Crisil sounds alarm bells over state govt guarantees
Mumbai: Five states which together account for almost 50 per cent of the aggregate state-level guarantees is estimated to encounter aggregate debt servicing obligations of over Rs 44,000 crore over the next five years, says Crisil.
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Harshad Mehta tops State Bank defaulters list at over Rs 800 crore
Mumbai: The late Harshad Mehta still rules the sweepstakes when it comes to NPAs in the Maharashtra region as on March 31, 2001 if the data on NPAs of over Rs 10 crore released by All India Bank Employees Association on Thursday is anything to go by.
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Lord Krishna Bank plans acquisitions, public issue
Kochi: In order to become a major player in the private sector, Kerala-based Lord Krishna Bank has proposed initiatives which include an IPO, acquisition of small and medium private sector banks, providing inter-connectivity, launching 50 offsite ATMs and expanding branch networks.
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South Indian Bank Q1 net up 22% to Rs 19 crore
Kochi: After making provisions for NPAs, standard assets, staff entitlements and taxation, South Indian Bank registered a net of Rs 18.81 crore compared to Rs 15.38 crore during the corresponding period last year.
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GE Caps raises Rs 100 crore seven-year FRDs at 8.10%
Mumbai: GE Capital Services India has raised Rs 100 crore from the market through privately placed debentures at an interest rate at 190 basis points above the Reuters one-year government securities benchmark, which works out to 8.10 per cent.
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Clearing Corporation plans alternative to call money
Mumbai: With the RBI planning to phase out non-bank entities from the call money market, the Clearing Corporation of India Ltd (CCIL) is set to introduce a new instrument as an alternative to call money, allowing participants to borrow and lend funds against securities.
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Rupee steady; gilts bullish
Mumbai: The rupee closed steady on Thursday almost similar to its previous levels at 48.7750/78 against the dollar in a lacklustre forex market. Forex dealers said, that the market was inactive with thin trading volumes, as there was not much trading volumes, as there was not much movement in the currency. "Demand for the greenback is almost nil and supplies were adequate, so the rupee remained stable for the entire day,'' said a forex dealer with a private sector bank.
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Corpn Bank sets aside Rs 88 cr for tech upgradation
Mangalore: As part of its drive to build up an image of being a `technology-savvy' bank, the Mangalore-based Corporation Bank has set aside a sum of Rs 88 crore for technology upgradation, according to the bank's Chairman and Managing Director, Mr K. Cherian Varghese.
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CanFin Q1 net rises 10 pc
Bangalore: Canfin Homes has increased its net profit by 10 per cent for the first quarter of the current financial year to Rs 4.49 crore. For the corresponding period of the last financial year, the net profit was Rs 4.07 crore.
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RBI cheers up Govt with Rs 10,300-cr dividend
New Delhi: For a third consecutive year, the Reserve Bank of India has pitched in a big way to help the Centre tide over its cash flow problems. The RBI, which is the Government's debt manager, has decided to transfer close to Rs 10,300 crore as dividend to the Government out of its surplus profit for 2001-02 (July-June), according to the Secretary, Department of  Economic Affairs (DEA), Mr C.M. Vasude.
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RBI surplus profit surges above Rs 10,000 crore
Mumbai: The Reserve Bank of India seems to have good news for the Finance Minister struggling to find resources to fill the Budget deficit. For the year ending June 2002, the surplus profit of the bank seems to have surged from Rs 9,350 crore last year Rs 10,750 crore this year, a bonus of Rs 1,400 crore.
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Online phone bill payment thru Centurion Bank
Ernakulam: An online telephone bill payment facility for the customers of Centurion Bank has been inaugurated by Mr John Thomas, General Manager (Finance), BSNL, Ernakulam, here.
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Union Bank Q1 net up 81 pc at Rs 114 crore
Mumbai: Union Bank of India has registered a 80.72 per cent rise in net profit at Rs 113.91 crore for the first quarter ended June 30, 2002 from Rs 63.03 crore in the corresponding quarter in the previous year.
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Bank defaults mount to Rs 80,246 cr: AIBEA
Kolkata: Till March 31, 2001, a total of 12,090 accounts defaulted to the tune of Rs 80,246.46 crore to banks and financial institutions in the country, according to a study undertaken by the All India Bank Employees Association (AIBEA).
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'Defend PSU banking' rallies today
Thiruvananthapuram: The United Forum of Bank Unions (UFBU), Kerala, will observe "Defend public sector banking day' on July 19 by holding rallies and meetings throughout the State. The State Convener of UBFU, Mr V.G. Sidharthan, said that the bank staff will attend office on Friday wearing badges.
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