The Hindu Business Line : Friday, May 19, 2006

Canara Bank RRBs may see 21 pc rise in biz
The Canara Bank-sponsored regional rural banks (RRBs) are expected to see a rise in their business by 21 per cent during the financial year 2006-07 at Rs 9,227 crore. A memorandum of understanding signed by the public sector bank with its ... More

INSIGHT

FULL CONVERTIBILITY...
Demands a re-think of policy calculus
After the South-East Asian contagion, stability has been held to be sine qua non for growth, especially in developing countries. In the context of the debate on convertibility, perhaps India needs to re-work the policy calculus: Accumulate res erves, aimed at curbing volatility and enabling growth, or trade stability for higher growth? More

FINANCIAL PERFORMANCE

PNB net up 2.07 pc in '05-06; declares 30 pc dividend
To raise Rs 1,000 crore towards tier-II capital More

Lakshmi Vilas Bank net soars to Rs 22.47 cr
The board of directors of Karur-based Lakshmi Vilas Bank has recommended a dividend of 25 per cent for the 2005-06 fiscal. Commenting on the bank's performance, the CEO and Chairman, Mr R.M. Nayak, said the net profit had soared by over 570 ... More

LIFE INSURANCE

LIC, UTI Bank launch annuity card
LIC has tied up with UTI bank to launch a pre-paid annuity card for disbursement of pension or annuity to customers of the corporation. The card, currently for pensioners in Mumbai, would be a debit card with validity of 10 years. It would be ... More

Birla Sunlife honours KVB divisions
Birla Sunlife, which has a marketing tie-up with Karur Vysya Bank for its life insurance products, on Thursday honoured three top performing divisions — Madurai, Coimbatore and Salem — for standing out among others in ... More

GENDER

Scope to hire non-graduates, housewives
Drive to recruit about 1,000 people in 2006 More

RBI & OTHER CENTRAL BANKS

`RBI Amendment Bill to give more leeway'
Will help central bank to pursue its risk management strategy More

RBI to ensure fairness in charges
The Reserve Bank of India has constituted a working group to formulate a scheme to ensure fairness in bank charges. The group would incorporate the scheme into the Fair Practices Code monitored by Banking Codes and Standards ... More

PUBLIC SECTOR BANKS

Central Bank pays Rs 50-cr dividend
Central Bank of India has paid a dividend of Rs 50 crore to the Central Government for the financial year 2005-06. Ms H.A. Daruwalla, Chairperson and Managing Director of the Bank, presented the dividend cheque to the Union ... More

FINANCIAL INSTITUTIONS

IIFCL plans to raise Rs 10,000 cr in tranches
In discussions with overseas multilateral agencies More

CREDIT MARKET

United Bank to step up exposure to SHGs, NGOs
United Bank of India has proposed to step up its exposure to self-help groups and non-Government organisations as part of its plans on greater financial inclusion. The bank, which has so far disbursed over Rs 40 crore to the SHG/NGO segment, ... More

CREDIT CARDS & DEBIT CARDS

Indian Bank unveils `Bharat Card'
Indian Bank has introduced the `Bharat Card', aimed at people with a monthly gross income of Rs 3,000-7,500. Mr S. Sundara Rajan, Executive Director, said that permanent employees in Government, public sector, private ... More

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