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Amex out of red, posts net profit of Rs 10 crore
New York: American Express Bank is out of the red. The bank has posted a net
profit of Rs 9.5 crore for the year ended 31 March 2002, against a net loss
of Rs 22.5 crore in the previous year.
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ECB leaves rates unchanged
Berlin: The European Central Bank left interest rates unchanged on Thursday
as a stronger euro and doubts over the pace of the global economic recovery
persuaded policymakers to stay put despite their inflation concerns.
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Local private banking market set to consolidate: PwC
Mumbai: PricewaterhouseCoopers, in its first private banking management
survey carried out in India, has recommended that players in this industry
have to know their clients better.
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G-sec trades cautious on OMO hopes
Mumbai: Despite ample liquidity in the banking system, trades in government
securities have been in a cautious mode in anticipation of open market
operation sales.
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NOBW demands 25% hike in special pay
New Delhi: The National Organisation of Bank Workers has demanded a 25-per
cent hike in special pay for the clerical staff and 30 per cent for the
sub-staff, apart from a 100-per cent neutralisation and merger of DA in the
basic pay.
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Cooperative Bank wins performance award
Thiruvananthapuram: The Kerala State Cooperative Agriculture and Rural
Development Bank has been selected for the Best Performance Award for 2000-01 instituted by the
National Bank for Agriculture and Rural Development.
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ICICI Bank's Home Utsav in Chennai
Mumbai: ICICI Home Finance Co Ltd, a subsidiary of the ICICI Bank, will
organise Home Utsav in Chennai, where home loans will be spot sanctioned at
a slightly lower rate. Over 100 builders with more than 300 different housing projects will participate in it.
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HDFC Standard begins Kochi operations
Mumbai: HDFC Standard Life Insurance Company on Thursday launched its
operations in Kerala at Kochi by offering a variety of products to suit the
diverse requirements of its customers. The products offered by the company
included endowment assurance.
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Insurance JV: Chubb to pay HDFC Rs 47-cr premium for 26% holding
Mumbai: The US-based insurance major, Chubb Corporation, which is entering
the Indian insurance sector by setting up a joint venture with domestic
housing finance major, Housing Development Finance Corporation, will pay a
180-per cent premium.
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Andhra Bank opens more ATMs
Hyderabad: Andhra Bank, the Hyderabad-based premier public sector bank,
opened eight off-site and 16 onsite ATMs in Hyderabad and Secunderabad here
on Thursday. These ATMs with interconnectivity would provide the customers
anywhere and anytime banking.
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Ministry seeks help on IFCI's PF default issue
New Delhi: The ministry of labour has sought the ministry of finance's
intervention in sorting out IFCI Ltd's recent defaults in the repayments of
the interest and principal on investments made by the Employees Provident
Fund Organisation.
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Bankers not inspired by securitisation ordinance
Mumbai: The ordinance, which was expected to help banks in recovery and
reduction of their bad debts, may fall short just where it was required,
bankers said.
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