The Hindu Business Line : Saturday, March 10, 2007

AWARDS & HONOURS
ECGC bags MoU award for 2005-06
State-owned Export Credit Guarantee Corporation of India Ltd (ECGC), an export credit insurance company working under the administrative control of the Ministry of Commerce and Industry, has been awarded the `MoU Award for Excellence' for the ... More

FOREX
Forex reserves up $1.5 b
India's forex reserves rose $1.5 billion to touch $194.6 billion for the week ended March 2.Reserves have been going up continuously over the past two months. The last fortnight has seen about $8 billion being added. Stock markets saw net ... More

NBFCS
IKF Finance opens branch at Khammam
IKF Finance Ltd has informed the BSE that the company has opened a branch office at Wyra Road, Khammam, in Andhra Pradesh recently to expand the company's vehicle finance activities. ... More

LIFE INSURANCE
Distribution pact
MR RAHUL BAJAJ, Chairman, Bajaj Auto Ltd, flanked by Mr Werner Zedelius (right), Member of the Board of Management of Allianz SE Insurance Growth Markets; and Mr Heinz Dollberg, Executive Vice-President, Asia-Pacific, Allianz; after signing an ... More

RBI & OTHER CENTRAL BANKS
Bill to replace SLR Ordinance introduced
The Finance Minister, Mr P Chidambaram, on Friday introduced the Banking Regulation (amendment) Bill 2007 in Lok Sabha. This Bill seeks to replace the Ordinance that was promulgated on January 23 to enable the Reserve Bank of India (RBI) to ... More

PRIVATE BANKS
UTI Bank branch in Gudivada
UTI Bank has opened a new branch at Gudivada, in Krishna district of Andhra Pradesh. Mr C.P. Rangarajan, President- Southern Zone of the Bank, inaugurated the branch, a press release ... More

PUBLIC SECTOR BANKS
Union Bank to open 3 ATMs
Union Bank of India (UBI) plans to open 3 ATMs in Hyderabad soon and take its tally to 27, according to Mr C. Abraham, Deputy General Manager. The bank has 50 branches in the Hyderabad region spread over 12 districts. ... More

SBH launches 20 ATMs
State Bank of Hyderabad (SBH) has launched a record 20 ATMs on a single day in Andhra Pradesh (12), Karnataka (3) and Maharastra (5) on Friday. The bank's total ATM network in the country now stands at 371. The Hyderabad-based ... More

INTEREST RATES
SBT cuts home, education loan rates
State Bank of Travancore (SBT) has reduced the floating interest rates on housing loans up to Rs 15 lakh and all educational loans outstanding in its book as on February 14, by 50 basis points. The bank has also reduced ... More

NON-PERFORMING ASSETS
`No bar under SICA to re-possess leased machinery if hirer defaulted'
The agreement stipulated that in case of default, respondent-company (Lakshmi Trade Credits) was entitled to re-possess machinery and sell it. More

FIXED DEPOSITS
Bank deposits on the rise
Bank deposits grew by Rs 62,240 crore during the monthly period ended February 23, according to the weekly statistical supplement of the Reserve Bank of India. The deposits stood at Rs 24,67,048 crore as on that date. Deposits ... More

ALLIANCES & JOINT VENTURES
Allianz SE looking at retail banking segment
Europe's financial services major Allianz SE is examining the prospects of foraying into the retail banking business in India. "We are looking very intensively on whether we should enter the Indian retail banking market," Dr Werner Zedelius, ... More

EVENTS
`Govt with RBI in curbing inflation'
Price stability steps should not affect growth: Chidambaram More