MONEY & BANKING
FOREX
Rupee tad weaker
MUMBAI: The rupee closed marginally weaker at 46.13/14 against the greenback on Wednesday, as against Tuesday's close of 46.10/12. ``The positive news on the transaction tax front did not help the rupee substantially in spite of the fact ...
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FINANCIAL PERFORMANCE
IDBI Bank records 64-pc jump in net
`Despite the rise in bond yields, the bank has delivered good results due to its focus on core earnings and a high quality portfolio.'
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ING Vysya Bank posts Rs 20-cr loss in Q1
ING Vysya Bank has reported a loss of Rs 20.04 crore in the first quarter of this fiscal, against the profit of Rs 33 crore in the first quarter of the last financial year. The bank has reported a loss despite making an operating profit of Rs ...
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SOFTWARE
LVB deploys Newton for tech upgrade
NEWTON, the core banking solution from ICICI Infotech, has gone live in three branches of Lakshmi Vilas Bank in Chennai. Newton allows customers to use any branch as an ATM (automated teller machine). Customers of the three branches can use any ...
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LIFE INSURANCE
Sun Life may hike stake in insurance venture
IN A bid to take advantage of the foreign direct investment (FDI) norms announced in the Union Budget, Sun Life Financial Inc plans to to hike its stake in Birla Sun Life Insurance. The Finance Minister had announced a lift in the sectoral cap ...
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GENERAL INSURANCE
National Insurance sees big scope in medical cover biz
NATIONAL Insurance Company plans to concentrate on business opportunities in personal insurance, especially medical insurance, said its Chairman-cum-Managing Director, Mr H.S. Wadhwa. At a press conference on Wednesday, Mr Wadhwa said that ...
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DEBT MARKET
Bond market up as transaction tax goes — Inflation fears cap rally
EVEN as news of debt deals being exempted from the transactions tax were welcomed by dealers in the debt market on Wednesday, underlying apprehensions of rising inflation and global interest rates capped the rally in bond prices. Bond prices, ...
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HUMAN RESOURCES
The SIB way of motivating managers
WHEN the top management of the Kerala-based South Indian Bank Ltd (SIB) invited its 400-odd branch managers for a discussion they had no inkling that the management would identify the `star' performers and honour their achievement. The branch ...
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FOREIGN BANKS
HLL, Stanchart in pact for online trade banking
STANDARD Chartered Bank has signed a `Trade and Foreign Exchange Management Lead Bank Arrangement' with Hindustan Lever Ltd, whereby it will process the bulk of the trade transactions of HLL and its group companies in India through its electronic ...
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CORPORATE BONDS
ICRA cuts HMT bond ratings
BANGALORE: ICRA has cut its rating assigned to HMT Ltd's Rs 159-crore bond issue to LBB (under rating watch) following a delay in interest payment that was due in April, an ICRA statement said. The agency had earlier assigned LAAA(SO) ...
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CREDIT MARKET
REPCO Bank loan scheme for schools
CHENNAI: REPCO Bank on Tuesday announced a loan scheme at a concessional interest rate for schools that wished to replace their thatched roofs with tiled/asbestos/concrete ones. The upper limit of a loan under the scheme is Rs 5 lakh, ...
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CREDIT CARDS & DEBIT CARDS
Hero Honda, SBI venture for co-branded card
HERO Honda has launched a co-branded credit card with State Bank of India (SBI) in Bangalore. SBI, which has more than 1.4-million subscribers till date, has joined with Hero Honda to develop a credit card especially for the two-wheeler company's ...
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TRADE & LABOUR UNIONS
SBI (Kerala Circle) staff demonstrations
THIRUVANANTHAPURAM: Activists of the State Bank Staff Union (Kerala Circle) joined the parent body, the All-India State Bank of India Staff Federation (AISBISF), in staging demonstrations in front of State Bank of India offices across the ...
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NATURAL CALAMITIES
Kerala farmers on warpath
THIRUVANANTHAPURAM: Farmers' Agitation Council, a confederation of eight farmers' organisations in the State, will organise agitations on a massive scale from August 4 onwards to highlight major demands. Earlier on Tuesday, the Council ...
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Cross Currency Rates
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