The Hindu Business Line : Thursday, February 17, 2005

Rupee recovers; securities dull
MUMBAI: The rupee recovered some of its losses to close at 43.75 per US dollar on Wednesday. The Indian unit has gained about 4 paise on Tuesday's close of 43.82/83. The rupee held firm and traded at 43.78/80 levels for most part of the ... More

GENERAL INSURANCE

EOUs seek Govt nod to take cover from foreign insurers
THE 100-per cent export-oriented units (EOUs) have asked the Union Government to permit them to take product liability insurance cover from foreign insurance companies. They want this permission because "Indian insurance companies charge at ... More

FOREIGN DIRECT INVESTMENT

Insurance unions opppose FDI hike move
INSURANCE employees opposed the Union Government's proposal to lift the cap on foreign equity stake from the current level of 26 per cent and have threatened to intensify their agitation against the move. Briefing reporters here, Mr Amanullah ... More

RBI & OTHER CENTRAL BANKS

Banks to adopt uniform credit risk norms from 2007
MOVING closer to the adoption of Basel II and international best practices, the Reserve Bank of India has said all banks in the country should adopt a standardised approach for credit risk and a basic indicator approach for operational risk, ... More

PUBLIC SECTOR BANKS

Govt plans to trim holding in all public sector banks to 51% — Spate of equity offerings on cards
THE trickle of fresh equity offerings by public sector banks (PSBs) during the current fiscal could turn into a deluge in the coming financial year. In a move that could well spark off a cloudburst of bank offerings, the Government is ... More

Andhra Bank branches for senior citizens
These branches would have specially trained officers and staff. They would also have small clinics with general physicians who would attend to the general problems of the customers and offer value-added services such as monitoring of blood ... More

SBI may shift gilts to HTM category
`Anything that SBI does will certainly impact the market because of its sheer size. Once SBI makes the transfer, a lot of counters for those securities will become illiquid'. More

Andhra Bank in pact with ICFAI for education loans
CLOSE on the heels of emerging as the second leading Indian bank in educational loans, Andhra Bank has entered into another alliance with the ICFAI University for extending education loans to its students at concessional interest rates. The ... More

New schemes from SBH
HYDERABAD: State Bank of Hyderabad (SBH) has announced the launch of two new schemes - `Grahak Mitra' and `Drop Box Migration'. A bank release said that the objective of `Grahak Mitra' was to help walk-in customers get personal ... More

Allahabad Bank files draft with SEBI
ALLAHABAD Bank filed on Wednesday a draft red herring prospectus with the Securities and Exchange Board of India as part of its exercise to enter the capital market with an offer of public issue of equities, according to a press release issued by ... More

NON-PERFORMING ASSETS

Higher provisioning for NPAs under 90-day norm — Bankers seek extension of I-T relief
Bankers' real worry is the status of State government-guaranteed securities. More

TRADE & LABOUR UNIONS

Bank staff in Kerala to demonstrate
THIRUVANANTHAPURAM: The Bank Employees Federation of India-Kerala (Befi-Kerala) is planning to hold demonstrations and a sit-in on Friday in protest against the Centre's move to allow mergers and acquisitions of public sector banks. The ... More

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