The Hindu Business Line : Friday, February 07, 2003

Pichler is new Chairman of Thomas Cook (I)
THOMAS Cook India Ltd (TCIL) has announced the appointment of Mr Stefan Pichler, Chairman & CEO, Thomas Cook AG, as its new chairman. The appointment will take effect after the conclusion of the company's annual general meeting on February 24. ... More

FOREX

Re strengthens; gilts fall
Mumbai: THE rupee ended at a new high of 47.74 against the dollar on Thursday as compared to Wednesday's close of 47.7500/7550 in the forex market. The dollar inflows were seen to be robust in a sellers' market, said the forex trading head in a ... More

INFORMATION TECHNOLOGY

Another Corpn Bank ATM
MANGALORE: Corporation Bank has opened yet another automated teller machine (ATM) in Mangalore. With this, Mangalore now has 15 Corporation Bank ATMs. According to a press release here, the bank's customers can now use their cards in ... More

TECHNOLOGY

UCO Bank draws road-map for tech upgradation
UCO Bank has finalised its technology road-map for the next three years. From the fiscal 2006-07, UCO Bank, according to its CMD, Mr V.P. Shetty, will be comparable to any techno-savvy bank of the day. The highlights of the programme, as he ... More

NBFCS

Kotak Mahindra gets nod for bank
KOTAK Mahindra Finance Ltd has been awarded the licence to commence its banking business by the Reserve Bank of India. The bank is to be called Kotak Mahindra Bank Ltd and is likely to commence operations before March 31. "Ours is the first ... More

ALF offers petro card in tie-up with BPCL
ASHOK Leyland Finance Ltd (ALF) expects to disburse credit worth about Rs 300 crore through its tie-up with Bharat Petroleum Corporation Ltd (BPCL). The tie-up, for a co-branded smart card, was announced here today. The card, called SmartFleet, ... More

HOUSING FINANCE

PNB cuts home loan rates
PUNJAB National Bank (PNB) has reduced interest rates on housing loans with effect from February 10. The new rate under the floating option shall be 8.50 per cent (8.25 per cent under FinBasket scheme) for loans repayable up to 5 years, 9 per ... More

It's 'interest' that interests all!
Plunging interest rates for loans have prompted several banks in Bangalore to aggressively promote housing finance. This hoarding at a busy intersection says it all.

HDFC to stress on monthly rest options
THE housing finance major HDFC, though relatively late in introducing the monthly rest option for its home loan customers, a concept which its rivals used as a marketing tool, has now chosen to show greater thrust on it, if its latest interest ... More

LIFE INSURANCE

Insurance selling well in rural areas: Study
MOBILE phones, computers, cars, and now insurance. Rural India seems to have an appetite for it all. Going by the findings of a recent study conducted by market research agency, MART, the rural consumer is now exhibiting an increasing ... More

SBI Life opens branch at Vijayawada
SBI Life is concentrating on extending its reach in Andhra Pradesh, especially the coastal belt, and the branch office here will be a one-stop shop for providing insurance services here and the adjoining districts, Mr R. Krishnamurthy, Managing ... More

GENERAL INSURANCE

UBI to sell New India Assurance products
UNION Bank of India (UBI) has started marketing New India Assurance Company's products to its customers. According to Mr V. Leeladhar, Chairman and Managing Director, Union Bank, the bank has obtained the certificate of licence to act as a ... More

CREDIT RATING

`Stable outlook' for Britannia NCDs
BRITANNIA Industries Ltd's (BIL) Rs 50-crore non-convertible debenture (NCD) programme has been rated as `AAA' (Ind) with a "stable outlook'' by Fitch Ratings India, a 100 per cent subsidiary of Fitch Inc. According to the statistical rating ... More

LGF programme gets `MAAA'

PUBLIC SECTOR BANKS

CVC allays banks' fears over probe on credit disbursals
THE public sector banking industry may have been in the grip of an extended bout of hallucination over lurking shadows of investigative authorities. At least the Central Vigilance Commission thinks so. Finding no basis for allegations by banks ... More

BoB declares 20% interim

FINANCIAL INSTITUTIONS

Exim Bank may recover dues from Daewoo
THE Delhi Debt Recovery Tribunal has passed a judgement in favour of Exim Bank of India, allowing it to recover a sum of Rs 146.66 crore from Daewoo Motors India Ltd, bank officials said. According to them, Exim Bank had filed a case against ... More

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