MONEY & BANKING
FOREX
Forex reserves up $89 m as inflows decelerate
FOREX inflows have decelerated for the week ended May 7, 2004. Net accretion during the week was a mere $89 million as against a growth of $611 million in the week ended April 30,2004, as per the latest RBI statistics. As on the week ended May ...
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FINANCIAL PERFORMANCE
PNB net rises 32% at Rs 1,109 cr
PUNJAB National Bank (PNB) has recorded net profit of Rs 1,108.69 crore for 2003-04, a 31.6 per cent jump over the previous year's net of Rs 842.20 crore. The bank's operating profit rose by 34.7 per cent to Rs 3,120.86 crore from Rs 2,317.29 ...
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Lord Krishna Bank's net up 14 per cent
THE net profit of Lord Krishna Bank has grown by 14.32 per cent to Rs 26.35 crore for the year 2003-04 from the previous year's Rs 23.05 crore. Total deposits with the bank has grown by 39 per cent to Rs 2,311 crore (Rs 1,663 crore), while the ...
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Dhanalakshmi Bank net up at Rs 17.5 cr
THE net profit of the Thrissur-based Dhanalakshmi Bank has grown to Rs 17.48 crore (Rs 15.02 crore) for the year 2003-04. The bank has also made a provision of Rs 8.67 crore towards VRS for its employees. The total deposits with the bank have ...
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PRIVATE BANKS
ICICI Bank to expand presence in UK, Canada
THE country's second largest bank, ICICI Bank is trying to get a bigger foothold in the UK and Canada. It already has presence in the financial capitals of London and Toronto but is now planning to open branches in specific NRI pockets such as ...
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NON-PERFORMING ASSETS
Clean-up drive by public sector banks — NPA proportion set to drop in 2004-05
BANK balance sheets seem set to wear a squeaky clean look at the end of the current fiscal. The clean-up drive initiated by the public sector banks is set to culminate in a number of them reporting zero net non-performing assets (NPA) in 2004-05. ...
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CREDIT MARKET
Bank credit dips by Rs 141 cr
GROSS bank credit in the system declined for the second consecutive fortnight in April. Bank credit dipped by Rs 141 crore during the fortnight ended April 30, 2004, to touch Rs 8,65,080 crore, as per the latest Reserve Bank of India (RBI) ...
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REGULATORY BODIES & RULINGS
Move to check discrepancies — IRDA gets tough with agents training institutes
AFTER taking action against erring broking firms, the Insurance Regulatory and Development Authority (IRDA) has now turned its attention on to the institutes that train insurance agents. Finding discrepancies in several insurance agents ...
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Cross Currency Rates
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