Banking and Finance
Bank staff threaten stir against privatisation
The leaders of the United Forum of Bank Unions (UFBU), the body of nine different unions of bank employees and officers, announced here today their resolve to observe one day's token strike either at the end of this month or early next month. This is in protest against the government's plan to bring down its stake in public sector banks to 33 per cent and to introduce voluntary retirement scheme for employees and officers in these banks.

Can Fin sets Rs 360-cr sanctions target
VIJAYWADA: Can Fin Homes Ltd, sponsored by the Canara Bank, has set itself a target of Rs. 360 crores housing loan sanctions and Rs. 300 crores disbursement during the current financial year and is confident of achieving the targets, Mr. G. Umesh She noy, the Managing Director, has said.

PSB hikes PLR to 12.75 pc
NEW DELHI: Punjab and Sind Bank (PSB) has hiked its prime lending rate (PLR) from the earlier 12.25 per cent to 12.75 per cent with effect from August 1.

IRDA invites registration applications
NEW DELHI: The Insurance Regulatory and Development Authority (IRDA) has decided to throw open the window for inviting applications for registration from private insurance companies from August 16, 2000.

Canara Bank plans IPO by Oct-end
CANARA Bank plans to go in for its maiden public issue by Diwali and is currently in the process of obtaining the mandatory SEBI, RBI and Government clearances required to go public.

GTB ties up with BPL Mobile for mobile banking
GLOBAL Trust Bank Ltd (GTB) and BPL Mobile Communications Ltd announced the signing of an agreement to launch mobile phone banking shortly in Mumbai. The facility would be powered by software being provided by Infosys Technologies.

ICICI launches online moneymanager
ICICI Ltd on Thursday launched icicimoneymanager.com _ a fully integrated offering on banking, personal finance and investment services on the Net.

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