The Hindu Business Line : Thursday, September 15, 2005

Rupee in range; securities gain
MUMBAI: The rupee gained slightly against the dollar on Wednesday. It opened at 43.89 and moved between 43.90 and 43.95 during the day. It ended at 43.90, a shade higher from Tuesday's close of 43.91. Dealers said that some dollar buying ... More

INFORMATION TECHNOLOGY

Banking on information systems
In the context of the need to achieve average annual growth rates of 8-10 per cent, the Reserve Bank of India would do well to review investments by banks in information technology. It should constitute a group that evaluates the technologies in use in individual banks and makes suggestions on the required investments for upgrading them within a set period, says A. Vasudevan. More

HOUSING FINANCE

Central Bank cuts home loan rates
MUMBAI: Central Bank of India has reduced interest rates on home loans by 50 basis points with effect from September 1, 2005. According to a press release, the bank hopes to garner a higher market share in the home loan market during ... More

LIFE INSURANCE

LIC to focus on infrastructure stocks
LIFE Insurance Corporation, which plans to invest Rs 10,000 crore more in shares, will focus on infrastructure stocks, said the Chairman, Mr A.K. Shukla. LIC has decided to raise its exposure to equity from 8 to 10 per cent. Mr Shukla, ... More

PRIVATE BANKS

New DCB chief
DEVELOPMENT Credit Bank has appointed Mr Gautam Vir as the Managing Director and Chief Executive Officer, with immediate effect.

PUBLIC SECTOR BANKS

SBT on deposit mobilisation drive
AS part of its growth strategy, State Bank of Travancore (SBT) is working on a resource mobilisation initiative to get deposits from local institutions in the Government and private sector, said Mr O.P. Bhatt, Managing Director, SBT. Bank ... More

`SBI recruiting from campuses'
STATE Bank of India is now screening students for placement as `probationary officers' via the campus. Top secrecy is being maintained about this exercise at this juncture. Even the SBI staff claim to be unaware of this development. A ... More

State Bank of Hyderabad launches Net-banking
AIMED at increasing the banking convenience levels to thousands of its customers, both retail and corporate, the State Bank of Hyderabad (SBH) has announced the launch of retail Internet banking and core banking facilities here on ... More

UCO Bank to vend Templeton products
FRANKLIN Templeton is tying up with UCO Bank to distribute its funds. The two are expected to formalise a deal on Thursday. Templeton aims to utilise the Kolkata-based bank's branch network to tap new customers. A number of branches will be ... More

GOVT BONDS

T-bills auction fully subscribed
THE auctions of the 91-day treasury bill and the 364-day treasury bill on Wednesday were fully subscribed, according to an RBI press release. The notified amount for the 91-day treasury bill was Rs 4,000 crore, of which Rs 3,500 crore was ... More

CORPORATE BONDS

Banks wary of low yield, long tenor — Oil bonds find few takers
WITH credit remaining the focus, banks have shown little interest in picking up oil bonds from the secondary markets. These bonds were issued to oil companies last week as part of the Government's liquidation of the oil pool deficit. The bonds ... More

REGULATORY BODIES & RULINGS

IRDA moots stand-alone agri-insurance companies
THE Insurance Regulatory and Development Authority (IRDA) has suggested setting up of standalone agriculture insurance companies with reduced capital requirements of Rs 25-40 crore. Currently, the minimum capital requirement for life and ... More

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