25 jan 2003
idbi
sees rs 5,000 cr in fds, current a/c in universal mode
mumbai: idbi has projected that, after becoming
a commercial bank, current account and fixed deposits
would contribute about rs 5,000 crore to rs 7,000 crore
in the initial two years.
bank
of rajasthan to sell lic mf units
new delhi: bank of rajasthan ltd is to sell mutual
fund products of lic mutual fund. a memorandum of understanding
to this effect is likely to be signed between bors
managing director kali mohan bhattacharya and licmfs
chief executive officer mr murali on february 1.
obc
clocks 57 per cent rise in gross profit in april-dec
new delhi: oriental bank of commerce clocked a
56.7 per cent rise in gross profit during april-december
2002. its gross profit stood at rs 832 crore during this
period, against rs 531 crore in the corresponding period
of 2001-02.
rbi
asks dealers not to give forex
mumbai: the reserve bank of india has directed
all authorised forex dealers not to release any foreign
exchange to the sponsors of the world cup cricket event
without its permission.
sbh
nine-month net profit up 17.5 pc
hyderabad: state bank of hyderabad (sbh), one of
the associate banks of state bank india (sbi), has announced
12.2 per cent growth in gross profit and 17.53 per cent
in net profit for the nine-month period of the current
fiscal year ended december 31, 2002.
ashok
leyland fin board clears debenture issue
chennai: the board of directors of ashok leyland
finance on friday cleared a proposal to raise rs 200 crore
through private placement of debentures.
dca
allows insurers to revise a/cs
new delhi: the department of company affairs (dca)
has permitted insurance companies to reopen and revise
their accounts in order to comply with technical requirements
of any other law, even after their adoption in the annual
general meeting and filing with the registrar of companies
(rocs).
hsbc
`cheers' for india
new delhi: the hongkong and shanghai banking corporation
(hsbc), recently launched a multi-city, multi-channel
promotional campaign, called "i cheer for india"
in connection with the forthcoming world cup in south
africa.
union
bank bond issue gets `aa+'
mumbai: the rs 400-crore union bank of india bond
issue has received `aa+' rating from the credit rating
agency, crisil.
24 jan 2003
lic
to take 10 pc stake in ifci asset rejig co
mumbai: life insurance corporation of india (lic)
would take a 10-per cent stake in asset care enterprise,
the asset reconstruction company (arc) set up by ifci
ltd.
sbi
mutual plans to increase asset base
mumbai: state bank of india mutual fund plans to
increase its corpus of funds by rs 2,600 crore to around
7,000 crore in a year's time.
aviva
life promoters infuse rs 45-cr capital
mumbai: in order to fuel its expansion plans, the
joint venture partners of aviva life insurance company
india (aviva) -- aviva plc and the dabur group -- have
infused rs 45 crore fresh capital into the company taking
the total capital to rs 255 crore.
south
indian banks net up 21 per cent to rs 55 cr in april-dec
thrissur: the south indian bank has clocked a 21
per cent rise in net profit during the april-december
period of the current fiscal.
ifci
revamp set to be over by march
new delhi: the restructuring of ifci ltd may be
accomplished by march this year, since the creditor banks
have agreed to restructure liabilities worth rs 7,000
crore.
bor
net 129 per cent up at rs 18.4 cr
new delhi: the bank of rajasthan ltd on thursday
announced a 129 per cent jump in net profit to rs 18.37
crore for the quarter ended december 31, 2002, compared
with rs 8.01 crore registered in the corresponding period
previous fiscal.
aviva life gets into pensions
mumbai: aviva life insurance on thursday announced
the launch of two new individual products pensionplus,
a regular savings personal pension plan, and secure life,
a term insurance with premium back plan.
idbi
bank launches fund management product
mumbai: idbi bank has launched a fund management
product, which is a technology-enabled solution for managing
corporate payables.
good
response to central bank adalat
coimbatore: central bank of india received an overwhelming
response to the exclusive lok adalat conducted here on
tuesday. the bank was able to recover rs 2.45 lakh in
cash and reach a compromise to the tune of rs13.48 lakh
on a single day.
bajaj
allianz, kvb to sign pact today
karur: karur vysya bank would enter into an arrangement
with bajaj allianz general insurance company ltd on friday
for the sale of general insurance products.
23 jan 2003