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IDBI
sees Rs 5,000 cr in FDs, current A/c in universal mode
Mumbai: IDBI has projected that, after becoming
a commercial bank, current account and fixed deposits
would contribute about Rs 5,000 crore to Rs 7,000 crore
in the initial two years.
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Bank
Of Rajasthan to sell LIC MF units
New Delhi: Bank of Rajasthan Ltd is to sell mutual
fund products of LIC Mutual Fund. A memorandum of understanding
to this effect is likely to be signed between BoR’s
managing director Kali Mohan Bhattacharya and LICMF’s
chief executive officer MR Murali on February 1.
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OBC
clocks 57 per cent rise in gross profit in April-Dec
New Delhi: Oriental Bank of Commerce clocked a
56.7 per cent rise in gross profit during April-December
2002. Its gross profit stood at Rs 832 crore during this
period, against Rs 531 crore in the corresponding period
of 2001-02.
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RBI
asks dealers not to give forex
Mumbai: The Reserve Bank of India has directed
all authorised forex dealers not to release any foreign
exchange to the sponsors of the World Cup cricket event
without its permission.
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SBH
nine-month net profit up 17.5 pc
Hyderabad: State Bank of Hyderabad (SBH), one of
the associate banks of State Bank India (SBI), has announced
12.2 per cent growth in gross profit and 17.53 per cent
in net profit for the nine-month period of the current
fiscal year ended December 31, 2002.
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Ashok
Leyland Fin board clears debenture issue
Chennai: The board of directors of Ashok Leyland
Finance on Friday cleared a proposal to raise Rs 200 crore
through private placement of debentures.
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DCA
allows insurers to revise a/cs
New Delhi: The Department of Company Affairs (DCA)
has permitted insurance companies to reopen and revise
their accounts in order to comply with technical requirements
of any other law, even after their adoption in the annual
general meeting and filing with the Registrar of Companies
(RoCs).
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HSBC
`cheers' for India
New Delhi: The Hongkong and Shanghai Banking Corporation
(HSBC), recently launched a multi-city, multi-channel
promotional campaign, called "I cheer for India"
in connection with the forthcoming World Cup in South
Africa.
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Union
Bank bond issue gets `AA+'
Mumbai: The Rs 400-crore Union Bank of India bond
issue has received `AA+' rating from the credit rating
agency, Crisil.
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