MONEY & BANKING
FINANCIAL SERVICES
Geojit to launch `Platinum Club' in Kochi
GEOJIT Financial Services Ltd will launch `Platinum Club', a new wealth management facility for high net worth investors on Thursday. Addressing a press conference in Kochi, Mr C.J. George, Managing Director of Geojit Securities said: "This is ...
More
FOREX
Rupee weakens; bonds recover
MUMBAI: The rupee closed at 45.4050/41 on Wednesday, about two paise weaker than Tuesday's close of 45.38/39 against the dollar. The forex market saw the rupee weakening from the opening level of 45.32/33 against the greenback. Dealers ...
More
FINANCIAL PERFORMANCE
PNB net up 31 pc at Rs 1,109 cr
PUNJAB National Bank (PNB) recorded a net profit of Rs 1,109 crore for the financial year ended March 31, 2004 compared to Rs 842 crore recorded the previous year, a growth of 31.6 per cent Operating profit touched Rs 3,121 crore against Rs ...
More
HOUSING FINANCE
Insurance cover for UBI home loans launched in Kerala
UNION Bank of India (UBI) has tied up with SBI Life to launch a new scheme for housing loan borrowers. Styled `Union Home Plus', it offers life insurance cover equivalent to the amount of the outstanding home loan, interest included. Mr P. K. ...
More
New chief for PNBHFL
NEW DELHI: Mr K.G. Sathyasingan, General Manager, Punjab National Bank, has taken over as Managing Director of PNB Housing Finance Ltd (PNBHFL), a wholly owned subsidiary of the bank. Mr Sathyasingan aims make PNBHFL a household name and ...
More
LIFE INSURANCE
Allianz Bajaj Life declares bonus
ALLIANZ Bajaj Life Insurance has declared a compounded reversionary bonus on the sum assured up to March 2003-04 on all its regular premium with-profits policies in force. The company's board also declared a "special bonus." A company press ...
More
GENERAL INSURANCE
Reinsurance premiums may turn soft for power sector
INSURANCE renewals for the energy sector are expected to become cheaper with the retreat in reinsurance premiums worldwide. Sources said here that reinsurance rates for the energy sector was down by at least 25 per cent. Currently, premiums ...
More
PUBLIC SECTOR BANKS
SBI opens first Internet shoppe
STATE Bank of India, which had launched the first ever floating ATM in the country, opened the country's first Internet shoppe here on Wednesday. Inaugurating the facility, Mr C. Narasimhan, Chief General Manager, Kerala Circle, said the ...
More
BoI plans to take critical stakes in Asrec, NCDEX
BANK of India (BoI) has proposed to take critical stakes in two emerging institutions — Asrec, the asset reconstruction company promoted by UTI, and NCDEX, the commodity exchange. The bank is looking at holding around 13 per cent in the ...
More
SBI opens branch at Tripunithura
THE State Bank of India opened its 236th branch in the State at Tripunithura on Wednesday. Inaugurating the fully computerised branch, Mr C. Narasimhan, Chief General Manager, Kerala Circle, said the bank hoped to reach out to more people by ...
More
GOVT BONDS
India's holdings of US Govt papers hit $14.6 b
INDIAN institutions and the Reserve Bank of India purchased $2.3 billion worth of US government securities in April in view of the surging foreign exchange reserves. According to data released by the US Treasury, India's holdings of US ...
More
NON-PERFORMING ASSETS
ARCIL proposal to RBI — Allow banks to amortise NPA sale provisioning
The recommendation, if implemented, is expected to greatly benefit debt-ridden institutions such as IFCI, IDBI and Global Trust Bank.
More
MERGERS & ACQUISITIONS
Global majors eyeing Indian banks: KPMG
GLOBAL financial giants are keenly eyeing Indian private sector banks for mergers and acquisition (M&A) opportunities, according to a KPMG research on the private banking and wealth management industry. Terming the Asia-Pacific region as a ...
More
ALLIANCES & JOINT VENTURES
Interworld, Bajaj Allianz pact
NEW DELHI: Interworld, an entertainment and e-commerce company has signed a Memorandum of Understanding (MOU) with Bajaj Allianz. As per the understanding between the two companies, Interworld would be selling the insurance policies both ...
More
PEOPLE
Awarded Yale fellowship
NEW DELHI: Dr Nachiket Mor, Executive Director, ICICI Bank has been awarded the 2004 Yale World Fellowship, Each year, 16 to 18 emerging leaders from diverse backgrounds and nationalities would come together to study critical issues facing ...
More
Cross Currency Rates
Comments & Letters to the Editor to: bleditor@thehindu.co.in
Subscribe to: Business Line
|
RSS Feeds