NATIONAL UK based Inatech to expand operations in India Inatech, a UK based Oracle Certified e-business partner specializing in implementation of Oracle applications and Oracle technology solutions, today (July 26, 2004) announced that it will expand its operations in India to increase its technological prowess and build delivery solutions to cater to global customers.
Govt order on fuel prices lifts Sensex; up 45 points The Government's decision to grant oil PSUs (Public Sector Undertakings) limited freedom to fix fuel prices prompted a smart stocks rally helping Sensex end higher by 45 points today (July 26, 2004) even as the moratorium imposed on Global Trust Bank (GTB) had turned the heat on bourses during morning trading.
Sonata net profits up 45 %; to increase headcount Sonata Software today (July 26, 2004) reported a net profit of Rs 3.69 crore in the first quarter ended June, up by 45 per cent over Rs 2.54 crore reported during the same period last year.
GTB crisis: RBI may hike permitted withdrawal limit Reserve Bank of India (RBI) today (Jul 26, 2004) said that it is open to hiking the ceiling on permitted withdrawals from the current limit of Rs 10,000 for depositors of Global Trust Bank (GTB), which has been placed under a three-month moratorium.
GTB to be merged with OBC; FM assures depositors Government and RBI (Reserve Bank of India) today
(July 26, 2004) swung into action to deal with the crisis being faced by the Global Trust Bank, which would be merged with financially strong public sector Oriental Bank of Commerce.
Did you withdraw money from GTB today? Account holders with Global Trust Bank are making beeline before its branches spread all over India. Panic driven depositors were busy withdrawing whatever money they could. Depositors and investors seen anxiously inquiring what would happen to their deposits and fate of so many transactions kept on hold by the Bank.
Oriental Bank of Commerce to take over GTB Oriental Bank of Commerce today (Jul 26, 2004) announced it would take over the troubled Global Trust Bank (GTB) facing severe financial problems that had prompted the RBI to impose a three-month moratorium.
