19 Oct 2002
HDFC Bank posts 31% higher first half profit at Rs 172 crore
Mumbai: HDFC Bank on Friday declared a 31 per cent increase in net profit to Rs 172.1 crore for the half year ended September 30, 2002 as compared to Rs 131.4 crore in the first half of the previous financial year.
State Bank CGMs not keen on inter-circle transfers
Kolkata: Circle-heads or chief general managers of the countrys biggest public sector commercial bank, State Bank of India, are reluctant to listen to the appeal of the banks central office for allowing inter-circle transfers.
Jalan for stronger corporate governance norms in NBFCs
Mumbai: The Reserve Bank of Indias governor, Bimal Jalan, on Friday sought a stronger corporate governance code specially in deposit taking non-banking finance companies in order to safeguard interests of the small depositors.
Share of private sector in debt placements up: RBI
Mumbai: The share of the private sector in the private placement market has been growing vis-a-vis the public sector, even as the share of financial entities both public and and private
has come down partly because of the limit imposed on raising of Tier-2 capital by banks.
Workmens compensation tariff likely to be reworked
New Delhi: For the first time in nearly five decades, the tariff advisory committee plans to rationalise the workmens compensation tariff used by the general insurance industry.
SBI disburses Rs 1,922-cr housing loans in first half
State Bank of India has disbursed housing loans of nearly Rs 1,922 crore in the first-half of the current fiscal and expects to disburse another Rs 2,500 crore in the second-half, P.N. Venkatachalam, Managing Director (National Banking Group), told here in the press conference.
Banks told to adhere to RBI fiat on IFR
Mumbai: Commerical banks have been asked to adhere to the RBI directive on maintenance of Investment Fluctuation Reserves (IFR). The RBI Deputy Governor, G.P. Muniappan, told a meeting of bank chiefs that some banks were not complying with the RBI rules and regulations.
KVB to focus on fee-based business
Karur: Karur Vysya Bank (KVB), in a bid to increase its income stream, is planning to focus on increasing fee-based business, cutting costs and building business volumes.
BoI plans bonds to raise Rs 450 cr
Mumbai: Bank of India plans to tap the debt market to raise around Rs 450 crore through Tier-II bonds shortly. A senior bank official said details regarding the tenor and coupon rate were still being worked out.
Canara Bank reduces deposit rates
Bangalore: Canara Bank has brought down its maximum time deposit rate by 50 basis points to 7 per cent. The maximum rate is applicable for tenures upwards of 3 years. However, the bank has retained its minimum time deposit rates at 4.25 per cent and 5 per cent.
Vijaya Bank's on the prowl, targets BoR, BoP
New Delhi: Vijaya Bank is on the lookout for a north Indian bank to acquire. According to banking division sources, the bank is chalking out a marketing strategy to go in for inorganic growth. Market analysts point out two banks fit into Vijaya Banks requirements as per its balance sheet size.
SBI disburses Rs 1,922-crore housing loans in fiscal first-half
Chennai: State Bank of India (SBI) has disbursed housing loans of nearly Rs 1,922 crore in the first half of the current fiscal and expects to disburse another Rs 2,500 crore in the second half, says SBI managing director (national banking group) P N Venkatachalam.
Incremental retail advances were of the order of Rs 2,567 crore in the first half, he says. SBI is now focussing on speed of delivery, apart from offering cheaper loans, as it has become alive to customer needs.
About customer complaints that existing borrowers on floating rates are not getting the full benefit offered to newer borrowers, Venkatachalam says the bank is aware of the problem. A reduction in the prime lending rate will benefit all borrowers, and this may happen if there is a rate cut in the credit policy.
But he says SBI has to strike a balance between the customer needs and its own affordability. If the bank were to pass on the full benefits of lower rates to all its existing borrowers, it would have to take a very great hit on margins.
