The Hindu Business Line : Saturday, May 21, 2005

Federal Bank mulls GDR issue
FEDERAL Bank is contemplating a GDR (Global Depository Receipt) issue, its Chairman and CEO, Mr M. Venugopalan, has said. Growth in business volume and size, Mr Venugopalan perceives, would be crucial for the Alluva-based bank to establish its ... More

INSIGHT

What's spooky about keyman
S. Murlidharan on the issues surrounding keyman insurance More

Pvt banks as RRB sponsors seems a good bet
THE bill to repair the rural credit delivery system is bulging and can be kept down if parts of it can be lopped off. New Delhi and the State governments have neither the funds nor the desire for a clean-up. The correction gets shunted between ... More

FOREX

Rupee in range; securities rally
MUMBAI: The rupee marginally appreciated against the dollar on Friday on supplies but was largely range-bound. It closed at 43.44/55 as there were corporate inflows in the market. The domestic currency had closed at 43.47/48 on ... More

INFORMATION TECHNOLOGY

RTGS to cover 10,000 bank branches by 2006
THE Reserve Bank of India has set a target for providing the real time gross settlement coverage to 10,000 branches and 500 centres by March 2006. Currently, 4,917 branches and 500 centres have RTGS. This system sees transactions close to Rs ... More

FINANCIAL PERFORMANCE

SBI net jumps 17 pc; to pay Rs 12.5 dividend
RIDING high on the 16.94 per cent jump in net profit at Rs 4,304.52 crore in 2004-05 from Rs 3,681 crore in 2003-04, the board of directors of State Bank of India, at a meeting here on Friday, recommended 125 per cent dividend (Rs 12.5 per share) ... More

BoB net down 35.24 pc in Q4
BANK of Baroda (BoB) recorded a net profit of Rs 101.04 crore for the fourth quarter of 2004-05, a 35.24 per cent fall from Rs 156.02 crore in the same period last year, due to provision for shifting of securities to held-to-maturity (HTM) ... More

Dena Bank Q4 net loss at Rs 39 cr
DENA Bank recorded a net loss of Rs 39.20 crore for the fourth quarter ended March 31, against a net profit of Rs 58.39 crore in the year-ago period due to fall in profits on sale of Government securities and provision for wage revision. Total ... More

CONSUMER FINANCE

GE Money to expand presence
GE Money, the new global brand name for GE Consumer Finance, has embarked on a major retail finance expansion and will increase its presence from 118 branches in 50 cities to 228 branches across 110 cities. The company is investing Rs 45 crore ... More

GENERAL INSURANCE

Capital infusion on cards
Mr Takaaki Tamai (left), CEO, Millea Asia Pte Ltd, and Mr Ajit Narain, MD & CEO, Iffco-Tokio General Insurance Co, at a press conference in the Capital on Friday. ... More

RBI & OTHER CENTRAL BANKS

Derivatives: RBI asks players to use rupee benchmarks
THE Reserve Bank of India has asked banks, financial institutions and primary dealers to use rupee benchmarks for interest rate derivatives but has offered a transition period of six months for using MIFOR as a benchmark. RBI had allowed these ... More

PUBLIC SECTOR BANKS

Union Bank agri-clinics scheme
MUMBAI: Union Bank of India has launched a scheme under which it will finance agricultural graduates to set up agri-clinics in the rural areas. These clinics will provide expert services to farmers on cropping practices, technology ... More

SBI may buy out UTI MF sponsors
State Bank of India, one of the four sponsors of UTI Mutual Fund, will consider proposals to buy out the others if the offer is right and the situation is conducive for such a move, Mr Purwar hinted. The other sponsors of the country's largest ... More

SBI readies plans to lure IMD redemptions
STATE Bank of India is likely to offer a special deposit scheme, chiefly through its overseas offices, with a view to attracting a significant portion of the India Millennium Deposits that are expected to come up for redemption shortly. The ... More

IPOS

Iffco-Tokio may opt for fresh infusion of capital — Net up 54 pc; plans public issue
IFFCO-Tokio General Insurance Co Ltd (ITGI), a 74:26 joint venture between Iffco and Tokio Marine and Nichido Fire, may opt for fresh infusion of capital in this fiscal to manage its business growth. The company's board, which met here on ... More

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