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SBI associates suggest
branch-swap strategy
Chennai: If SBBJ has a branch
presence in Kerala and SBT has some branch presence in Rajasthan, the two banks
can enter into a swap arrangement whereby SBBJ takes over the branches of
SBT in Rajasthan and vice-versa, SBI associates have proposed.
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Rates
might move northwards very soon
New Delhi: Inflation
in the euro-zone is already ruling on the higher side. With no explicit rate
cuts in the offing, interest rates in India have to start moving up sooner than
later.
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Traders
like to switch to short-end securities
Mumbai: Traders said most of them preferred to remain at the shorter end
of the market and restrict themselves to trades to less than 10 years. As a
result, a bulk of the volumes was confined to these categories of securities.
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Bankers
witness a big business for debit cards
Mumbai: There is tremendous potential for debit cards. It will soon be
substituting cheques. Utility payments will soon be made through debit cards,
either at the ATMs or at the counters, bankers believe.
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IDBI
likely to sell stake in IDBI Intech
Mumbai: Industrial Development Bank of India will have to sell its stake
in its information technology subsidiary, IDBI Intech, following
corporatisation.
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Limited
mobility may help fixed line operators
New Delhi: Suggesting
that fixed line operators get into limited mobility, Nicholas Negroponte,
co-founder and director, MIT Media Lab, said wireless and wired line operators
should compete.
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Panel issues
blueprint for Internet reform
New Delhi: The
group that oversees the Internets traffic system moved closer to a complete
overhaul over the weekend when a committee recommended changes aimed at making
the controversial body function more smoothly.
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Dena Bank to
show better results
Chennai: Dena Bank is all set to book a profit in the financial year
2001-02 as the audited results will be declared tomorrow.
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CVC to
look into UTUs Reliance exposure
New Delhi: The finance ministry has decided to refer the controversial
case of private placement of equity by Reliance Industries Ltd with Unit Trust
of India aggregating Rs 1,000 crore in 1994 to the Central Vigilance Commission
for scrutiny.
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Fiscal
deficit overshoots target by Rs 4,490 crore
New Delhi: The 2001-02 budget had targeted a total expenditure of Rs
3,75,223 crore. As against this, the revised estimate came to Rs 3,64,436 crore
and the final figure was Rs 3,59,070 crore.
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CII predicts
India industry will improve soon
New Delhi: Even as war clouds
gather, a majority of respondents of the Confederation of Indian Industry
Business Outlook Survey have expressed optimism about business prospects in the
next six months.
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Over
100 firms to attend Kabul Made in India show
New Delhi: More than
100 Indian companies representing a wide variety of sectors are to participate
in the Made in India exhibition being organised by the Confederation of Indian
Industry (CII) in Kabul in September 2002.
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Oman-India
JVs financial closure soon
Mumbai: The
$969-million Oman-India Fertiliser project, a joint venture between Indian
co-operatives and the government of Oman, is likely to reach its financial
closure by the end of June 2002.
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