The Hindu Business Line : Friday, November 11, 2005

ICICI Bank raises $500 m thru' overseas bond issue
ICICI Bank has raised $ 500 million through an international bond offering. The five-year fixed rate bond has a coupon of 5.75 per cent, which is a spread of over 130 basis points over five-year US treasuries, equivalent to asset swap spread of ... More

AWARDS & HONOURS

Union Bank gets Golden Peacock award
UNION Bank of India has been awarded the "Golden Peacock National Training Award 2005'' in the category of `training provider and employer' by the Institute of Directors, New Delhi. The Chairman and Managing Director of the bank, Mr Cherian ... More

FOREX

Rupee firms up; securities rise
MUMBAI: The rupee edged up slightly against the US currency on the back of investment-related dollar inflows into the market. The domestic currency opened at 45.83/84 and touched an intra-day high of 45.72/73. It, however, closed at ... More

GENERAL INSURANCE

Surge in purchase of liability cover by IT, BPO entities
PURCHASE of liability insurance cover by information technology companies and business process outsourcing (BPO) entities has surged over the last two years. Mr Andrew Clarke, Executive Vice-President, Corporate Broking, Aeon Global Insurance ... More

FOREIGN DIRECT INVESTMENT

FDI boost: Transfer of financial services co shares may come under automatic route
AS part of a comprehensive move to liberalise the current foreign direct investment (FDI) regime, the Government is proposing to bring transfer of shares of financial services companies from resident owners to foreign investors under the ... More

RBI & OTHER CENTRAL BANKS

RBI shuffles Deputy Governors' portfolios
THE Reserve Bank of India has shuffled the portfolios of the Deputy Governors on Thursday. Dr Rakesh Mohan will be in charge of Department of Economic Analysis and Policy, Department of Statistical Analysis and Computer services, Monetary Policy ... More

RBI to implement revised credit deposit ratio norms
THE Reserve Bank of India has decided to implement the revised parameters of monitoring credit deposit ratio (CDR) of banks at different levels and set up special sub-committees in districts having CDR less than 40. This was as per the ... More

PRIVATE BANKS

ICICI Bank to see more growth in private banking portfolio
THE country's largest private sector bank, ICICI Bank, is planning to extend its private banking (targeting high net worth clients) services to more cities and is also looking at doubling its assets under management, said senior officials of the ... More

PUBLIC SECTOR BANKS

Banks not to charge fee from exporters
IN a move to accord relief to exporters, commercial banks will shortly discontinue charging processing fees while extending credit to exporters. The central bank will issue guidelines to the effect soon, said Mr Shree Kumaran, Incharge of ... More

FINANCIAL INSTITUTIONS

SIDBI sanctions Rs 527 crore as micro credit
SIDBI has so far sanctioned loans worth Rs 527 crore under its micro-credit programme. These loans have been given to 22 lakh beneficiaries through some 55 micro finance institutions, the bank's Chairman and Managing Director, Mr N. ... More

INTEREST RATES

Panels to submit report on deregulation of rates soon: says IBA
INDIAN Banks' Association (IBA) has set up two technical groups that will weigh the possibility of deregulating rates, including that paid by banks to savings account holders. The two technical groups, set up about a month ago, comprise 14 ... More

`Rise in repo, reverse repo rates may restrict inflation'
DESPITE the volatility in the oil prices, the Reserve Bank of India on Thursday maintained that the increase in repo and reverse repo rates would restrict inflation to 5-5.5 per cent. Speaking to newspersons on the sidelines of the Mekong ... More

NON-PERFORMING ASSETS

Govt's move on FDI — Actis may take part in asset reconstruction
THE Government's decision to permit 49 per cent FDI in the equity capital of asset reconstruction companies has caused ripples of sorts with market watchers pointing out that several foreign financial firms are likely to enter this domain ... More

`FDI will enhance liquidity for ARCs'
THE Government's nod for 49 per cent FDI in asset reconstruction companies (ARCs) will attract specialist agencies from overseas, the Indian Banks' Association has stated. The specialist agencies may well include certain foreign banks, which ... More

SECURITISATION

Act to be amended for creating market for securitised debt
IN a bid to create a vibrant secondary market for securitised loans, the Union Cabinet on Thursday gave its approval to amend the Securities Contract (Regulation) Act (SCRA), 1956, to provide for a definition of "securitised debt" under the ... More

INTERVIEW

`Banks may explore pref shares option'
THE Indian Banks' Association (IBA) has quite a few items on its agenda, according to Mr H.N. Sinor, CEO. These pertain to know-your-client (a key ingredient of anti-money laundering norms), Basel II preparedness in view of the approaching ... More

PEOPLE

Usha Thorat takes over as RBI Deputy Governor
MS Usha Thorat took over as Deputy Governor of the Reserve Bank of India on Thursday. Ms Thorat, who has been Executive Director of RBI since April 2004, is the fourth Deputy Governor in RBI now. Her appointment is for five years. She ... More

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