More

FINANCIAL PERFORMANCE

Canbank Factors net up 14.5 pc
CANBANK Factors Ltd, a subsidiary of Canara Bank, has recorded a net profit of Rs 5.2 crore for the quarter ended September 30, 2003, up 14.54 per cent over the corresponding period in the previous year. Its performance comes at the back of ... More

PUBLIC SECTOR BANKS

Syndicate Bank board meet

FINANCIAL INSTITUTIONS

NEDFi continues to remain healthy; gross income up 20%
THE Guwahati-based North Eastern Development Finance Corporation Ltd, popularly known as NEDFi, has continued to generate profits despite operating in the most backward region of the country. For the year ended March 31, 2003, NEDFi registered ... More

INTEREST RATES

Repo, bank rate cut on the cards?
Bankers said that they expect at least 25 basis point reductions in the repo rate and the bank rate. The repo rate, reduced only two months ago, now stands at 4.5 per cent. More

GOVT BONDS

RBI auction today for Rs 11,000 cr
THE Reserve Bank of India will mop up Rs 11,000 crore from the bond markets on October 10, as part of its open market operations. The apex bank has decided to suck out the excess liquidity in the system, by offering the 5.48 per cent 2009 ... More

NON-PERFORMING ASSETS

Recovery of term loans by APSFC — Nagarjuna Granites MD accused of hiding facts
TERMING the allegations levelled against it by the Nagarjuna Granites Managing Director, Mr O. Krishna Reddy, on recovery of term loans as totally baseless, the Andhra Pradesh State Financial Corporation (APSFC) has accused him of concealing the ... More

CREDIT MARKET

Project finance: Investors are still playing safe
EVEN as there are few projects and fewer financiers, the project finance market in India is undergoing a sea change. Debt equity ratios are being watched more closely and new concepts such as `sell down of assets' are gaining ... More

CREDIT CARDS & DEBIT CARDS

IDBI Bank, Visa launch gift card
IDBI Bank along with Visa International has launched a gift card, perhaps the first one of its kind. The pre-paid card with a minimum limit of Rs 1,000 and up to a maximum of Rs 20,000 is valid for a period of one year from the date of issue ... More

Leisure credit card launched
BANGALORE: RCI, engaged in timeshare exchange, and Standard Chartered Bank, have announced the launch of India's first leisure credit card, the RCI Standard Chartered Gold Card. Aimed exclusively at the RCI members in the country, the ... More

ALLIANCES & JOINT VENTURES

Karnataka Bank, MetLife join hands
KARNATAKA Bank Ltd and MetLife India have announced the launch of K-Life — a term product designed for SB/current account holders of the bank. Quoting the Managing Director of MetLife India, Mr Venkatesh Mysore, a press release by the ... More

EVENTS

Paper on banking challenges
MANGALORE: The Chairman of Karnataka Bank, Mr Ananthakrishna, will release a paper on "Banking challenges: Can small remain beautiful?" authored by the noted banker, Dr N.K. Thingalaya, at the Justice K.S. Hegde Institute of Management in ... More

Bank customers meet today in Ernakulam

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