HSBC to spend $150 million in India operations
Mumbai: HSBC will infuse $150 million (Rs 720 crore) into its Indian operations by the end of the current financial year to meet regulatory changes that come into effect in April 2003.
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Private banks outperform PSU peers in Q2 profitability
Mumbai: In terms of profit after tax to main income ratio, private sector banks continue to outperform public sector banks.
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RBI allows banks to enter forward markets in gold
Mumbai: The Reserve Bank of India has permitted authorised banks to enter into forward trading in gold thereby formally initiating an inter-bank market for gold while also moving a step further towards the much-awaited gold futures.
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RBI directive to banks on exporters' packaging credit
Mumbai: The RBI on Friday directed banks to allow exporters to repay / pre-pay packaging credit, whether availed off in rupees or in foreign currency out of the balances in Exchange Earners Foreign Currency account, in line with its announcements in the credit policy.
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Uco Bank cuts interest rates
Kolkata: Uco Bank has revised the rates of interest on domestic deposits as well as their prime lending rates. The new rates will be effective from 7 November 2002.
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SC approves SBI-NHB deal on 1992 transaction dues
Mumbai: In a major settlement relating to the securities scam, the Supreme Court on Friday approved a deal in which State Bank of India agreed to take back only Rs 611 crore of the Rs 707 crore it gave to National Housing Bank way back in 1992.
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