MONEY & BANKING
OVERSEAS BORROWINGS
HDFC to seek nod for external borrowings
HOUSING Development Finance Corporation (HDFC) will move an enabling resolution at its upcoming annual general meeting (AGM) seeking shareholder permission for making external commercial borrowings (ECB) . The company's AGM is usually held a ...
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FOREX
Rupee unchanged; gilts lacklustre
MUMBAI: The domestic currency closed at 44.66/67 on Friday, fairly unchanged from Thursday's closing levels. After opening the day at 44.66 the rupee slipped to an intra-day low of 44.74 on the back of some importer and corporate driven ...
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INFORMATION TECHNOLOGY
PNB goes live with real time settlement
NEW DELHI: Punjab National bank (PNB) on Friday announced that it has gone live with Real Time Gross Settlement (RTGS). Introduction of RTGS would enable instant transfer of funds between banks and institutions. PNB has said that it ...
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FINANCIAL PERFORMANCE
SBM net up 52%; to pay 60 pc
STATE Bank of Mysore has reported a net profit of Rs 176.38 crore for the year 2003-04, up by 52 per cent over the last fiscal. It has also recommended a 60 per cent dividend. SBM's aggregate deposits grew 23.52 per cent during the fiscal to ...
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Magma Leasing PAT more than doubles in '03-04 — Ties up funds for new business of Rs 1.352 cr
MAGMA Leasing Ltd has recorded a 130 per cent increase in its profit after tax at Rs 17.62 crore for the year ended March 31, 2004, up from the Rs 7.65 crore achieved in 2002-03. The company, involved in financing of cars & multi-utility ...
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Dena Bank Q4 profit falls to Rs 58.39 cr
HIGHER provisions during the last fiscal have led Dena Bank Ltd to report a lower net profit for the fourth quarter, even as the bank's net profit jumped by 102 per cent for the financial year ended March 31, 2004. The bank's net profit for the ...
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HDFC net up 24.6% in Q4; to pay Rs 13.5
HOUSING Development Finance Corporation has reported a 24.6 per cent increase in net profit, year-on-year, for the quarter ended March 31, 2004. Net profit increased to Rs 297.97 crore (Rs 239.19 crore). Income from operations amounted to Rs ...
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HOUSING FINANCE
HDFC: Lower repayments prop up growth
Higher contribution from fee income and profits on sale of investments has been major factors in the latest year.
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CONSUMER FINANCE
Canara Bank signs MoU with Bajaj for auto finance
CANARA Bank has announced that it has signed a memorandum of understanding (MoU) with Bajaj Auto Ltd to finance Bajaj two-wheelers. In a press release here, the bank said as per the MoU, Canara Bank would offer loans for purchase of Bajaj ...
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GENERAL INSURANCE
Muthoot signs MoU with ICICI Lombard
THE Muthoot Group, one of the leading non-banking finance companies, has signed a memorandum of understanding with ICICI Lombard to foray into the general insurance distribution sector. The Muthoot Group has been serving as the corporate agent of ...
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PRIVATE BANKS
`UTI Bank largest arranger for debt' — Non-SLR borrowings growth at 8 pc
UTI Bank has emerged as the largest arranger for debt in the domestic markets for financial year 2003-04, by arranging placements worth Rs 17,971 crore through 67 issues, according to a report by financial research firm Credence Analytics. UTI ...
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NON-PERFORMING ASSETS
ARCIL names ITCOT as resolution agent for Maharashtra, Gujarat
ARCIL has appointed the Industrial and Technical Consultancy Organisation of Tamil Nadu (ITCOT) as its resolution agent for recovery of bad loans in Maharashtra, Gujarat and Goa. ARCIL is the first asset reconstruction company (ARC) in India ...
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CREDIT CARDS & DEBIT CARDS
ICICI Bank launches co-branded credit card with Ebony
ICICI Bank Ltd has announced the launch of ICICI Bank Ebony co-branded credit card in collaboration with Ebony, a retail chain in North India. This card is a variety of International Sterling Silver Card of ICICI Bank. The ICICI Bank-Ebony ...
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Cross Currency Rates
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