MONEY & BANKING
FOREX
Forwards move up; gilts range-bound
MUMBAI: The rupee on Wednesday closed three paise weaker at 45.43/44 in its value against the dollar against Tuesday's close of 45.40/41. The domestic currency opened at 45.40/41, touched an intra-day high of 45.3850 and closed at the ...
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STOCKS
FIIs buying SBI shares at premium
AT a time when the stock of State Bank of India (SBI) is quoting at an all-time high, foreign institutional investors (FIIs) are paying a premium of between 10 per cent and 17 per cent for shares of the country's largest bank. Brokers said ...
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FINANCIAL PERFORMANCE
Corpn Bank net dips 25 pc in Q3; to pay 30 pc interim
LOWER treasury income coupled with increased provisioning has led to a 25.38-per cent dip in the net profit of Corporation Bank Ltd for the third quarter ended December 31, 2003. The bank recorded a net profit of Rs 113.28 crore during the ...
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Q3 net up 115 pc — Allahabad Bank to invest Rs 50 lakh in UTI's ARC
ALLAHABAD Bank will acquire 10 per cent equity stake in the asset reconstruction company being floated by Unit Trust of India. "We will invest Rs 50 lakh in UTI's ARC, which will have an equity base of Rs 5 crore," said Mr O.N. Singh, CMD of ...
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HOUSING FINANCE
IDBI Home Fin cuts loan rates
MUMBAI: IDBI Home Finance Ltd (IHFL) has cut home loans rates by 0.25 per cent across all maturities. The revised variable rate for loans up to five years would be 7.5 per cent, above five years and up to 10 years eight per cent and ...
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PUBLIC SECTOR BANKS
Punjab National Bank pays Rs 53 cr interim
FOREIGN BANKS
Bank of America to set up ITES centre in Hyderabad
JOINING a string of multinational companies that located their centres in Hyderabad, Bank of America, the third largest bank in the US, and Kanbay Inc, have decided to set up their strategic centres in the city. "The banking major will set up ...
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FINANCIAL INSTITUTIONS
Merger not on IDBI radar now
THE possibility of a merger of the Industrial Development Bank of India (IDBI) with a public sector bank now appears to be remote. Top officials of the Ministry of Finance who have been steering IDBI restructuring process said that there was ...
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IFC offloads further stake in Rain Calcining
CASHING in on the bull run in the Indian capital market, the International Finance Corporation (IFC), Washington, has further offloaded its holding in Rain Calcining Ltd (RCL). RCL has informed the stock exchanges on Wednesday that it has ...
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PEOPLE
Rajan to head operations of HDFC Bank
MR A. RAJAN, CEO of Flexcell, a joint-venture between i-flex Solutions and HDFC Bank, is slated to join as Head of Operations in HDFC Bank. Mr H. Srikrishnan, currently Head of Operations and Transactional Banking, is soon to quit and join the ...
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Cross Currency Rates
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