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IDBI
quarterly net rises 14 per cent to Rs 40 cr
Mumbai: Industrial Development Bank of India has
posted a 14.29 per cent rise in its net profit for the
quarter ended December 2002 at Rs 40 crore, backed by
a deferred tax credit to the tune of Rs four crore.
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Global
Trust Bank net dips to Rs 8.8 crore
Hyderabad: Global Trust Bank has reported a net
profit of Rs 8.79 crores for the three-months ended December
2002 as against Rs 8.91 crore posted for the same corresponding
period last year.
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Union
Bank conducts survey on resuming Mid-East operations
Mumbai: Union Bank of India is conducting a survey
to restart its foreign operations in the Middle East after
a lapse of five years of exiting foreign operations.
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Capital
a/c convertibility pangs
New Delhi: Reflecting their new-found confidence,
the Government and RBI have now allowed residents - both
individuals and corporates - to invest in specified foreign
financial assets.
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CMC
wins Central Bank order
Mumbai: CMC Ltd, a Tata Group company, has announced
that it has won a multi-crore, total branch automation
(TBA) order from the Central Bank of India.
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Andhra
Bank rules out Centurion takeover - Retailing helps lift
net up 141 pc
Hyderabad: The State-owned Andhra Bank has dropped
its plan for a possible takeover of Centurion Bank and
will not seek inorganic growth for the "time being".
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Vijaya
Bank net profit jumps 19 pc
Hyderabad: The state-owned Vijaya Bank has posted
a net profit of Rs 52.60 crore for the December quarter
of the current financial year, up 19.4 per cent from Rs
44.05 crore a year ago and 39.37 per cent from Rs 37.74
crore sequentially.
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LIC
may relaunch Jeevan Sneha
Coimbatore: The Life Insurance Corporation is likely
to reintroduce shortly the `Jeevan Sneha' policy which
is one of the several assured returns schemes it had withdrawn
from the market a year ago.
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RBI
tightens norms for bills discounting
Mumbai: The Reserve Bank of India has permitted
banks to sanction limit for bills discounting to borrowers
in accordance with the loan policy as approved by their
board of directors.
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