The Hindu Business Line : Wednesday, October 05, 2005

SBI, Dabur sign MoU to finance farmers
STATE Bank of India and Dabur India Ltd have entered into an agreement for financing farmers for production of medicinal and aromatic crops under contract farming arrangements. An MoU in this regard has been signed by the Chief General ... More

FINANCIAL SERVICES

Mahindra Finance ties up with HPCL

Mahindra to get access to HPCL's rural distribution network.

Benefits to HPCL include credit being extended to its customers. More

FOREX

Tech stocks drive Sensex past 8,800 — Rupee touches 9-month low
TECHNOLOGY majors such as Wipro, Infosys and Satyam Computers led the rally in stock prices on Tuesday as the rupee touched a nine-month low against the US dollar, raising expectations of higher earnings for IT companies. The better results ... More

Rupee at 9-month low against dollar
MUMBAI: The rupee dipped to a nine-month low against the greenback on Tuesday due to heavy demand from importers and in tandem with the global fall of currencies against the dollar. The domestic currency opened at 44.11/12 and fell ... More

NBFCS

NuCent Finance to exit from finance biz; to change name
AS part of its restructuring exercise, NuCent Finance Ltd, a member company of the Pressman Group, has exited from the financial services business. The company has informed the Reserve Bank of India of the decision and now intends to diversify ... More

LIFE INSURANCE

ING Vysya Life declares bonus
ING Vysya Life Insurance Company Ltd has declared a bonus for all its participating policy holders. An ING release said that the bonus rates were based on long-term stable returns projected by it. Investments are predominantly in Government ... More

GENERAL INSURANCE

Motor claims processing goes online — Audatex signs pact with 2 pvt insurers
AUDATEX, a division of the ADP group of US, has tied up with Tata-AIG and Bajaj Allianz for online processing of motor insurance claims. Speaking at a press conference here on Tuesday, Mr Pankaj Kapoor, Chief Executive Officer, Audatex, said ... More

FINANCIAL POLICY

The Greenspan debate continues
THE debate on the Greenspan legacy continues. Is he the greatest central banker ever or is his reputation vastly overinflated? There are enough supporters for the Greenspan cause. In fact, the recent central bankers' conference at Jackson Hole ... More

CREDIT RATING

Stable outlook
Mr R. Ravimohan (left), MD, Crisil, and Mr Thomas Schiller, Executive MD, Standard & Poor's, releasing an S&P-Crisil report at a press conference in Mumbai on Tuesday. S&P has taken a stable outlook on the Indian banking ... More

PRIVATE BANKS

South Indian Bank plans to raise capital
THE South Indian Bank has decided to raise its capital base and has constituted a sub-committee of the Board to ascertain the amount of capital to be raised and the manner in which it is to be undertaken. The Chairman of the Bank, Dr V.A. ... More

PUBLIC SECTOR BANKS

Corporation Bank launches retail sale of gold coins
CORPORATION Bank has launched the retail sale of gold coinsLaunching the `Centenary Gold Coin' in Mangalore on Tuesday, Mr V.K. Chopra, Chairman and Managing Director of the bank, said, "Corporation Bank is the first among the public sector banks ... More

INTEREST RATES

SBH hikes NRE, FCNR deposit rates
HYDERABAD: State Bank of Hyderabad has increased interest rates on NRE and FCNR term deposits. The new rates came into effect from October 1. ... More

MERGERS & ACQUISITIONS

Federal Bank, LKB boards meeting today
THE boards of Federal Bank Ltd and Lord Krishna Bank meeting in Mumbai on Wednesday are expected to discuss an acquisition and merger proposal. According to sources close to the banks, the boards, meeting separately, are expected to take an ... More

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