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UTI
Bank to rope in strategic ally only by March '03
Mumbai: UTI Bank is expected to find a fresh strategic
investor only by the end of March '03. This would pave
the way for infusion of additional capital into the bank
through the preferential route.
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SBISA
plans strike over job outsourcing in foreign dept
Kolkata: The State Bank of India Staff Association
has threatened to go in for agitational programmes which
may even boil down to a 24-hour strike over the issue
of the outsourcing of a job in the bank’s foreign
department in Kolkata.
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RBI
not to cut repo rate as of now, says Dr Jalan
Mumbai: The Reserve Bank of India governor Dr Bimal
Jalan on Friday said the apex bank has not been contemplating
any cut in the 5.5 per cent repo rate as of now.
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Derivative
products to be mark-to-market on monthly basis
Mumbai: The Reserve Bank of India has asked all
banks to mark-to-market the derivative products at least
on a monthly basis according to internal methods of determining
the marked to market value of the derivative products.
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PSB
reduces PLR by 0.5 per cent
New Delhi: Punjab & Sind Bank has decided to
reduce prime lending rate by 0.5 per cent to 11.5 per
cent along with that for housing and consumer loans from
Saturday. PLR would be slashed from 12 per cent to 11.5
per cent, the bank said in a release.
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Gujarat
bodies' bonds downgraded
Mumbai: CARE has downgraded the ratings assigned
to the outstanding bond issues of Sardar Sarovar Narmada
Nigam Ltd (aggregate amount: Rs 4,327 crore); Gujarat
Electricity Board (Rs 1,750 crore); and Gujarat Industrial
Investment Corporation Ltd (Rs 149 Crore0 from CARE A
(SO) (structured obligation) to CARE BBB+ (SO). CARE also
downgraded the ratings of the outstanding bond issues
of Gujarat Sate Road Transport Corporation (Rs 550 crore)
to CARE BB (SO)
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M&M
Financial PTC
Mumbai: Mahindra & Mahindra Financial Services
Ltd's Rs 76.16-crore pass-through certificates (PTCs),
issued under its securitisation programme, have been assigned
the `AAA' rating by Crisil.
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Bank,
corporate bonds soon in repo market
Mumbai: Binds of public sector banks and corporates
are expected to be introduced in the repo market in two-three
months.
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Indian
Bank takes possession of assets of 2 firms
Chennai: Indian Bank on Friday took possession
of a large number of vacant plots in two suburbs of Chennai
for the recovery of dues from two companies under the
Securitisation and Reconstruction of Financial Assets
and Enforcement of Security Interest Ordinance 2002
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Corp
Bank's Lok Adalat
Mangalore: The Mangalore-based public sector Corporation
Bank recently conducted an exclusive `Lok Adalat' at its
corporate office here for the settlement of disputes relating
to `non-performing assets'.
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Corpn
Bank, New India `satisfied' with MoU progress
New Delhi: New India Assurance and Corporation
Bank have both `expressed satisfaction' on the progress
achieved so far in `realising the various terms' of the
memorandum of understanding signed between the two.
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Dena
Bank in pact with Nabard for co-financing
Mumbai: Dena Bank is the second bank to enter into
a Memorandum of Understanding (MoU) with National Bank
for Agriculture and Rural Development (Nabard) for co-financing.
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