The Financial Express -- News

Tuesday, November 18 1997

Hudco to invest Rs 500 crore in Rajarhat township project

The Housing & Urban Development Corporation of India (Hudco) is likely to invest Rs 500 crore in the Rajarhat township project, the mass housing complex of Bengal Ambuja Housing Development Board, in the next five years.

RBI asks banking industry to brace for Y2K challenge

The Reserve Bank of India (RBI) has directed banks and financial institutions (FIs) to frame strategies to convert their computer applications on a war-footing. The banking industry will be required to invest at least Rs 200 crore to update all computer applications at the advent of the new millennium.

BoB operating profit up at RS 443 cr in H1

Bank of Baroda has clocked a 10.3% growth in its operating profit in the first half of the curent fiscal at Rs 442.60 crore -- up from Rs 401.13 crore posted in the corresponding period of 1996-97. Its non-performing assets have gone up by around Rs 50 crore in April-September this year. In March, the NPA level stood at 7.69%.

Federal Bank, ICICI tie up to provide working capital to firms

RBI allows banks to exercise voting rights for pledged shares