MONEY & BANKING
FOREX
Forex reserves up $116 m
THE foreign exchange reserves of the country increased by $611 million to touch $118.490 billion for the week ended April 30, 2004 up from $117.879 billion. According to the latest weekly statistical supplement released on Saturday by the ...
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FINANCIAL PERFORMANCE
IOB posts 23 pc rise in PAT, declares 8 pc final dividend
INDIAN Overseas Bank's profit after tax for 2003-04 was Rs 512.76 crore, up by 23.22 per cent over the previous year's profit of Rs 416.10 crore. At a press conference on Saturday, IOB's Chairman and Managing Director, Mr S.C. Gupta, said that ...
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State Bank of Indore net up 13 pc at Rs 226 cr
STATE Bank of Indore has earned a net profit of Rs 226.26 crore for the financial year ended March 31, 2004, registering a growth of 12.95 per cent over the net profit of Rs 200.32 crore in the corresponding period of the previous year. The ...
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LIFE INSURANCE
Tata AIG posts Rs 254 crore premium income
TATA AIG Life Insurance Company Ltd has earned a premium income of Rs 254 crore for the financial year ended March 31,2004, an increase from a premium income of Rs 72 crore in the corresponding period, the previous year.First year premium income ...
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Sundaram Fin in distribution pact with SBI Life
SUNDARAM Finance Distribution has tied up with SBI Life to distribute the latter's life insurance policies. Sundaram Finance Distribution is a wholly-owned subsidiary of Sundaram Finance Ltd. According to a joint press release, the Sundaram ...
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GENERAL INSURANCE
TCIL makes Rs 12 cr from travel insurance
TRAVEL insurance has emerged as the fastest growing business at Thomas Cook India Ltd (TCIL) with the company notching up business worth Rs 12 crore, two years after its launch. The insurance business is expected to hit the Rs 100-crore mark ...
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Mediciti, National Insurance plan new health package
MEDICITI Hospitals, National Insurance Company and the Pune-based MD India Health Care have joined hands to offer an attractive health insurance package, which would also cover pre-existing illnesses with certain conditions. The premium for the ...
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PUBLIC SECTOR BANKS
SBH targets `nil' net NPAs
BUOYED by its successful cutback of net non-performing assets (NPAs) to 0.65 per cent during the fiscal ended March 31, 2004 from a high of 3.25 per cent in the previous year, State Bank of Hyderabad has now chalked out an ambitious target of ...
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CREDIT MARKET
ICICI Bank still not a member of Credit Information Bureau
WHILE foreign banks like Citibank, Standard Chartered Bank and HSBC are now eager to share customer data with the newly launched Credit Information Bureau of India Ltd (CIBIL), ICICI Bank, the largest retail lender in the country, is yet to ...
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CO-OPERATIVES
UCBs seek relief from asset impairment norm
THE 2,000-strong Urban Cooperative Bank (UCB) sector is seeking relief from the `stifling' 90-day asset impairment norm. Though aimed at ensuring a healthy asset portfolio in the long run, the new norm is threatening to drag hundreds of UCBs down ...
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Cross Currency Rates
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