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Rs
4,000-crore OMO auction Llkely soon
Mumbai: The Reserve Bank of India may announce
an open market operation to suck out the excess liquidity
from the inter-bank system and to stop the yield on government
securities slipping to successive lows.
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Twin
bond auctions sail through
Mumbai: The Reserve Bank of India set a cut-off
price Rs 100.93 (YTM at 7.1444 per cent) for the Rs 4,000
crore 7.27 per cent 2013 paper and a cut-off price of
Rs 100.72 (YTM at 7.8858 per cent) for the Rs 3,000 crore
7.97 per cent 2032 paper auctioned on Tuesday.
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J&K
Bank first half net up 35% at Rs 147
crore
Mumbai: Jammu & Kashmir Bank Ltd has reported
a 35.5 per cent jump in its net profit to Rs 146.99 crore
for the first half of the financial year 2002-03 compared
to Rs 108.96 crore for the same period in the previous
year.
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MoF
to hold meet on motor cover claims
New Delhi: The Union finance ministry will soon
convene a meeting of all parties concerned to find a lasting
solution to the vexed motor insurance claim issue.
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Nabard
cuts refinance rates
Mumbai: Keeping in view the drought situation in
the country, the National Bank for Agriculture and Rural
Development (Nabard) is to offer refinance at a concessional
rate of 7 per cent per annum to all banks for financing
minor irrigation investments.
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Polymer
notes not now: RBI
Mumbai: The Reserve Bank of India has said that
there is no immediate plan to introduce polymer or plastic
currency notes to replace the existing paper notes.
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UTI
Bank's Net facility for cos
Mumbai: UTI Bank has launched its Internet banking
facility for corporates _ `Corporate iConnect'. This is
in addition to its Internet banking facility, iConnect,
for its retail customer base.
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Banks
call for Govt intervention to recover dues
Bangalore: Banks have sought Karnataka Government's
intervention in recovering dues from State-sponsored schemes.
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Borrowers
have little to complain about
Hyderabad: Is Andhra Bank out of the race for Centurion
Bank? Some officials in the bank privately confirm the
development, but none wants to go on record. Inquiries
on Mint Street indicate the public sector Andhra Bank
has not yet given its view.
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