|
Indian promoters of private banks can hold 49%
Mumbai: The Reserve Bank of India
has raised the ceiling for Indian promoters equity holding in private sector
banks to 49 per cent, providing them a level-playing field with foreign
investors.
Back to News Review
index page
Bank
of India to cut 5,000 more jobs
Mumbai: Bank of India has proposed to cut another 5,000 jobs in the next
three months through a second voluntary retirement scheme. The bank will prune
its staff by 12 per cent. In the last VRS a year ago, the bank reduced staff
strength by around 7,000.
Back to News Review
index page
GTB
seeks RBI action on panic withdrawals
Hyderabad: Suspecting foul
play behind the latest panic withdrawals, the management of Global Trust Bank
has decided to approach the Reserve Bank of India seeking action against
entities allegedly resorting to the unethical practice of spreading rumours of
the bank crumbling, which led to panic withdrawals by its depositors.
Back to News Review
index page
Seamens
PF board wants relief package
Mumbai: The board of trustees of Seamens Provident Fund Organisation
has forwarded three proposals to the central government for compensating the
fund to the tune of Rs 93 crore, which was lost in the recent gilts scam.
Back to News Review
index page
Australian
miner to invest $10m in gold exploration
Mumbai: The renowned
Australian gold miner Charles Devenish has finalised plans for a big-ticket
entry into the Indian mining sector, with an initial investment of $10 million
through the Mauritius route for exploration, prospecting and mining of gold.
Back to News Review
index page
Freight
on imported crude may go up
New Delhi: Freight on imported crude is expected to go up following the
imposition of additional war-risk premium by marine insurers on foreign ships
calling on ports on the western coast.
Back to News Review
index page
War
threat likely to delay Enrons DPC sale
Mumbai: Tension between India and Pakistan is likely further to delay
the sale of Enrons idled $2.9-billion power plant.
Back to News Review
index page
Hotline
information service in Vizag
Vizagapatnam: Ramprasad Share Consultants has started, for the first
time in the city, a hotline information services on the background and present
financial status of over 10,000 listed and unlisted companies for investors.
Back to News Review
index page
Index
funds perform very badly
Mumbai: Riots in Gujarat and,
later, the India-Pakistan crisis have taken a heavy toll on index funds, as
their three-months performance suggests. As on May 31, one of the worst
diversified equity schemes was the index fund managed by Unit Trust of India.
Back to News Review
index page
Bear
in command
Mumbai: Bears were
in total command of Fridays trading activity. Bulls were unable to make any
impact during the day's trading. Fridays market action resulted in
terminating most of the uptrend counters in the tradable list.
Back to News Review
index page
IDBI
surges on reconstruction plans
Mumbai: The share price of Industrial Development Bank of India has been
gaining momentum in the past few days on the back of the restructuring in the
institution and its plans to be a universal bank in the next 12 months.
Back to News Review
index page
Profit-booking
in technology, PSU stocks
Mumbai: After lacklustre trading on Thursday, the 30-share Sensitive
Index declined sharply by 41.55 points or 1.27 per cent to settle for the day
at 3217.76 points.
Back to News Review
index page
BoB to achieve
global standards by 2005
Mumbai: The
state-run Bank of Baroda has announced a slew of management and business
initiatives for the fiscal 2002-03 to take the bank nearer to its stated goal
of becoming a national bank with international standards by the year 2005.
Back to News Review
index page
Sundaram
Fin registers 43% drop in net profit
Chennai: Sundaram
Finance Ltd has reported a 43-per cent drop in its net profit during the year
ending March 2002. The net profit of the company stood at Rs 40.36 crore as
against Rs 70.54 crore in the previous year.
Back to News Review
index page
India
Switch to offer ATM outsourcing for banks
Mumbai: India
Switch Company, part of the HMA group, is to offer outsourcing options for
automated teller machines under which it will maintain a network on a lease
basis for banks.
Back to News Review
index page
Call
to set up dynamic financial standards forum
Mumbai: The
standing committee on international financial standards and codes has
recommended that the high level committee on capital markets be entrusted with
the task of monitoring the progress of implementation of recommendations of 11
advisory groups that were set up as part of the exercise.
Back to News Review
index page
Poor
marketing, infrastructure add to Mumbai realty woes
Mumbai: Poor
marketing and infrastructure in the state and lack of a centralised plan or
understanding the needs of the city, have been cited as the major causes for
Mumbai rapidly losing out to other metros like Delhi, Hyderabad in terms of
attracting real estate development in the country.
Back to News Review
index page
GDS
reigns supreme in hospitality industry
The global distribution system
is fast becoming the backbone of reservations and international recognition for
the hospitality industry worldwide and India is fast catching on.
Back to News Review
index page
|
