The Hindu Business Line : Tuesday, November 01, 2005

SBT gets national award
THIRUVANANTHAPURAM: State Bank of Travancore (SBT) has bagged the national award instituted by the Ministry of Small Scale Industries for excellence in lending to the small-scale industries (SSI) sector where it topped all associate banks ... More

FOREX

Rupee ends lower; bond prices dip
MUMBAI: The rupee closed lower against the dollar in a lacklustre market on Monday, ahead of a public holiday for Diwali. The currency opened at 45.12 against the greenback and followed the movement of the euro, said dealers. It ended ... More

FINANCIAL PERFORMANCE

UCO Bank H1 net dives to Rs 143 crore
UCO Bank has reported a net profit of Rs 143 crore for the first half of 2005-06, a whopping Rs 140-crore decline when compared to that in the corresponding period of the previous year. The bank's year-on-year operating profit dropped by over ... More

Magma Leasing net profit rises 37% to Rs 6.51 cr
MAGMA Leasing Ltd, an NBFC with 63 branches across the country, for the quarter ended September 30, 2005, has recorded a 37 per cent increase in profit after tax at Rs 6.51 crore against Rs 4.74 crore in the year-ago period. The Q2 ... More

HOUSING FINANCE

LIC Housing to raise fresh equity this year — Offers loans against approved financial assets
LIC Housing Finance Ltd (LICHF) plans to raise additional funds through the equity route by the end of this fiscal to shore up its capital adequacy ratio. The amount and structure would be decided by the end of the third quarter, according to Mr ... More

LIFE INSURANCE

Exide promoter Raheja to head ING Vysya Life — Completes 50 pc stake buy
EXIDE Industries has completed the acquisition of 50 per cent stake in ING Vysya Life. The company has also carried out a recast of the ING Vysya Life board by inducting four directors. All four nominees are members of the Exide ... More

GENERAL INSURANCE

General insurance officers seek early wage pact
THE General Insurance Officers All India Association has asked the Union Government to implement the much-delayed wage revision without further delay. Even though in LIC, the new wage structure was gazetted on September 5, in general insurance ... More

PRIVATE BANKS

Karnataka Bank extension counter
MANGALORE: Mr Vishwanath Shetty, Judge of Karnataka High Court, inaugurated the extension counter of Karnataka Bank Ltd at Metropolitan Magistrate Court Complex in Bangalore recently, according to a bank release here. Speaking on the ... More

CREDIT CARDS & DEBIT CARDS

IOB ties up with Visa to offer debit cards
INDIAN Overseas Bank (IOB) has tied up with Visa International for its debit card, which it launched today. Mr T. S. Narayanasami, Chairman and Managing Director, IOB, said the bank's customers would be able to use the cards at any ATM that ... More

PUBLIC OFFER

Union Bank finalising public issue plans
UNION Bank of India (UBI) expects to firm up its plans on the proposed public issue in a couple of months and tap the market sometime during January next year. The bank had tapped the capital market with its initial public offering (IPO) of Rs ... More

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