The Hindu Business Line : Saturday, October 29, 2005

Rupee unchanged; bond prices fall
MUMBAI: The rupee was unchanged against the greenback on Friday as supply of dollars matched demand. The rupee opened at 45.10/12 and touched an intra-day low at 45.15. It, however, appreciated to close at 45.08, the same level as ... More

FINANCIAL PERFORMANCE

Sundaram Finance net up 52 pc in Q2
SUNDARAM Finance Ltd has reported a net profit of Rs 23.25 crore for the second quarter of the current year, up 52 per cent from Rs 15.28 crore in the corresponding period last year. But, the company has pointed out that the results of the two ... More

Bank of India Q2 net up 167 pc on higher income
HIGHER income has enabled Bank of India to report a 166.81 per cent rise in net profit at Rs 132.18 crore for the quarter ended September 30, 2005 against Rs 49.54 crore last year. The profit for the corresponding previous quarter was lower on ... More

United Bank seeks to adjust losses against capital
UNITED Bank of India (UBI) has mooted a proposal to adjust its losses against capital. It has requested the Reserve Bank of India to allow it to go ahead with the recast. UBI, which recorded accumulated losses of Rs 278 crore as on March 2005, ... More

Higher lending offsets hit from Treasury operations
Bank of Baroda Q2 net rises 21 pc
Bank of Baroda's net profit has increased 21.45 per cent to touch Rs 259.07 crore in the quarter ended September 30, against Rs 213.31 crore in the corresponding period of the previous year, due to increase in lending. However, other income ... More

CONSUMER FINANCE

UCO Bank waives processing fee on home, car loans
UCO Bank has announced complete waiver of processing charges on home and car loans till January 31, 2006. In a press release here, the bank said the waiver of processing/administrative charges would be applicable for its housing loan product `UCO ... More

LIFE INSURANCE

New Life Guard policy in Ernakulam dt.
KOCHI: Life Guard Accident Insurance is all set to launch a unique accident insurance policy from November 7 in Ernakulam district in association with the United India Insurance Company and Family Health Plan Ltd. The premium for the ... More

New SBI Life policy
SBI Life Insurance Company Ltd has launched "Dhana Vriddhi" - an investment-cum-protection life insurance policy - that offers guaranteed additions of 5.75 per cent on sum assured, compounded annually. Dhana Vriddhi is a ... More

Bajaj Allianz's new HealthCare Plan
BAJAJ Allianz Life Insurance Ltd has launched a three-year, 6-in-1 HealthCare Plan, which is an insurance plan providing comprehensive health cover with life insurance benefit. According to a press release, the premium in this plan remains the ... More

GENERAL INSURANCE

IOB mulls foray into non-life insurance with Allahabad Bank — May rope in other banks, foreign partner
INDIAN Overseas Bank is seriously considering getting into non-life insurance business jointly with Allahabad Bank. It hopes to rope in a couple of other banks and a foreign partner into this venture. The bank believes there is a good business ... More

PRIVATE BANKS

South Indian Bank sheds Rs 600-cr high-cost deposits
SOUTH Indian Bank has reduced its high-cost deposits by Rs 600 crore and raised Rs 150 crore of low-cost deposits, the bank's Chairman, Dr V.A. Joseph, told Business Line recently. While the effect of this on the margins is yet to be ... More

PUBLIC SECTOR BANKS

SBT extends festival offer on loans
STATE Bank of Travancore (SBT) has extended till November 15 its festival offer of reduced rates of interest on housing and car loans. The margin for car loans has also been reduced to five per cent of the invoice value plus road tax and ... More

FINANCIAL INSTITUTIONS

APSFC eyes `Universal Bank' status
APSFC has enabled over Rs 12,500 crore of capital investments in the State through more than 85,000 industrial units. More

CREDIT CARDS & DEBIT CARDS

SBI launches pre-paid cards on mChq platform
STATE Bank of India jointly with Visa International launched pre-paid cards on the mChq platform, which is a mobile-to-mobile payment option. This card will be first introduced for Airtel subscribers at IIT-Bombay, Powai. It will enable ... More

REGULATORY BODIES & RULINGS

IRDA public information officer
HYDERABAD: With the Right to Information Act, 2005 coming into force with effect from October 13, the Insurance Regulatory and Development Authority (IRDA) has designated its Executive Director (Administration), Ms V. Vedakumari, as its ... More

EVENTS

YSR directs officials to do groundwork for ADB meet
The Government of India would meet the entire cost of the event, while the State Government would look after reception and cultural activities. More

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