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Thursday, April 21, 2005

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FINANCIAL SERVICES


Anagram broking firm opens Kadapa branch
ANAGRAM Stock Broking Ltd, part of the Rs 2,000-crore Lalbhai Group of Companies, has set up a branch office in Proddattur in Kadapa, the home district of Chief Minister, Dr Y.S. Rajasekhara Reddy, and a centre for gold trading. This is the ... More

INSIGHT


End of the global monetary tightening?
BY ALL accounts, it seems the week ended April 15, will be critical for global financial markets in the immediate future. It may have thrown up enough hints about the course the major financial markets — be it ... More

FOREX


Rupee in tight range; bond prices move up
MUMBAI: The rupee traded in a tight range on Wednesday, ending at 43.75/76, almost unchanged from Tuesday's close of 43.76/77 against the US dollar. Dealers said there were very few speculative trades in the forex market due to concerns ... More

FINANCIAL PERFORMANCE


Vijaya Bank annual net down 7.5 pc; to pay 10 pc final
VIJAYA Bank has reported net profit of Rs 380.57 crore for the year ended March 2005, down 7.5 per cent from Rs 411.31 crore recorded in 2003-04. Vijaya Bank is the first bank to report its annual results for the third year in succession. The ... More

CONSUMER FINANCE


SBT `tourism special' loan scheme
THIRUVANANTHAPURAM: State Bank of Travancore (SBT) has launched a `tourism special' loan scheme for the benefit of hotels, tour operators, pilgrimage conductors, and eco-tourism operators. The loan is available for construction and ... More

LIFE INSURANCE


When insurers make their pitch
CHINTAMANI, the mascot of the middle class, has become a household name. Even kids are demanding toys modelled around his scraggly old figure. Thanks to him, ICICI Prudential now enjoys a brand recall of 92 per cent next to LIC's 97 per ... More

Tata AIG premium income doubles
TATA AIG Life's total premium income has grown by 101 per cent taking it to Rs 494.6 crore for the year ended March 31, 2005, compared to Rs 246.2 crore last year. Tata AIG has covered 4,27,000 lives taking the total number of lives covered ... More

IRDA to allow tie-ups for micro-insurance products
THE Insurance Regulatory Development Authority (IRDA) will allow a life insurance company to tie up with a non-life insurance company to spin-off micro-insurance products. It will also introduce regulations to promote micro-insurance and ... More

HUMAN RESOURCES


`Class III RBI employees entitled to promotion'
CLOSE to 10,000 clerical category employees of the Reserve Bank of India could be in for a bonanza if a recent order of the Central Government Industrial Tribunal (CGIT), Kolkata, is anything to go by. The Tribunal verdict of March 10 enjoins ... More

PUBLIC SECTOR BANKS


SBI opens branch in Lakshadweep
STATE Bank of India has opened its first branch in the Lakshadweep island of Kavaratti. Inaugurating the branch, Mr Madhup Vyas, Collector-cum-Development Commissioner, expressed his happiness about the entry of the largest public sector bank ... More

RBI wants action on Ombudsmen' rulings
THE Reserve Bank of India has directed the customer service committees of commercial banks to take up complaints on which the Banking Ombudsmen have already given some ruling. The RBI issued this guideline as it was seen that there were delays ... More

CORPORATE BONDS


IndusInd Bank may raise more funds
INDUSIND Bank, which has recently raised Rs 170 crore through a bond issue, plans to source more funds. The bank had mobilised Rs 170 crore in its tier-II bond issued in March. "Even after this issue, we still have scope to raise more tier-II ... More

MERGERS & ACQUISITIONS


PSB mergers: Facilitating amendments to Acts likely
The Finance Ministry feels that the absence of a clear and elaborate definition of `banking institution' in the various legislations would come in the way of bank mergers. More


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Looking back
Apr. 10-Apr. 16
Forex reserves rise by $297 m

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