The Hindu Business Line : Wednesday, February 02, 2005

Corporates mull strategies to hedge forex risks
CORPORATE India seems to have started watching the changes in the forex market. Even though the panic buttons have not yet been pressed, companies have started looking at various strategies to keep their bottomlines intact. The dollar ... More

Rupee tad higher; gilts lacklustre
MUMBAI: FII inflows underpinned the rupee on Tuesday, lifting it to 43.70 levels at the close, up 2 paise from its previous close of 43.72. "Sentiment in the rupee was upbeat on expectations of healthy FII inflows in the coming days," ... More

FINANCIAL PERFORMANCE

Srei profits rise
KOLKATA: Srei Infrastructure Finance Ltd, formerly Srei International Finance Ltd, posted a 114 per cent rise in PBT in the third quarter of 2004-05 ended on December 31, 2004. According to the un-audited result, which was taken on ... More

CREDIT RATING

`CARE AA' for BoM bonds

RBI & OTHER CENTRAL BANKS

FEMA violations: Revised RBI procedures
THE Reserve Bank of India, in consultation with the Central Government, has reviewed the procedures for compounding of contravention under the Foreign Exchange Management Act (FEMA), in order to minimise transaction costs. The central bank said ... More

PUBLIC SECTOR BANKS

PSBs resist Govt demand for higher dividend
PUBLIC sector banks have begun resisting the Finance Ministry's directive seeking higher dividends from all of them. The Ministry of Finance had sought higher dividends from the banking sector for the current fiscal to bolster non-tax revenues. ... More

Bank of India mulls branches in China, SAARC region
BANK of India is now contemplating to upgrade its representative offices in China and SAARC countries. (It has 19 branches outside India and three representative offices.) The bank's Executive Director, Mr M. Balachandran, said that its ... More

NON-PERFORMING ASSETS

Banks in a fix over Keltron dues
THE continuing uncertainty over settlement of the long-pending dues from the public sector Kerala State Electronics Development Corporation (Keltron) has put the creditor-banks in a fix. The failure of the State Government to take a decision on ... More

FIXED DEPOSITS

SBT increases NRE/FCNR rates
STATE Bank of Travancore (SBT) has raised the interest rates on NRE and FCNR term deposits from February 1. The interest rates for FCNR term deposits in major currencies have also been revised. The interest rates for RFC deposits for a ... More

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