The Hindu Business Line : Friday, June 22, 2007

FARM CREDIT
Karnataka Bank sets loan target
Karnataka Bank hopes to disburse Rs 500 crore towards agriculturesector and increase its priority sector lending to 10 per cent from its current level of about 7 per cent. The Chairman, Mr Ananthakrishna, said that growth in ... More

FINANCIAL SERVICES
SBH, UAE Exchange launching MoneyGram
State Bank of Hyderabad (SBH) in a tie-up with UAE Exchange & Financial Services will soon launch `MoneyGram', a popular foreign inward money remittance product. With this facility, it will take just 10 minutes to receive up to $2,500 from near More

DIVIDEND ANNOUNCEMENT
Lakshmi Vilas Bank to pay 7%
The board of directors of Karur headquartered Lakshmi Vilas Bank has recommended a dividend of 7 per cent for the 2006-07 fiscal against 25 per cent the earlier year. Bank sources attribute it to higher provisioning and ... More

FOREX
External borrowings becoming more expensive
Global interest rates show signs of hardening More

Rupee impact: Bluechip IT stocks slump 7-14% in Jan-June
Only HCL Technologies has risen 5.7% during this period More

Rupee gains on dollar inflows
The rupee strengthened by three to four paise on strong dollar inflows into the domestic stock markets. "Inflows due to ICICI Bank's follow-on public offer and the DLF issue has helped strengthen the home currency," said a dealer ... More

FINANCIAL PERFORMANCE
Deutsche Bank full-year net rises 73%
Deutsche Bank has posted a net profit of Rs 218.22 crore for the fiscal ended March 2007, an increase of 73 per cent from the previous year's Rs 125.92 crore. Total income increased 40 per cent to Rs 1,625.36 crore, from Rs 1,158.97 crore. ... More

GENERAL INSURANCE
Life insurance cos aim at tapping health segment
General insurance cos contribute 63% of total biz in '06-07 More

PRIVATE BANKS
Retail participation still low in ICICI Bank follow-on issue
The portion reserved for qualified institutional buyers in the ICICI Bank's FPO was subscribed 10.38 times on the third day of issue. On Wednesday, QIBs' portion was subscribed by 6.24 times. However, retail category was subscribed only by 0.11 ... More

PUBLIC SECTOR BANKS
ISO for bank security dept
The Security Department of Syndicate Bank's head office in Manipal has been awarded ISO 9001:2000 certificate. This is the first security department among all public sector banks to be ISO certified, a press release said here on ... More

GOVT BONDS
Bond prices up 10 paise
Bond prices rose about 10 paise and yields fell by one basis point driven by the surplus liquidity in the system. The yield on the 10-year-paper ended at 8.23 per cent on Thursday against the previous close of 8.24 per cent. ... More

CREDIT MARKET
Syndicate Bank's new scheme
Syndicate Bank has launched a small credit scheme tied to its Pygmy Plus 2007 branded deposit product. The loan product offers financial assistance up to Rs 1.5 lakh to customers of small means, including redemption of high-cost ... More

SHORT TERM INSTRUMENTS
Low call rates: `A case of wrong maths somewhere'
The inter-bank call rates continued to rule at the low level of 0.2-0.3 per cent for the second consecutive day. "There was surplus liquidity of around Rs 35,000-40,000 crore, but a large chunk of it has been sucked out from the system through ... More

PUBLIC OFFER
Syndicate Bank plans public issue this fiscal
To help meet Basel II norms and continue business growth More