13 january 2002
uti bank q3 net up
uti bank ltd has recorded a 55.27 per cent rise net profit at rs
35.76 crore for third quarter ended 31 december, compared to rs
23.03 crore for the same period of previous fiscal.
total income increased to rs 394.04 crore in the reporting quarter
as against rs 265.85 crore in q3 of last year.
provisions and contingencies, which includes provision for
non-performing assets as well as standard assets made by the bank
sharply increased to rs 47.51 crore (rs 2.91 crore in the
corresponding quarter of last year).
in the reporting quarter, uti bank has raised additional tier i
and tier ii capital of rs 157.59 crore and rs 112 crore
12 january 2002
hdfc q3 net up 22%
housing development finance corporation ltd (hdfc) has increased
its profits by 22 per cent in the third quarter.
the company's profit for the quarter have now touched rs 121 crore
as opposed to rs 99 crores recorded in the same quarter last year.
on the sales front, hdfc touched rs 665 crores, a rise of almost
15 per cent.
11 january 2002
icici bank launches
icici bank has launched `icici bank echeque', an online payment
facility under which funds can be transferred from an icici bank
account to any other bank account. the facility would initially be
available in ahmedabad, bangalore, chennai, hyderabad, kolkata,
mumbai, nagpur and new delhi, and would later be extended to seven
the bank has around one
million online customers comprising around 25 per cent of its
total customer base. more than 50 per cent of the bank's
transactions were currently made through electronic channels as
against a five per cent less than two years ago.
all in indore
indore: for the first time in the country, an entire city
has been provided insurance cover against accidents without
under the scheme, the premium for the insurance is to be borne by
in case of death in accidents, the next of kin gets rs 10,000. if
an accident victim is disabled, he gets rs 10,000, while rs 5,000
will be given in case of partial disability.
as a special gift to girls, 17,000 government school going girls
will be given rs 1,200 every year in case either of her parents
dies or is disabled in an accident. at the age of 18, she gets a
lump sum of rs 87,000.
aid for gujarat
gandhinagar: the asian development bank (adb) has approved
aid of rs 77.90 crore for improvement of a stretch of 43 km of
roads in the earthquake devastated four cities of bhuj, bhachau,
rapar and anjar in kutch district.
the adb has also approved resurfacing of 1211 km roads connecting
villages having population of more than 1000 in severely affected
eight districts. the work, to commence from the current month,
would be completed by june 2002.
rbi alerts banks on
23 terror outfits
reserve bank of india has alerted banks about 23 terrorist outfits
on whose transactions a hawks eye is to be maintained. this
follows the promulgation of the prevention of terrorism ordinance
banks are required to
undertake due diligence in respect of the know your customer
a few leading banks have
already embarked on a massive exercise to re-profile their
9 january 2002
icici bank plans
100% uk arm
icici bank plans to set up a wholly-owned banking subsidiary in
the united kingdom.
icici is looking at capitalising the uk arm at $50 million.
icici has appointed sanjoy chatterjee, deputy general manager
(corporate banking) as the country head for the uk operations of
icici bank. chatterjee is expected to take up the new assignment
by the end of this month.
the uk operations will be
based in london. the bank is likely to set up a branch in one of
the satellite towns around london.
tata finance to
shut down non-core unit
tata finance ltd (tfl) is shutting down one of its non-core
divisions employing about 40 out of 940 employees. the employees
have been informed about the same.
some of these employees
would be redeployed in other divisions.
the division being closed
down was dealing with corporate lending and includes the business
unit, overseeing merchant banking activity.
mumbai: the state bank of india has installed a countrywide
video conferencing network with a state of the art
multi-conferencing unit connecting its 24 endpoints spread from
ahmedabad to guwahati and chandigarh to thiruvananthapuram.
the network connects the corporate centre in mumbai with the
corporate accounts group and other 24 centres.
the facility provides for full motion video transmission
connecting the whole conference rooms and its participants to
interact, broadcast, share and collaborate seamlessly.
8 january 2002
pnb housing cuts
new delhi: pnb
housing finance ltd has reduced the interest rate on its home
loans for resident and non-resident indians by 25 to 50 basis
points for different slabs. the processing and administrative fees
have also been reduced from 1.8 per cent to 1 per cent.
the revised interest
rates for loans up to rs 25 lakh for 10-year loans are 11.75 per
cent and for those between 11-15 years, 12 per cent. for 20-year
loans, the interest rate is 12.25 per cent.
for loans above rs 25
lakh, the revised rates are 12, 12.25 and 12.5 per cent for loans
of up to 10 years, 11-15 years and 16-20 years respectively.
auction rs 5,000cr govt bonds
mumbai: reserve bank of india will conduct a
yield-based auction for a 15-year government bond for a notified
ammount of rs 5,000 crore on 14 january.
the centre has also five per cent of the stock of notified amount
rs 250 crore for sale through non-competitive bidding to retail
go to finance diary index page