The Hindu Business Line : Saturday, July 10, 2004

INSIGHT
Banking reforms: Govt logs out
BANKING reforms are not on the New Delhi radar. The Budget did not make a mention. Bankers are not surprised. "Life will go on. New Delhi will run the banking system and we will offer our obeisance," said the chairman of a public sector bank. ... More

FOREX
Rupee firms up
MUMBAI: The domestic currency closed upbeat on Friday, up by almost 20 paise, ending at 45.66/67 against the dollar. The rupee strengthened on back of ample supply of the greenback in the market, said dealers. Foreign banks were seen ... More

FINANCIAL PERFORMANCE
North Malabar Gramin Bank net up 43 pc
THE Kannur-based North Malabar Gramin Bank (NMGB) has posted a net profit of Rs 16.20 crore in 2003-04, an increase of 43 per cent over the previous year's profit of Rs 11.29 crore. Consequently, the reserves of the bank touched Rs 100 crore, ... More

PUBLIC SECTOR BANKS
Union Bank eyes Rs 1-lakh cr biz
HAVING achieved a balance sheet size of Rs 81,487 crore during the last fiscal, Union Bank of India seeks to achieve a business mix of Rs 1 lakh crore for the current fiscal. The UBI Executive Director, Mr K. Ratnakar Hegde, disclosed this at a ... More

GOVT BONDS
Three savings bond schemes withdrawn
MUMBAI: The Government has decided to withdraw the 6.5 per cent Savings (Non-taxable) Bonds Scheme and the two Deposit Schemes for Retiring Employees. Accordingly, the issue of 6.5 per cent Savings (Non-taxable) Bonds, 2003 and ... More

NON-PERFORMING ASSETS
Budget promise to amend Securitisation, DRT Acts — Banks breathe easy on NPAs
MUCH to the relief of bankers, the Finance Minister has agreed to amend the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (Sarfaesi) Act and even the Debt Recovery Tribunal (DRT) Act to speed up the ... More

ECONOMIC OFFENCES
Sponsor banks liable for RRBs' show: Minister
THE Lok Sabha was informed today that the Government was actively considering a legislation to check serious cases of frauds in the banking industry as the existing Serious Fraud Office is functioning under the Department of Company Affairs to ... More

Cross Currency Rates

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At last, a Budget with a social conscience?

BPO tax issues remain unresolved: Nasscom

Banking reforms: Govt logs out

Monsoon plays truant for yet another week

DD tests DTH, plans free-to-air service

Looking back
Jun. 27-Jul. 3
Forex reserves rise by $587 m

Bonds under pressure on forex outflows, inflation

Indian Bank channels credit direct to farmers

PSU insurers unhappy with TPAs — Mounting claims ratio, poor customer service

Fed rate could go up 50 bps

Current account surplus doubled last fiscal

Increased capital investment flows boost forex kitty

LIC targets Rs 11,500-cr premium income

Treasury operations to weigh on banks' Q1

PSU bank appointments: An archaic system