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RBI sets up panel to tackle export credit delivery issues
Mumbai: The RBI has constituted a committee to impress on commercial banks
about the need to improve credit delivery for exporters on the lines
suggested by the NCAER after its nation-wide survey, a couple of months ago.
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PNB net up 20% in Apr-June to Rs 202 crore
Chandigarh: The city-based Punjab National Bank has reported a net profit
growth of 19.9 per cent at Rs 202.15 crore in April-June period of the
current financial year.
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Bank credit to SMEs falls to below 8%
Mumbai: Bank credit to small and medium scale enterprises has been falling
in the past few years, with the total credit declining to below eight per
cent in 2000 from 14 per cent in 1988.
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ING plan to hike Vysya Bank stake to 49% hits roadblocks
Mumbai: Dutch major INGs proposal to hike stake in Vysya Bank to 49 per
cent from 20 per cent now through a group company appears to have run into
rough weather with the Foreign Investment Promotion Board raising objections
and deferring it for two weeks.
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HC pulls up govt for failure to check outflow of forex
New Delhi: Pulling up the Centre for its apathy towards certain overseas
firms allegedly involved in illegal outflow of foreign exchange worth
several hundred crores of rupees by offering e-commerce packages, Delhi High
Court on Monday sought a complete report from the government.
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ICDS unveils repayment options for investors
Bangalore: The Mohandas Pai-controlled non-banking finance company -
Investment Credit and Development Services (ICDS) - has proposed a set of
repayment options to its investors.
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Lord Krishna picks 20% in Flexcel
Kochi: Lord Krishna Bank has picked up a 20 per cent equity stake in Flexcel
International, an Application Service Provider (ASP).
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IndusInd Bank net rises 53.74 pc
Mumbai: The bank has posted a 53.74 per cent rise in net profit for first
quarter ended June 30, 2002, at Rs 17.48 crore as against Rs 11.37 crore in
the quarter ended June 30, 2001.
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Bank of Rajasthan Q1 net rises
Jaipur: The net profit of the Bank of Rajasthan has risen marginally by 1.03
per cent to Rs 12.73 crore for the quarter ended June 30, 2002 from Rs 12.60
crore for the quarter ended June 30, 2001.
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Q1 profit numbers muted for PSBs
Mumbai: The first quarter results of a handful of public sector banks
reflect a return to reality after the heady days of May and June when most
public sector banks reported a doubling of profits during the previous
fiscal.
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Oriental Bank Q1 net up 20.4 pc
Mumbai: The QI net profit of Oriental Bank of Commerce (OBC) has reached Rs
102.74 crore, a 20.4 per cent increase over Rs 85.36 crore in the corresponding period in
the previous year.
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Banks set to withdraw suits before recovery tribunals
New Delhi: The Debt Recovery Tribunals (DRTs) could soon be witnessing a
whole new phenomenon with lenders queueing up before them to withdraw cases
filed earlier against defaulters, instead of approaching the tribunals with
fresh recovery suits.
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Canara Bank cuts deposit rates
Bangalore: Canara Bank has reduced deposit rates across some maturities
ranging from 0.25 to 0.5 per cent. A bank release said that these rates will
take effect from August.
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