Exim Bank provides US$44mn loan to Senegal, Niger
New Delhi: The Export and Import Bank of India has provided loans worth US$44mn to the governments of Senegal and Niger in Africa to finance import of goods and services from India.

The Exim Bank has extended a Line of Credit (LoC) to Senegal of US$27mn for export of equipment for irrigation projects to the West African nation from India while Niger has received US$17mn for financing export of transport equipment to Niger.

The loan to Senegal and Niger are the behest of Government of India to promote export of projects by Indian companies to the African countries to boost trade ties.
Back to News Review index page  

IndusInd Bank to raise Rs.250-cr via bonds
Mumbai: IndusInd Bank has decided to raise Rs250 crore through the issue of bonds on a private placement basis. The Committee of directors has approved raising the amount through the issuance of non-convertible, redeemable, unsecured bonds, which also carry a green shoe option of Rs100 crore, the bank informed the stock exchanges.

The tenure, coupon rate and the other terms of the placement, including the timing, would be finalised by the bank in due course.
Back to News Review index page  

OBC to raise Rs.500-cr Tier II capital
New Delhi: The Delhi based Oriental Bank of Commerce (OBC) has said that it has plans to raise about Rs500-cr in Tier II capital through bonds at an appropriate time.
Back to News Review index page  

Award for Andhra Bank
Hyderabad: Andhra Bank has been received the runners up award under the 'Best Payments Initiative' category at the Indian Banks' Association (IBA) 'Banking Technology Awards 2005' function.

Every year IBA presents awards to banks for outstanding achievements in banking technology. This year, awards were given for work in areas of payments initiative, innovative technology implementation and corporate IT team among others.

The bank got the award largely because of its large ATM network and high average hits on the ATM per day. Andhra Bank currently has a network of 367 ATMs located at 122 centres in 14 States with a card base of more than 1.7 million. The average hits per day had crossed one lakh and the average daily hits per ATM in Andhra Pradesh went past 300 mark.
Back to News Review index page