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Canara Bank plans IPO in Q3
Mangalore: The
public sector Canara Bank has proposed to go ahead with its
much-delayed Rs 110-crore public issue, towards the third quarter of
this financial year, according to the bank managing director R V
Shastri.
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Rupee
strengthens, gilts bullish
Mumbai:
The rupee closed marginally firmer at 48.8450/8550 per dollar on
Thursday as compared to Wednesdays close of 48.8650/8750. Dealers
said that after the rupee opened at 48.8750/8850, it strengthened to a
days high of 48.8275.
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Om
Kotak plans to benefit from LIC market
Mumbai:
Om Kotak Mahindra Life Insurance will try to get ahead in the next few
months by targeting at least 50 per cent of the markets where Life
Insurance Corporation is a dominant player. The company will also
leverage its brand image in the western region.
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GTB
says it has offers from global players
Hyderabad:
Global Trust Bank says it is a perfect fit for acquisition by
international players interested in getting into India and has been
approached by several funds and banks in this regard, says GTB
managing director Sudhakar Gande.
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GTB launches customised product for SMEs
Hyderabad:
Global Trust Bank, the private sector bank based here, has announced
the launch of Unnati, a special product customised for the small and
medium enterprises segment. The product was launched by Karnataka
Chief Minister S M Krishna.
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Citibank
India net profit rises 14%
Mumbai: Citibank
India has registered a 14-per cent growth in net profit at Rs 325.4
crore for the year ended 31 March 2002 as compared to Rs 285.2 crore
in the previous year. The total income grew to Rs 2,713 crore (Rs
2,285 crore).
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Bank
of India slashes rates on FCNR deposits
Mumbai:
Bank of India has revised the interest rates on its FCNR deposits
downward by 20-35 basis points in some categories effective 29 June
2002. For dollar deposits with a maturity of one year to two years,
interest rates are now 2.05 per
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RBI
cuts repo rate to 5.75%
Mumbai:
In keeping with its bias towards a softer interest rate regime, the
Reserve Bank of India has cut the repo rate by 25 basis points to 5.75
per cent. The RBI accepted a single bid of Rs 5 crore at 5.75 per
cent, rejecting 22 bids of Rs 22,740.
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HC
rejects Kedars bail plea in gilt scam
Nagpur:
The Nagpur bench of the Bombay High Court has refused bail to former
chairman of Nagpur District Central Cooperative Bank Sunil Kedar, the
key accused in the Rs 150- crore government securities scam.
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Banks,
FIs not to disclose big exposures
Mumbai: All
banks and financial institutions will have to disclose large
individual exposures and connected lendings in their balance sheets
from this year. The individual exposures relate to those above 10 per
cent of a banks capital fund, while connected lendings refer to the
groups exposure to management personnel, directors, and relatives.
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