Business Daily from THE HINDU group of publications
Saturday, April 04, 2009
ePaper | Mobile/PDA Version | Audio | Blogs
Business Daily from THE HINDU group of publications Saturday, April 04, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
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MONEY & BANKING FOREX: Forex accounting relief only for corporates ICAI asks non-corporates to continue adopting AS-11. New Delhi, April 3 Corporates may have got a huge relief from the Government’s generosity in relaxation of application of an accounting standard on foreign exchange rate differences. ... GENERAL INSURANCE: GIC Re offers profit sharing to insurers To encourage cos underwrite risks more prudently. Mumbai, April 3 In a bid to encourage general insurance companies to underwrite risks on a more prudent basis, the national reinsurer General Insurance Corporation of India (GIC Re) has ... OUTLOOK: Karnataka Bank sees Rs 39,000 cr biz Karnataka Bank is eyeing a business turnover of Rs 39,000 crore for 2009-10, according to Mr Ananthakrishna, Chairman and Chief Executive Officer. This included total deposits of Rs 24,000 crore and advances of Rs 15,000 crore, he said. With ... PRIVATE BANKS: Dhanalakshmi Bank to expand The Reserve Bank of India has granted approval to Dhanalakshmi Bank to open, during the calendar year 2009, 66 branches and 200 offsite ATMs across the country, besides 5 regional offices in Kerala and 2 central processing centres at Thrissur ... CO-OPERATIVES: NCDC disburses Rs 309 cr in Kerala The National Cooperative Development Corporation (NCDC) has disbursed a total of Rs 308.70 crore to various co-operative agencies in Kerala in 2008-09. Among the apex cooperatives, Kerala State Cooperative Federation for Fisheries Development ... INTEREST RATES: Axis Bank, BoR cut lending rates Two private sector banks, Axis Bank and Bank of Rajasthan, cut their lending rates with effect from April 1. Axis Bank cut its benchmark prime lending rate by 50 basis points to 15.25 per cent from 15.75 per cent. The cut will impact corporate ... FINANCIAL SERVICES: ‘Impact on remittance flows may be marginal’ Mumbai, April 3 Remittance service providers operating in India are expecting only a marginal impact of the global economic slowdown on inward remittances as the country continues to be a low-cost source of skilled human capital for the ... TECHNOLOGY: FSS plans Rs 250-cr expansion To deploy around 5,000 ATMs, 2 lakh PoS machines. Chennai, April 3 Chennai-based Financial Software and Systems (FSS) has chalked out a $50-million (Rs 250 crore) expansion plan to deploy around 5,000 ATMs and 2 lakh point of sale (PoS) ... FINANCIAL SERVICES: Deloitte’s arm expanding in Kolkata Kolkata, April 3 Deloitte & Touche Tohmatsu is looking at expanding its business in Kolkata by launching a more diverse spectrum of services within the next two to three years, according to Mr Shanto Ghosh, Senior Director and ... CREDIT CARDS & DEBIT CARDS: Biometric cards for Reliance Fresh vendors Union Bank, FINO to launch pilot project in Gurgaon. Mumbai, April 3 Union Bank of India and FINO have enrolled 1,600 vegetable and fruit vendors who are regular suppliers to Reliance Fresh. These vendors will soon be issued biometric cards ... IPOS: United Bank likely to go for IPO in 6 months Kolkata, April 3 United Bank of India plans to go in for an initial public offer in six-to-nine months with an equity issue of Rs 50-60 crore, according to the bank’s Executive Director, Mr T.M. ... TRADE & LABOUR UNIONS: Insurance unions reject wage hike offer Kochi, April 3 Employees unions in the four public sector general insurance companies have rejected the management offer of 12 per cent increase in ... SECURITISATION: SKS Microfinance , YES Bank tie up ... CONSUMER FINANCE: BoI offers moratorium scheme for Nano loans Bank of India, which is not one of the preferred lenders for Tata’s Nano, has come out with a moratorium scheme for auto ... FOREX: Forex reserves drop by $1.5 b Mumbai, April 3 The country’s foreign exchange reserves fell by $1.5 billion to $252.326 billion for the week ended March 27, according to data released in the Reserve Bank of India’s weekly ... Comments & Letters to the Editor to: bleditor@thehindu.co.in Subscribe to: Business Line |
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