MONEY & BANKING
INSIGHT
Appointment of directors in public sector banks — Will governance be a casualty of impracticable provisions?
When banks are transforming themselves into financial conglomerates, the unseemly haste with which the Government introduced the `equitable' amendments has left many perplexed.
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FOREX
Rupee volatile, closes tad weaker
The rupee extended its volatile journey against the dollar before ending weak as importers bought dollars. The domestic currency opened at 41.94 and appreciated intra-day to 41.63. It, however, ended the day at 41.98 against Monday's close at ...
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TCS has $ 1-b hedge cushion, says CFO
With international revenues comprising 90 per cent of Tata Consultancy Services' total revenues, the recent rise of the rupee saw a negative impact on its financials. It had a 57-basis point negative impact on its profit margin for 2006-07, and ...
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Strong rupee: Exporters want Govt to step in
Faced with lower unit value realisation due to the strengthening rupee against dollar, the exporting community has sought Government intervention to help tackle the recent turn of events at the forex market. Export organisations such as the ...
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FINANCIAL PERFORMANCE
UTI Bank net rises 39% in Q4
Buoyed by strong growth in fee income and improvement in net interest margin, UTI Bank has posted a 39.65 per cent growth in net profit to Rs 211.89 crore for the fourth quarter ending March 31, 2007, against Rs 151.73 crore for the corresponding ...
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GENERAL INSURANCE
Kadel Insurance bags more clients
Kadel Insurance Services Private Ltd has been appointed general insurance broker by the Bombay Stock Exchange (BSE) and the National Mineral Development Corporation (NMDC). The Hyderabad-based company is one of the earliest ...
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FINANCIAL MARKETS
Euro/yen: Time to sell?
Will the euro's bull run continue? Clearly, the market will be chary of driving it up beyond the existing top of $1.37.
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PRIVATE BANKS
South Indian Bank opens regional office in Palakkad
In a bid to de-centralise operations further, the South Indian Bank opened its 12th regional office at Palakkad in Kerala. The need for the new regional office emerged from the phenomenal growth of the bank as well as the need to provide faster ...
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PUBLIC SECTOR BANKS
IOB gets RBI nod for financial services arm
Indian Overseas Bank has secured the Reserve Bank of India's approval for starting a financial services subsidiary, the bank's Chairman and Managing Director, Mr T.S. Narayanasami, told Business Line on Tuesday. IOB would invest Rs 50 ...
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20 gm gold coins from Corpn Bank
Corporation Bank is foraying into the sale of 20 gm gold coin (plain make) on the occasion of this Akshaya Tritya, according to a bank release here. The pricing of the coins is on a daily basis. At present, the bank is selling gold coins of 2 ...
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GOVT BONDS
Bond prices end flat
Bond prices almost ended flat today. "The market lacked lustre as traders resisted entering the market on tight liquidity," said a dealer at a private bank. Banks borrowed over Rs 20,000 crore under RBI's repo window. Volumes on ...
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CREDIT MARKET
Oriental Bank, India Post in pact for rural lending
Pilot project in Maharashtra, Goa will lend Rs 20,000 per beneficiary
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Thiruvananthapuram C-D ratio
Thiruvananthapuram district has recorded a credit-deposit (C-D) ratio of 76 per cent at the end of the calendar year 2006, which is much high above the State average, a district level review committee of banks conducted by Indian ...
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SHORT TERM INSTRUMENTS
Call rates close higher
Call rates closed higher at 15-16 per cent on Tuesday against the previous close of 9.5-10.5 per cent. The Reserve Bank of India lent to banks Rs 20,330 crore through its repo window, while banks parked Rs 110 crore under the ...
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MERGERS & ACQUISITIONS
Merger of associates with SBI not in near future
Consolidation of banks `much on Govt agenda'
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EVENTS
RBI plans coin melas
To facilitate easy exchange of coins, the Reserve Bank of India is organising coin melas in Hyderabad. According to a release, the exchange of coins facility will be available to the general public at Rythu Bazars in Yerragadda ...
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PEOPLE
UTI Bank yet to decide on new chief
UTI Bank's board has not decided on a new chairman and managing director for the bank. The RBI had denied approval for the re-appointment of Dr P.J. Nayak, Chairman and Managing Director, UTI Bank, whose term ends on July 31. The central ...
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New Central Bank Zonal Manager
Mr P.V. Raveendran has assumed charge as Zonal Manager, Central Bank of India, Hyderabad, following the transfer of Mr K.A. Somayajulu to Chennai Zone. Mr Raveendran, who joined the bank in 1973 in Chandigarh, served in various ...
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