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Hudco
doubles sanctions to infrastructure projects
New Delhi: Housing and Urban Development Corporation
sanctions for infrastructure projects have more than doubled
to Rs 10,142.56 crore in the current year compared to
Rs 5,098 crore last year.
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Lack
of demand forces TIIC to scrap two finance schemes
Chennai: The Tamil Nadu Industrial Investment Corporation
Ltd has dispensed with the hire purchase and leasing finance
schemes with effect from January 28.
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SBI
buys over 1 per cent equity stake in DFHI from IDBI
Mumbai: The State Bank of India has bought 24,94,850
equity shares in Discount and Finance House of India Ltd
from Industrial Development Bank of India for Rs 315 per
share.
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ICICI
Bank term deposits get highest safety rating
New Delhi: Credit rating agency Icra assigned the
highest safety rating of 'MAAA' to ICICI Bank's term deposit
programme and reaffirmed the highest safety 'A1+' rating
to certificate of deposits for the enhanced amount of
Rs 3,000 crore.
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Japan
Banks'funding drive strains family ties
Mumbai: Japan's biggest banking group, Mizuho Holdings,
is finding that out as it goes about raising a massive
$7.3 billion in funds from its Group firms to boost capital
levels that have been left looking thin by a government
crackdown on bad loans.
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Punjab
National Bank to reduce net NPAs to 5 per cent by 2005
New Delhi: Punjab National Bank, one of the leading
nationalised banks, was all set to bring down its net
non-performing assets to international standards, having
maintained a consistent track record of profitability,
PNB chairman, SS Kohli said
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Norms
tightened for inter-branch reconciliation
Mumbai: The Reserve Bank of India has decided to reduce
the time period allowed to banks for making provisions
against the net debit balance in the inter-branch accounts
from one year to six months from the year ending March
31, 2004.
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UBI
plans offices in 3 Gulf nations
Mumbai: Union Bank of India (UBI) is in the process
of setting up representative offices abroad - at United
Arab Emirates (UAE), Sultanate of Oman and Qatar. The
plan is expected to crystallise within the next 3- 5 months.
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Corpn
Bank cuts FCNR (B) rates for select periods
Mangalore: Corporation Bank has reduced interest rates
for select tenures on FCNR (B) deposits with effect from
February 28. While the interest rate on dollar deposits
for tenure of one-year to less than two years remains
at 1.10 per cent, the interest rate for a period of two
years to less than three years and for three-year dollar
deposits are 1.55 per cent (1.65 per cent) and 2.05 per
cent (2.20 per cent). FCNR (B) deposits are currently
accepted in three currencies - the dollar, pound and euro.
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SBI
bets Rs 1,000 cr on venture with Maruti
New Delhi: State Bank of India has taken an exposure
of Rs 1,000 crore for the current financial year under
the SBI Maruti Finance scheme, a strategic tie-up between
the largest public sector bank and Maruti Udyog, the country's
largest passenger car manufacturer in India.
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