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UTI Bank to meet on Wednesday to discuss JPC report
Mumbai: UTI Bank has convened a board meeting on July 31 to consider forming
an internal panel to conduct an inquiry into the failed merger with
Global Trust Bank and the joint parliamentary committee's draft report, which
stated that chairman & managing director PJ Nayak stood to gain personally
from the merger.
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HDFC net rises 20 pc on higher income
Mumbai: HDFC Ltd. has reported a 20 per cent increase in net profit at Rs
137.3 crore for the first quarter ended June 30, 2002 against Rs 114.06
crore during the corresponding quarter of the previous financial year.
Income from operations rose 11 per cent to Rs.702.9 crore from Rs. 633.1
year ago.
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PSUs back to square one: Gipsa opts out of TPA empanelment
New Delhi: The General Insurance Association has thrown the ball back in the
court of the four companies after junking its empanelment of third party
administrators.
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HDFC Bank goes mass on wealth management services
Mumbai: HDFC Bank has charted a roadmap for aggressive growth of its wealth
management business by making its services available not only to high
net-worth individuals, but also to the mass affluent salaried class.
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LKB serves notices to 78 large defaulters
Mangalore: Private sector Lord Krishna Bank has served notices to its 78
defaulter companies responsible for large non-performing assets taking
advantage of the new ordinance on securitisation.
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SBI Institute plans tie-up with varsities
Mumbai: The State Bank Institute of Information and Communication Management
(SBIICM), incorporated by the State Bank of India here for promoting
training of the bank's staff in information technology, is ramping up its
operations to meet the large scale requirements.
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AMP Sanmar aims at 30,000 policies this year
Chennai: AMP Sanmar Assurance Company Ltd, which began selling operations
four months ago, expects to sell around 30,000 policies this year.
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GTB extends mobile banking
Hyderabad: Customers of Global Trust Bank and BPL Mobile in Coimbatore,
Madurai and Tiruchi will now be able to access their banking and shares
demat accounts through their cell phone with the introduction of `Intouch'
mobile banking facility.
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IOB net rises 21.51% at Rs 72.96 crore
Hyderabad: Indian Overseas Bank (IOB) has recorded a net profit of Rs 72.96
crore for the quarter ended June 2002, a 21.51 per cent increase over the Rs
60.04 crore net during the corresponding period in the previous year.
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Corpn Bank sets up risk management mechanism
Mangalore: The Mangalore-based public sector Corporation Bank has set up a
risk management mechanism for the identification, measurement and control of
the various risks faced by the bank in the present `dynamic business
environment'.
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UBI reward points for performing accounts
Bangalore: United Bank of India (UBI) has decided to announce reward points
for performing accounts such that at the end of the year the borrowers
concerned can encash the points to claim better facilities from the bank.
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SBM net up at Rs 23 cr in Q1
Bangalore: State Bank of Mysore (SBM) registered a net profit of Rs 23.42
crore for the first quarter ended June 2002, a 21 per cent growth (Rs 4.07
crore) over the corresponding previous period.
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