The Hindu Business Line : Saturday, July 02, 2005

Investments account for 41 pc of forex accretion
FOREIGN investment accounted for 41 per cent of the accretion to the country's forex reserves during the 2004-05 followed by external commercial borrowing, which represented 20.6 per cent. According to the figures released by the RBI, foreign ... More

Rupee firms up; bonds weaken
MUMBAI: The rupee gained on Friday due to good dollar inflows and reports on current account surplus for the January-March period. This helped the rupee close higher, though the market was reasonably quiet in the early part of the day, ... More

INSURANCE

HSBC, Tata-AIG tie-up to offer life, personal plans
HSBC Bank has set its eyes on personal and business insurance in collaboration with the Tata-AIG Life and General Insurance companies. The bank has on offer a range of life and non-life insurance schemes in the personal insurance segment. The ... More

FINANCIAL PERFORMANCE

Shriram group cos see jump in profits
FOUR companies of the Chennai-based Shriram group have reported over 30 per cent increase in net profits for the last year over the previous year. All the four are non-banking finance companies, but Shriram Investments Ltd and Shriram Transport ... More

CONSUMER FINANCE

Andhra Bank in pact with IPE for education loans
ANDHRA Bank has tied-up with the Institute of Public Enterprise (IPE), a city-based premier business school, for offering education loans to the students of IPE at concessional interest rates. An agreement to this effect was signed between the ... More

PRIVATE BANKS

ICICI Bank unveils online PPF scheme
ICICI Bank on Friday launched an online Public Provident Fund (PPF) account, which the customers can access easily. The bank has been authorised to collect funds for PPF at branches mandated by the Ministry of Finance. It can also receive ... More

PUBLIC SECTOR BANKS

PNB opens office in Dubai
PUNJAB National Bank (PNB) has opened its first representative office in Dubai. The bank's Chairman and Managing Director, Mr S.C. Gupta, inaugurating the Dubai office, said PNB wasin the forefront of serving the NRI community. The bank had ... More

Syndicate Bank to trim excess SLR investments
THIS year again, many banks are having to book depreciation in the first quarter of the year, when they transfer securities from `available for sale' category to `held to maturity'. But Syndicate Bank finds itself an exception. In April, the ... More

CREDIT MARKET

Govt working on special credit plan for SMEs
THE Finance Ministry is working on a special credit plan for small and medium sector enterprises and will announce the policy this month. Speaking at the centenary celebrations of the public sector Canara Bank here on Friday, the Union Finance ... More

Venture capital investment no longer priority lending
COMMERCIAL banks will soon be short of one investment avenue to meet their priority sector lending target of 40 per cent. In a press release, the Reserve Bank of India said that investment by banks in venture capital will not be eligible for ... More

SBI launches trade finance, other schemes
STATE Bank of India has launched a new trade finance scheme exclusively targeted at traders and people in the services sector. The scheme is to be first launched in Kerala and later in Vijayawada before it is rolled out into the rest of the ... More

PNB disburses loans in Malappuram
KOCHI: Punjab National Bank has disbursed retail loans amounting to Rs 3.23 crore to 109 beneficiaries at the retail credit camp conducted at Malappuram. Speaking on the occasion, Mr B. K. Jayaprakasham, Regional Manager, Kozhikode, said ... More

PEOPLE

Ms Daruwalla is CMD, Central Bank of India
THE new Chairman and Managing Director of Central Bank of India is Ms H.A. Daruwalla. Prior to taking charge as CMD of Central Bank of India, Ms Daruwalla was Executive Director of Oriental Bank of Commerce. Ms Daruwalla, a chartered ... More

A.K.Shukla is LIC Chairman
MR A.K Shukla took over as Chairman ofthe Life Insurance Corporation on Friday. Mr Shukla, earlier LIC Managing Director, has been in-charge of the corporation since Mr R.N Bharadwaj retired as Chairman on May 31, 2005. Mr Shukla joined LIC in ... More

On Syndicate Bank board
MANGALORE: Mr Dinakar S. Punja, President of Syndicate Bank Officers' Association (SBOA) and Executive Committee member of All-India Bank Officers' Confederation, has been appointed Director of Syndicate Bank for a period of three years by ... More

New Corporation Bank GM

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