22 mar 2003

iffco to set up co-op bank for farmers
new delhi: as part of its diversification exercise, indian farmers fertiliser cooperative ltd proposes to set up a co-operative bank in the rural area.

pnb to acquire 26 per cent in ifci arc for rs 1.3 cr
new delhi: punjab national bank has decided to subscribe to 13,00,000 equity shares of rs 10 each of asset care enterprise ltd, an assets reconstruction company to be floated by industrial finance corporation of india.

kerala banks’cd ratio perk up 2 per cent
kochi: after a long period of stagnation, credit-deposit ratio of
commercial banks in kerala has gone up by two per cent in six month period, state-level bankers’ committee, which met here on friday has observed.

three bids shortlisted for indonesia’s bank danamon
new delhi: indonesia’s bank restructuring agency said on friday three bids had been shortlisted - including one foreign consortium - for a majority stake in the country’s fifth-largest bank, bank danamon.

lloyds fin fails to pay depositors
mumbai: it has been a never-ending wait for lloyds finance fixed deposit holders' in getting back their investment. the company does not seem to be implementing the directions issued by the company law board (clb) on repayment of deposits. the company does not seem to be implementing the directions issued by the company law board (clb) on repayment of deposits.
the company paid its depositors the first instalment of the rescheduled amounts after a delay of over 6 months. after that, no payments have been made.

21 mar 2003

iba agrees to take up staff unions’ demands on march 29
kolkata: indian banks’ association has put forward its agenda before the unions, including unlimited computerisation without interference from unions, redeployment of staff without any limitations, and rationalisation of functional allowances, instead of taking up charter of demands of employees’ unions.

adb to invest $7.5 billion in india over three years
new delhi: asian development bank, a subsidiary of the world bank, is looking at investment opportunities in sectors like inland waterways, agro-processing including irrigation in india.

bajaj allianz on course to post profit in ist year of ops
mumbai: bajaj allianz general insurance company ltd is on its way to make profits in its first full year of operations. kamesh goyal, managing director, bajaj allianz, said the company would be ending the year with a premium income of over rs 285 crore.

credit policy on april 29
mumbai: the reserve bank of india will announce the monetary and credit policy for 2003-04 on april 29.

nabard should go for direct lending
mumbai: a world bank team is in talks with nabard (national bank for agriculture and rural development) to extend a line of credit to fund micro-finance initiatives such as the shg-bank linkage programme.

banks allowed to set up more offshore units
mumbai: the reserve bank of india has said that banks may set up more than one offshore banking unit (obu) as long as they are not in the same special economic zone (sez).

corpn bank's archives plan
mangalore: the mangalore-based corporation bank has decided to have its own archives depicting its 97-year history. the collection to be built up for the archives hopes to cover the entire history of the bank from its beginnings in udupi in 1906

federal bank tier-ii issue fully subscribed
kochi: federal bank's issue of unsecured, non-convertible bonds in the form of subordinated debt for its tier-ii capital has been fully subscribed, collecting rs 150-crore in the process.

icici move to take over spic assets futile
chennai: the spic chairman, a.c. muthiah, has termed icici's plans to take over the assets of his company's pta and pfa projects as a 'futile exercise' .