Banking and Finance
Lord Krishna Bank in expansion mode
LORD Krishna Bank plans to open several branches with ATMs during the current year, including in South and West Delhi, Hyderabad, Ahmedabad, Gurgaon, Pune, Tiruvalla, Ludhiana, Jaipur, Noida, Salem, Erode and Hubli.

New revival package for weak banks by month-end
THE Ministry of Finance is working on a fresh package of measures to revitalise weak public sector banks. The plan would include recapitalisation of the banks, introduction of a voluntary retirement scheme (VRS) and technological upgradation.

RBI likely to rein in PSB private placements
TILL recently, public sector banks could take comfort in their investments in debentures and bonds showing a healthy rise year after year. No questions were asked. After all, debt investments were considered less risky when compared to investments in eq uities. Debenture investments were looked upon as harmless without having to bear the tag of ``speculation''. The placid calm may, however, end soon.

Indian Bank launches vehicle loan scheme
INDIAN Bank has launched its vehicle loan and consumer loan schemes in select cities. The schemes are being launched to ensure better credit offtake, according to a senior bank official.

ICICI Bank to open 800 ATMs by year-end
ICICI Bank plans to open about 800 ATMs across the country by the year-end. It has over 200 now.

LIC business trends indicate greater rural prosperity
ARE the benefits of economic liberalisation spilling over to the rural areas, leading to greater prosperity among the rural folk? So it would seem from figures compiled by the Ministry of Finance on the rural-urban break-up of the total business of the L ife Insurance Corporation (LIC).

NRI deposits with BoB UAE branches plunge
NRI deposits with the UAE branches of Bank of Baroda (BoB) have dropped significantly in the past six months due to the interest rate hike on dirham deposits in the local UAE banks.

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