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SBT
profit growth sustainable: MD
Thiruvananthapuram: The
sharp growth in the net profit of State Bank of Travancore, which
recorded its highest ever net profit of Rs 120.93 crore in 2001-02, is
sustainable, according to the banks managing director Amitabha Guha.
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ICAI
accounting norms optional for listed banks
Mumbai: The
Securities and Exchange Board of India has made compliance with the
four accounting standards of the Institute of Chartered Accountants of
India optional for the listed banks for the financial year ended 31
March 2002.
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Retrospective
tax breaks for superannuation funds
Mumbai: Corporates
operating approved superannuation funds are set to qualify for
income tax breaks with retrospective effect from October 2000. The
move is expected to benefit private players in the domestic insurance
industry.
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IDBI
Bank scheme for small businessmen
Mumbai:
IDBI Bank has introduced two customer-centric products to attract
small and medium businessmen.
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IDBI Bank
unveils facility for Kerala traders
Thiruvananthapuram: IDBI
Bank has introduced two new variants of its current account services
Business Special and Business Premium for its customers in
Kerala.
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Another
package for IFCI likely
New Delhi: With
the health of IFCI Ltd showing steady deterioration, the ministry of
finance is considering the option of stepping in once again to
catalyse yet another financial support package for the institution.
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RBI
cancels Pune banks licence
Mumbai: The
Reserve Bank of India has cancelled the licence of the Pune-based Shri
Adinath Shahkari Bank Ltd. The bank is precluded from transacting the
business of banking as defined in the Banking Regulations Act,
1949.
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Forex
brokerages reinvent the game
Mumbai: IBS
Forex Pvt Ltd, in association with Financial Technologies, launched
Indias first indigenously developed foreign exchange trading
platform called FXDirect for the inter-bank forex market.
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Bank stocks:
some gain, bourses still cautious
Mumbai: The
banking sector gave a good performance last fiscal riding on the back
of falling interest rates and appreciation in government securities.
All seems rosy for the banking sector.
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Canara
Bank to work out plans for card business
Mangalore: Canara
Bank, one of the early entrants into the credit card business in India
is expected to work out a new strategy for this business. Though
senior officials of the bank were tight-lipped about the new card
initiative, it is learnt that the bank is mapping out a SWOT-like
analysis of the business.
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