The Hindu Business Line : Tuesday, July 30, 2002

Re down 7 paise; securities weak
Mumbai: THE rupee lost seven paise against the dollar to close on Monday at 48.75/76, as against last Friday's close of 48.68. Forex dealers ascribed the weakening of the rupee short covering by dealers leading to a good amount of demand for ... More

NBFCS

ICDS unveils repayment options for investors
THE Mohandas Pai-controlled non-banking finance company - Investment Credit and Development Services (ICDS) - has proposed a set of repayment options to its investors. The company has presented the options before the Karnataka High Court ... More

TVS to make 2nd open offer for Harita Fin
AS TVS Motor Company's open offer for buying out the 50.30 per cent stake in the group company, Harita Finance Ltd, from the public has met with lukewarm response, it is mulling a second open offer. The first offer was open between April 29 and ... More

CREDIT RATING

Numaligarh Refinery debt issue gets `P1+'

PRIVATE BANKS

Lord Krishna picks 20% in Flexcel
THE Kochi-based Lord Krishna Bank has picked up a 20 per cent equity stake in Flexcel International, an Application Service Provider (ASP). Flexcel International with a Rs 20 crore equity capital is a 50-50 joint venture between the HDFC Bank ... More

IndusInd Bank net rises 53.74 pc
MUMBAI: The bank has posted a 53.74 per cent rise in net profit for first quarter ended June 30, 2002, at Rs 17.48 crore as against Rs 11.37 crore in the quarter ended June 30, 2001. Deposits rose to Rs 6,449.65 crore from Rs 5,307.93 ... More

Bank of Rajasthan Q1 net rises
THE net profit of the Bank of Rajasthan has risen marginally by 1.03 per cent to Rs 12.73 crore for the quarter ended June 30, 2002 from Rs 12.60 crore for the quarter ended June 30, 2001. "The bank did well this quarter. We have made ... More

PUBLIC SECTOR BANKS

Q1 profit numbers muted for PSBs
THE first quarter results of a handful of public sector banks reflect a return to reality after the heady days of May and June when most public sector banks reported a doubling of profits during the previous fiscal. Falling interest rates ... More

Oriental Bank Q1 net up 20.4 pc
MUMBAI: The QI net profit of Oriental Bank of Commerce (OBC) has reached Rs 102.74 crore, a 20.4 per cent increase over Rs 85.36 crore in the corresponding period in the previous year. The gross profits have gone by to Rs 198.24 crore, ... More

PNB net rises 20 per cent in first quarter
PUNJAB National Bank (PNB) has recorded a net profit of Rs 202.15 crore for the first quarter ended June 30, 2002, a 19.9 per cent rise over the Rs 168.66 crore net profit during the corresponding period of the previous year. The gross profit ... More

NON-PERFORMING ASSETS

Banks set to withdraw suits before recovery tribunals
THE Debt Recovery Tribunals (DRTs) could soon be witnessing a whole new phenomenon with lenders queueing up before them to withdraw cases filed earlier against defaulters, instead of approaching the tribunals with fresh recovery suits. Top ... More

FIXED DEPOSITS

Canara Bank cuts deposit rates
CANARA Bank has reduced deposit rates across some maturities ranging from 0.25 to 0.5 per cent. A bank release said that these rates will take effect from August. Following are the revised domestic term deposit rates: 15 - 45 days from 4.75 ... More

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Small Investor

Looking back
Jul. 21-Jul. 27
Re closes at 4½-month high

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UTI Bank told to probe failed merger with GTB

UCO Bank finalising wilful defaulters list

ATM sharing: New wave sweeping across industry

RBI dividend even before auditors are through