The Hindu Business Line : Sunday, February 06, 2005

`Reasonable chance to be given to audit firms to explain role in GTB'
THE Institute of Chartered Accountants of India (ICAI) has said it would offer a "reasonable opportunity" to both PricewaterhouseCoopers and Lovelock & Lewes before coming to a judgment on their alleged misconduct in the Global Trust Bank (GTB) . More

FOREX

Forex reserves rise $291 m
THE country's forex kitty grew by $291 million to touch $129.720 billion for the week-ended January 28, as against $129.429 billion in the previous week, as per the latest RBI statistics. The rise in reserves can be attributed to a ... More

STOCKS

Indian Overseas Bank: Buy
AN INVESTMENT in the stock of Indian Overseas Bank can be considered. Among public sector banks, IOB has weathered the storm of rising interest rates relatively better. Above average business growth is also in the ... More

Kotak Mahindra Bank: Buy
INVESTMENTS can be considered in the stock of Kotak Mahindra Bank. At Rs 308, the stock is trading at a price to book value of just below 3. The valuation, which is at a premium to that of most other banks, reflects the growth expectations built ... More

DEBT MARKET

Clearing Corpn unveils sovereign bond indices
CLEARING Corporation of India (CCIL) has introduced sovereign bond indices for the domestic debt market expected to help money market participants in tracking market movements. The bond index is expected to track changes in market conditions ... More

PUBLIC SECTOR BANKS

Union Bank declares 20% interim
MUMBAI: Union Bank of India (UBI) has declared an interim dividend of 20 per cent for the financial year 2004 -05. The bank had earned a net profit of Rs 480.15 crore during the nine months ended December 2004 and plans to achieve a ... More

CORPORATE BONDS

ICICI Bonds — Long-term options are attractive
Tax Saving Bond: Avoid
Regular Income Bond: Subscribe
Children Growth Bond: Subscribe More

CREDIT MARKET

Bank credit up by Rs 3,708 cr
GROSS bank credit in the system has increased by Rs 3,708 crore to touch Rs 10,40,840 crore for the fortnight ended January 21,2005, as per the latest RBI statistics. This is inclusive of food credit, which declined by Rs 3,630 crore and ... More

FIXED DEPOSITS

BoB revises FCNR (B) interest rates
MUMBAI: Bank of Baroda has revised the interest rates on FCNR (B) deposits with effect from February 3, 2005.

BoB revises NRE term deposit rates
MUMBAI: Bank of Baroda has revised upward the interest rates on NRE term deposits with effect from February 3, 2005.

STANDARDS & BENCHMARKS

Basel II: The Duckworth-Lewis of banking
BASEL-II norms are to banking what Duckworth-Lewis is to cricket. Both are complex, mathematically inclined, enigma for the layman but still very logical and needs some intuition to understand. Duckworth-Lewis changed ... More

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