MONEY & BANKING
FOREX
Rupee weaker; bonds decline
MUMBAI: THE rupee closed at 46.09 against the dollar on Monday, weaker by about 14 paise against Friday's close of 45.95. Though the domestic currency opened stronger, heavy demand for dollars from oil companies caused it to move lower, ...
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FINANCIAL PERFORMANCE
HDFC net up 22 pc in Q1
HOUSING Development Finance Corporation has reported a 21.9 per cent increase in net profit, year on year, for the quarter ended June 30, 2004. The company reported a net profit of Rs 204.62 crore for the quarter against Rs 167.76 crore in the ...
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Syndicate Bank net climbs 23 pc; plans tier II bonds
SYNDICATE Bank's net profit rose 23 per cent to Rs 125.24 crore during the first quarter of 2004-05. Total income too rose nearly 23 per cent to Rs 1,075.57 crore. At a press conference, the bank's Chairman and Managing Director, Mr Michael ...
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LIFE INSURANCE
ICICI Prudential opens Secunderabad branch
HYDERABAD: ICICI Prudential Life Insurance on Monday inaugurated its office in Secunderabad, the second branch in the twin cities and fifth in the State. The insurance company currently has branches in Hyderabad, Guntur, Vijayawada and ...
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PRIVATE BANKS
City Union Bank joins RTGS
PUBLIC SECTOR BANKS
Dena Bank, M&M arm sign pact
MUMBAI: DENA Bank has signed a memorandum of understanding (MoU) with Mahindra Gujarat Tractor Ltd (MGTL), a subsidiary of Mahindra & Mahindra (M&M) Ltd, for extending financial assistance to farmers buying tractors manufactured by the ...
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SBH to restore monument
HYDERABAD: The State Bank of Hyderabad will spend Rs 6 lakh to restore the Gunfoundry monuments, close to its head office buildings in the heart of the city, to its past glory. Gunfoundry is a protected monument of the Department of ...
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FIXED DEPOSITS
Tax on NRI deposits may hit inflow from Gulf
BANKERS in the UAE are expressing concern over the possible erosion of NRI deposits in the short and medium-term following the recent decision to tax interest on NRE deposits, even as the banks here are being flooded with enquiries by NRI ...
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REGULATORY BODIES & RULINGS
IRDA panel on Institute for Surveyors set up
THE Insurance Regulatory and Development Authority (IRDA) has constituted an ad-hoc committee for the purpose of setting up an independent Institute of Surveyors and Loss Assessors (ISLA). According to the IRDA Chairman, Mr C.S. Rao, the ...
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CO-OPERATIVES
Prudential Bank posts operating profit of Rs 11 cr
PRUDENTIAL Bank, the Hyderabad-based urban cooperative bank, has announced that it has finalised its profit and loss account and balance sheet for the year ended March 2004. In a press release here on Monday, the bank's Managing Director, Mr ...
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Cross Currency Rates
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