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Total
investment of SCBs rises to Rs 5,68,346 crore
Mumbai: The total investments of scheduled commercial
banks increased to Rs 5,68,346 crore as on March 31, 2002,
compared to Rs 4,80,488 crore in previous fiscal, according
to the latest RBI bulletin.
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RBI
lifts ceiling on EEFC funds for trade-related loans
Mumbai: Exporters now can grant trade related loans/
advances without any limit from their exchange earners'
foreign currency accounts to their overseas importer customers.
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IDBI
merger with IDBI Bank closer to reality
Mumbai: The issue of IDBI possible merger with its
banking arm has taken a full circle. After rejecting the
merger proposal for over a year, the FI is set to go in
for merger with its banking subsidiary, IDBI Bank, as
part of its conversion into a corporate bank, as it would
take shape after transformation.
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SBI
sets Rs 500 crore for IT
Mumbai: State Bank of India has earmarked Rs 500 crore
on information technology for the fiscal 2003-04, chairman
AK Purwar said, after inaugurating the 'single window
system' at its Gateway of India branch in Mumbai.
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General
insurance cos to face shortage of devt officers soon
New Delhi: The house marketing force of the general
insurance companies in India is heading for an acute shortage
of development officers with "Development Officers
Amended Service Scheme 2002" coming into effect soon.
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TAIB
Bank offering for NRIs
Mumbai:
Bahrain-based
foreign institutional investor TAIB Bank yesterday launched
its portfolio management Service (PMS) in India aimed
at domestic and non-resident Indians.
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IIB
tie-ups for training
Kolkata: The Indian Institute of Bankers (IIB), which
is into its platinum jubilee year, has tied up with a
couple of international institutions to ramp up its training
programmes.
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Exim
Bank extends $5-m line of credit to Lanka bank
New Delhi: Export-IMmport Bank of India (Exim Bank)
and Hatton National Bank (HNB) Ltd of Sri Lanka have signed
an agreement for a line of credit of $5 million from Exim
Bank to HNB, to support India's exports to Sri Lanka.
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Corpn
Bank cuts FCNR (B) rates
Mangalore: Corporation Bank has revised its interest
rates on FCNR (B) deposits with effect from February 14.
This downward revision of interest rates will be applicable
to FCNR (B) pound deposits.
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Escorts
debt issues marked down
Mumbai: Crisil has downgraded Escorts Ltd's Rs 150-crore
non-convertible debenture issue to BBB from A-. The Rs
20.46-crore non-convertible debenture issue has also been
marked down to BBB from A-.
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