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OBC
net jumps 26% in H1
New Delhi: Focusing on recovery of bad loans and
keeping down its deposit growth to 1 per cent, Oriental
Bank of Commerce has clocked a 37 per cent increase in
its gross profit during the first six months of the current
fiscal.
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GIC
to meet General Insurers today
New Delhi: In the first-ever such interaction,
the national reinsurer, General Insurance Corporation,
is meeting representatives of all general insurance companies
under the aegis of the Irda.
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IBA
expects roadmap for CRR reduction in credit policy
Kolkata: The Indian Banks Association has urged
the Reserve Bank of India to provide a roadmap for a phased
cut in the cash reserve ratio from the present 5 per cent
to 3 per cent, even as it has joined the clamour for reducing
the saving bank deposit rate by 1 per cent from the existing
4 per cent.
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Wilco
solution for Spanish bank
New Delhi: Wilco International, a subsidiary of
Automatic Data Processing, Inc, has announced that it
has deployed its Gloss solution for securities and corporate
actions processing for La Caixa, Spain's largest savings
bank.
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Repayment
to depositors from Dec
Chennai: The Chairman and Managing Director of
Kothari Orient Finance, Pradip D. Kothari, has reiterated
his commitment to begin repayment of deposits from December.
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Banks
cutting back deposits at short-end
Mumbai: Bond markets eased off and yields went
up slightly with profit-taking while uncertainty over
the cut in the repo rate in the busy season credit policy
announcement dominated sentiment. Ten-year yield to maturity
(YTM) as a result rose to 7.07 per cent up last weekend,
upfrom the previous weekend's 7.05 per cent on a weighted
average basis.
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Centurion
Bank does cleaning-up, trims net loss
Mumbai: Following a clean-up of its balance sheet,
Centurion Bank Ltd has reported a lower net loss of Rs
13.40 crore for the quarter ended September 30, 2002,
as compared to a net loss of Rs 31.24 crore in the corresponding
period in the previous quarters.
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Bankers
bristle at charge over low credit-deposit ratio
Kochi: The banking community in Kerala, which has
come under a fresh bout of attack by the political establishment
holding it responsible for the persisting low credit-deposit
ratio in the State, has denied that deposit monies are
being diverted for lending outside.
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Ministry,
RBI in talks on PNB-Nedungadi merger
New delhi: As a first step towards the merger of
Nedungadi Bank Ltd (NBL) with Punjab National Bank, the
Government and the Reserve Bank of India (RBI) have initiated
talks for preparing a formal scheme for the purpose.
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