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ECGC
net rises 29 per cent despite increased claims
Depressed overseas
markets , fluctuating prices and a sharp increase in wilful defaults
have resulted in a 130 per cent spurt in claims on Export Credit
Guarantee Corporation of India Ltd (ECGC). Claims settled by the
corporation during the year ended March 31, 2002, increased to Rs
487.12 crore compared to Rs 212.49 crore for the year ended March 31,
2001. The rise is also due to the settlement of several pending
claims, said a senior official.
ECGC, however, reported a net
profit of Rs 46.04 crore for the year ended March 31, 2002, up 29 per
cent from Rs 35.55 crore for the year ended March 31, 2001.
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DSL
Soft opens centre for banking tech
DSL Software, a joint
venture between HCL Technologies and Deutsche Bank, in alliance with
the Indian Institute of Management, Bangalore, has launched `Centre
for research in finance and banking,' a centre of excellence for
banking technology.
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ICDS
suspends transactions
ICDS Ltd , a Non
Banking Finance Company belonging to the Pai group of Manipal has
suspended transactions.
At a meeting held in Manipal
on Monday, the company decided to suspend transactions, return the
money deposited with it and `come out' of the NBFC business. The
company, however, has decided to continue with its `fee-based
activities.'
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Corporationn
Bank to launch `Corp e-cheque'
Corporation Bank is
now in the process of launching yet another `value-added service'
called Corp e-cheque. The new service is to be launched in Mumbai on
Wednesday by the Deputy Governor of the Reserve Bank of India, Mr Vepa
Kamesam.
This service is said to
combine "the power of CorpNet, the banks's Internet banking
product, with the electronic funds transfer scheme of the Reserve Bank
of India'' to effect transfer of funds across banks and facilitating
payment to pre-approved beneficiaries within 48 hours.
The request for remittance
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SBI
Mumbai Card launched
SBI Cards has
launched SBI Mumbai Card, `a city affinity card' exclusively for the
citizens of Mumbai.
According to a press release,
the SBI Mumbai Card captures the `spirit of Mumbai' with a visual of
the Queen's Necklace on Marine Drive.
The card is designed to
appeal to a broad-based target audience in the 25-plus age group
ranging from young professionals to middle and upper middle class
segments as well as travellers.
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