STOCKS
Bank stocks riding on hopes of corporate credit offtake
BSE's Bankex Index has gained over 10 per cent in the last one week, the highest gain seen in any index during this period. More

CREDIT POLICY
In tune with delinking of monetary measures — Credit policy renamed
THE Reserve Bank of India will announce its next credit policy on May 18, after the new Government takes charge. The central bank on Wednesday said Dr Y.V. Reddy, Governor, Reserve Bank of India, would announce the Annual Policy Statement ... More

CREDIT RATING
Crisil reaffirms stable rating for MCH bonds
THE rating agency Crisil has reaffirmed the AA+(SO) stable rating for Municipal Corporation of Hyderabad's (MCH) Rs 82.50-crore tax-free bonds. "The reaffirmation indicates high safety in regard to timely payment of the interest and principal ... More

RBI & OTHER CENTRAL BANKS
Current account sees higher surplus of $1.8 b in Q3
The country's current account recorded a higher surplus of $1.8 billion in the third quarter of 2003-04, up from a surplus of $1.6 billion recorded in the previous quarter. In October-December 2002, the current account had registered a lower ... More

PRIVATE BANKS
Karnataka Bank opens new branch at Rohini in Delhi
MANGALORE: Karnataka Bank Ltd opened its 365th branch at Rohini in Delhi recently. A bank release said here on Thursday that the branch was inaugurated by Mr Maxwell Pereira, Joint Commissioner of Police, New Delhi Range. The ... More

PUBLIC SECTOR BANKS
BoI in tech deal with BHEL — Rural automation to run on solar energy
BANK of India is negotiating with Bharat Heavy Electricals Ltd for the supply of solar panels, using which the bank intends to power its rural branches. The main problem in computerising the rural branches is the lack of electricity, observed ... More

FINANCIAL INSTITUTIONS
SIDBI seeks RBI nod for short-term lending
THE Small Industries Development Bank of India (SIDBI) has sought the permission of the Reserve Bank of India (RBI) to offer working capital assistance to companies in the small-scale sector, its Chairman and Managing Director, Mr V.K. Chopra, ... More

IDBI cuts interest on loans to Suryalata Mills
THE Industrial Development Bank of India (IDBI) has reduced the rate of interest from the existing 13.5 per cent to 9 per cent on term loans taken by Suryalata Spinning Mills Ltd under the new textile policy. The reduced interest rate will be ... More

GOVT BONDS
Bond prices up on ample liquidity
MUMBAI: Bond prices were up by around 23 paise to 35 paise across maturities on Thursday in a market flush with liquidity. The 7.46 per cent 2014 paper opened at Rs 119.35 and got dealt up to Rs 119.60. The 8.07 per cent 2017 opened at ... More

MERGERS & ACQUISITIONS
Beyond institutional marriages — Real issues in infrastructure financing
There is no denying that infrastructure development is the need of the country today. Any move that ensures enhancement in the quality and timing of infrastructure financing would, therefore, be welcome. If it is just any other financing, the State B ank of India seems the best suited to carry on the sacred tradition. But infrastructure financing requires specialised skills and financial instruments. Is the SBI equipped for the foray? More

TRADE & LABOUR UNIONS
LIC union concerned over Deloitte report
THE first winds of discontent over the Deloitte report for restructuring of Life Insurance Corporation (LIC) has started to blow. Close on the heels of the Corporation's Board of Directors forwarding the report to the Government for its ... More

CO-OPERATIVES
Record deposit mobilisation by co-op banks in Kerala
THIRUVANANTHAPURAM: Cooperative banks and societies in the State have managed to mobilise Rs 452.04 crore during March, a new record for the month. The target fixed was Rs 400 crore. Primary cooperative societies raised Rs 36.2 crore ... More

OUTLOOK
Karnataka Bank eyes Rs 17,000-cr turnover
KARNATAKA Bank Ltd, which registered a business turnover of over Rs 14,100 crore for 2003-04, is aiming at a turnover of Rs 17,000 crore for the financial year 2004-05. Addressing the staff members of the bank at the corporate office here on ... More