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Foreign
banks asked to ink inter-creditor pact
New Delhi:
Foreign banks have been asked to expeditiously sign the inter-creditor
agreement as part of the corporate debt restructuring mechanism.
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Banks
to report cash deals above Rs 10 lakh to RBI
Mumbai: Major
banks, including SBI, would now report all cash transactions
over Rs 10 lakh to the
Reserve Bank of India in a bid to monitor unaccounted cash
flows mainly for terrorist activities through the banking
channels.
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Not
involved in TFL woes, says Ratan Tata
Mumbai: Ratan
Tata, Chairman of the Tata group, on Tuesday said neither he
nor the top management in
the group were involved in the happenings at Tata Finance
Ltd.
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Customising
the customer
Mumbai: Bank of
Baroda plans to make its housing outfit, BoB Housing Finance,
a fully-owned subsidiary by buying the 33 per cent stake held by
National Housing Bank (NHB).
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BoB
Housing to pay 12 pc
Mumbai: BOB
Housing Finance Ltd (BoB HF) has declared a 12 per cent dividend
for 2001-02. The company has
registered a 30.13 per cent growth in sanctions and
a growth of 20.20 per cent in profit before tax, said a press
release.
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GTB
promises to regain credibility, attain growth
Hyderabad:
Despite severe pressure on asset quality and corporate image,
fiscal 2001-02 proved to be
a `blessing in disguise' for Global Trust Bank (GTB),
the Hyderabad-based private sector bank which suffered a major
setback due to costly errors
of of judgement and serious aberrations in systems
and procedures.
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Tayals
to hike stake in Bank of Rajasthan
Jaipur: The
promoters of Bank of Rajasthan have announced plans to increase
their equity holding in the
bank by another 10 per cent from the current level
of 39 per cent through the creeping acquisition route.
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How
PSBs can refurbish their image
The potential competitive advantage of public sector banks lies in
leveraging the knowledge of
customers and the peculiar circumstances in which
they work, and in making best use of their national network. To
achieve this, they have to
develop their own capabilities, work closely with government
and other agencies, change the ways they work and redirect and
reconstitute information
flows.
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Will
ARCs fare any better?
The creation of Asset Reconstruction Companies would not ensure
that the festering
problem of NPAs is better addressed. In fact, empowering institutions
to recover their dues without the aid of the courts would be
enough. The concomitant move
to crea te ARCs would weaken the resolve of the institutions
in reading the riot act to the defaulters.
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Kerala
grants more time to clear co-op loan dues
Thiruvananthapuram:
The State Government has, as part of a one-time settlement
programme, granted an extended period of three months effective
from August 16 for clearing
the dues of loans taken from cooperative banks and
cooperative institutions.
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Sebi
alerted DCA on Ferguson
Mumbai: Contrary
to popular perception, DCAs deep-throat on AF Ferguson shredding
Tata Finance documents is not any corporate rival, but Sebi. This
is the reason why DCA rushed
its six-member team to Mumbai.
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