The Hindu Business Line : Tuesday, October 21, 2003

Asset Reconstruction Co to buy assets from promoters
ASSET Reconstruction Company (India) Ltd, the first ARC registered in the country, is all set to buy assets with a gross value of Rs 4,000 crore from its very own promoters — State Bank of India, IDBI and ICICI Bank. The whole exercise will ... More

FOREX

Rupee closes steady; bond volumes surge
MUMBAI: The rupee on Monday closed at similar levels to that of Friday's after dips intra-day. The domestic currency ended the day at 45.35/36 against the dollar after dropping to 45.43 on dollar demand and lower supplies. According to ... More

FINANCIAL PERFORMANCE

Union Bank Q2 net rises to Rs 170 cr
A sixty-five per cent jump in non-interest income has helped Union Bank of India to earn 82.80 per cent growth in net profit in the second quarter of this fiscal. The net profit has zoomed to Rs 170 crore for the second quarter ended September ... More

Bharat Overseas net up 50 pc
BHARAT Overseas Bank Ltd has reported a net profit of Rs 13.54 crore for the first half of the current year, 50 per cent higher than Rs 9.02 crore it made in the same period last year. In a press release, the bank said that its operating ... More

Syndicate Bank H1 net up 51 pc
SYNDICATE Bank has announced 50.79 per cent increase in the net profit during the first half of the current fiscal ended September 2003; profit for the period stood at Rs 216.45 crore as against Rs 143.54 crore for the corresponding period of the ... More

SBT net doubles
Thiruvananthapuram: The operating profit of State Bank of Travancore (SBT) at the end of the first half-year of the current fiscal went up 116 per cent over the corresponding period in the previous year. The operating profit stood at Rs ... More

HOUSING FINANCE

ABN Amro enters home loans with 'super saver' offer
The foreign bank's move to enter the housing loan segment with such low rates is expected to trigger another rate war among banks and housing finance companies. More

INTEREST RATES

Andhra Bank cuts rate for SHGs
ANDHRA Bank has decided to reduce the rate of interest by 50 basis points to 8.5 per cent from the existing level of 9 per cent in its efforts to encourage the Self Help Groups (SHGs) movement across the country, especially in view of the good ... More

GOVT BONDS

Banks hold gilts much in excess of SLR
EVEN as yields on 10-year gilts have plunged below the 5 per cent mark, scheduled commercial banks' (SCB) holding of government paper has crossed 40 per cent of their net demand and time liabilities (NDTL). As on October 3, the outstanding ... More

CREDIT MARKET

Benchmark PLR not conducive: IBA
THE Indian Banks' Association has said that it is not comfortable with the concept of a single benchmark PLR. Speaking to presspersons, at the sidelines of a press conference here today, Mr V. Leeladhar, Chairman and Managing Director, UBI, and ... More

CREDIT CARDS & DEBIT CARDS

Syndicate Bank launches global credit card
SYNDICATE Bank, in association with Visa International, launched "Syndicate Bank Global Credit Card" in Manipal of Udupi district on Monday. The Mr Michael Bastian, who launched the card at the 78th Founders Day function here, symbolically ... More

SOCIETY & DEVELOPMENT

SBI, associates give Rs 8.1 cr to PM relief fund
STATE Bank of India and its seven associates have contributed Rs 8.51 crore to the Prime Minister's National Relief fund. A cheque for the amount was recently handed over to the Prime Minister, Mr Atal Bihari Vajpayee, by Mr A.K. Purwar, ... More

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