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Stanchart,
Union Bank ink agency trade services pact
Mumbai: Standard Chartered Bank and Union Bank
of India, on Wednesday, entered into an ‘agency trade
services agreement’ under which, all letters of credit
(LCs) issued by Union Bank of India to Asian countries,
will be done through Stanchart.
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IDBI
cuts deposit rates by 25-50 Bps
Mumbai: Taking a cue from the mid-term review of
the credit policy announced by the RBI on Tuesday, IDBI
has slashed rates on its deposit schemes, Suvidha and
Omnibus, by 25 to 50 basis points or 0.25 per cent to
0.5 per cent.
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Bank
Of Rajasthan net up 56.97% to Rs 28 crore
Mumbai: Bank of Rajasthan on Wednesday announced
a 56.97 per cent jump in net profit for the first half
of the current fiscal to Rs 28.27 crore from Rs 18.01
crore in the corresponding period previous year.
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SBT
net profit at Rs 58.6 crore in H1
Kochi: State Bank of Travancore, Kerala’s
market leader in banking, has clocked a net profit of
Rs 58.60 crore for the half year ended September 30, 2002.
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IndusInd
Bank H1 net Uu 78% to Rs 43 crore
Mumbai: IndusInd Bank (IndusInd) on Wednesday announced
a 78.36 per cent increase in net profit for the first
half of the fiscal 2002-03 to Rs 42.86 crore as compared
to Rs 24.03 crore for the same period in the previous
fiscal.
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Bajaj
Allianz premium income expected to cross Rs 300 cr
Mumbai: Bajaj Allianz General Insurance Company
(BAGIC), a joint venture between Bajaj Auto Ltd and Allianz
AG of Germany, is expecting to cross a premium target
of Rs 300 crore for the year 2002-03.
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Tata
Teleservices NCD gets `P1+(SO)'
Mumbai: Crisil has assigned a `P1+(SO)'rating to
the Rs 130-crore zero coupon non-convertible debenture
(NCD) issuance of Tata Teleservices Ltd. The rating indicates
a high degree of safety regarding the timely payment of
financial obligations on the instrument.
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Jalan
hints at changes in rural branch licensing
Mumbai: The Reserve Bank of India will soon revisit
its policy on bank branches in rural areas, with the eventual
aim of completely liberalising branch licensing norms.
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Interest
boosts SBI net
Mumbai: Increase in interest and non-interest income
helped State Bank of India (SBI) report a 34 per cent
rise in net profit to Rs 835.20 crore for the quarter
ended September 30,2002, as compared to Rs 622.26 in the
corresponding period in the previous quarter.
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Andhra
Bank plans e-Seva services
Hyderabad: Andhra Bank is planning to introduce
e-Seva services in collaboration with the Government of
Andhra Pradesh for collection of utility service payments.
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StanChart
to handle Kolkata port EDI transactions
Kolkata: The Kolkata Port Trust (KPT) has selected
Standard Chartered Bank as its collecting banker for electronic
data interchange (EDI) transactions.
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BoI
cuts PLR, deposit rates
Mumbai: Bank of India yesterday cut its prime-lending
rate (PLR) along with its deposit rates by 50 basis points.
The PLR on advances has been cut by 0.50 per cent to 11.50
per cent from 12 per cent per annum.
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