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IFC
to invest $100-m a year in East Asia’s core sectors
New Delhi: The International Finance Corp, the
World Bank’s investment arm, said on Monday it would
invest around $100-$150 million a year over the next three
years on power and infrastructure in East Asia to meet
surging demand.
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ICICI
Bank keen to buy other banks’ retail business, eyes
30 per cent market share
Mumbai: ICICI Bank is eyeing acquisitions of retail
business of other banks and is likely to outsmart all
banks in this segment by posting over 100 per cent growth
at Rs 18,000 crore and raising its market share to 30
per cent by this fiscal, official sources said.
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IFCI
searches partners for Malvika Steel
New Delhi: Unwilling to write off the Rs 3,000
crore Malvika Steel in Jagdeeshpur, Uttar Pradesh, the
term-lending institution Industrial Finance Corporation
of India has approached steel giants like Tisco and SAIL
for management takeover and revival of it.
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UBI
to offer utility payment services
Mumbai: In an effort to enhance income from fee-based
services, Union Bank of India plans to offer soon to its
customers the ‘utility payment services’ in
addition to the existing service like marketing insurance
products, mutual funds, demat services etc.
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RBI
reiterates stance on NPA regularisation
Mumbai: The Reserve Bank of India on Monday reiterated
that the banks should strictly adhere to its instructions
on reclassification of NPAs if arrears of interest and
principal are paid by the borrowers in case of loan accounts.
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NHB
reduces interest rate by 2 per cent for HFCs, SCBs
Mumbai: National Housing Bank on Monday cut its
interest rate to scheduled commercial banks and housing
finance companies by two per cent across the board under
its new liberalised refinance scheme.
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Karnataka
Bank review meet
Mangalore: Karnataka Bank conducted a `review conference'
at its head office here on Monday. The conference was
attended by the bank's `regional heads' apart from other
officials and executives.
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Global
Trust Bank plans more ATMs in Coimbatore
Coimbatore: To reach out to its customers in the
residential pockets, Global Trust Bank is contemplating
to activate four more ATMs in Coimbatore by June 2003.
At present the bank has 8 ATMs here, the last of which
was inaugurated last week.
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DRT
Chennai helps recover Rs 4.54 crore
Chennai: A Lok Adalat meeting held here by the
Debt Recovery Tribunal-I, Chennai, resulted in a spot
recovery of Rs 4.54 crore and a "promise of Rs 15
lakh more within a specified period". The meeting,
held on February 1, took up 37 cases involving Rs 23.16
crore, DRT-I officials said.
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