The Hindu Business Line : Friday, March 11, 2005

Srei Infrastructure Finance plans $50-m GDR to fund expansion
THE board of directors of Srei Infrastructure Finance Ltd (SIFL), formerly Srei International Finance, which met here on Thursday after the company's extraordinary general meeting, has approved an issue of global depository receipts (GDRs) in the ... More

FINANCIAL SERVICES

Primary dealers set to report losses for the first time
FOR the first time in close to a decade since their inception, primary dealers (PDs) in debt securities will report losses for the financial year ending 2004-05. While most of the leading PDs are bracing themselves for significant losses in ... More

FOREX

Rupee strengthens; securities weak
MUMBAI: The rupee ended seven paise stronger against the greenback, closing at 43.58 on Thursday, as against Wednesday's closing of 43.64/65. The market continues to be flushed with dollar inflows, which swept the domestic currency up ... More

INSURANCE

IRDA forms panel to study Law Commission report
THE Insurance Regulatory and Development Authority (IRDA) has decided to constitute a committee to study the report of the Law Commission on amendments to the Insurance Act and make recommendations accordingly. According to the IRDA Executive ... More

STOCKS

Block deal in HDFC Bank
INDIA Private Equity Fund (Mauritius) on Thursday sold its entire stake of more than 4 per cent in HDFC Bank. The stake was sold by the fund in the open market and Deutsche Securities bought the entire stake. The deal was struck (for 1.16 crore ... More

RBI & OTHER CENTRAL BANKS

RBI sets up board to monitor payment, settlement systems
AS part of its initiatives to strengthen the institutional framework for the payment and settlement systems, the Reserve Bank of India has constituted a Board for Regulation and Supervision of Payment and Settlement Systems (BPSS). An RBI ... More

PRIVATE BANKS

HDFC Bank to pick 5 pc stake in MCX
HDFC Bank has announced its strategic participation in the equity of Multi Commodity Exchange of India Ltd (MCX). HDFC Bank would pick up equity stake of nearly 5 per cent in MCX, reliable sources said. This move will help MCX to cement its ... More

PUBLIC SECTOR BANKS

IOB board okays GDR issue
INDIAN Overseas Bank has informed the BSE that the board of directors of the bank, in its meeting held on Thursday, has considered the agenda of raising of equity capital overseas and listing them in overseas exchanges. It has also approved ... More

Corporation Bank to launch kisan card
CORPORATION Bank will launch `Corp Kisan Card', a debit card for farmers, at Yeshwanthpur-Malur in Kolar district on Sunday. A release said here on Thursday that the bank, in association with VISA International, would launch Corp Kisan Card. ... More

FOREIGN BANKS

HSBC to infuse $180 m in India
THE Hongkong and Shanghai Banking Corporation (HSBC) on Thursday said it will infuse $180 million (around Rs 792 crore) in additional capital before this month-end to expand its Indian operations. Mr Niall S.K. Booker, Group General Manager ... More

CREDIT MARKET

Microcredit lending to SHGs touches Rs 150 crore
MICROCREDIT Foundation of India's (MFI) disbursements to self-help groups have touched the Rs 150-crore mark in one year, the Foundation's Chairman, Dr K.M. Thiagarajan, told a press conference here on Thursday. The non-profit organisation ... More

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