The Hindu Business Line : Tuesday, August 02, 2005

Nabard to extend farm credit project to all States
ADDRESSING the credit needs of tenant farmers, the National Bank for Agriculture and Rural Development (Nabard) has decided to extend a pilot project, launched in eight States, to the rest of the country this year. Nabard has prepared a plan ... More

OVERSEAS BORROWINGS

RBI modifies ECB norms
THE Reserve Bank of India has modified the norms for External Commercial Borrowings with immediate effect. Under the new norms, ECBs with minimum average maturity of five years by non-banking financial companies (NBFCs) from multilateral ... More

FINANCIAL PERFORMANCE

Karnataka Bank Q1 net rises to Rs 42 cr
KARNATAKA Bank Ltd has recorded a net profit of Rs 41.69 crore during the first quarter ended June 30 against Rs 38.73 crore in the same period last year, registering 7.6 per cent growth. The total income stood at Rs 288.38 crore (Rs 312.58 ... More

LIC Housing Q1 net up 20 pc at Rs 50 cr
LIC Housing Finance Ltd has posted a net profit of Rs 50.18 crore for the quarter ended June 30, up 20 per cent from Rs 41.87 crore in the year-ago period. The company sanctioned loans to the tune of Rs 1,016 crore, up 10 per cent from Rs 927 ... More

NBFCS

Shrachi Securities grows
KOCHI: The Kolkata-based Shrachi Securities Ltd has posted a growth of 41 per cent in the first quarter in total disbursements of its core products in commercial vehicles, multi-utility vehicles, cars and construction equipments. The ... More

GENERAL INSURANCE

Hyundai offer for rain damaged vehicles in Mumbai
HYUNDAI Motor India has announced a 50 per cent discount on spare parts and labour charges and has offered several free services to its customers in Mumbai , whose vehicles have been damaged by the heavy rains. According to a company press ... More

Huge motor claims may test solvency of pvt insurers — Fresh capitalisation may be needed
WITH mounting claims in the aftermath of the floods in Maharashtra and Gujarat, private sector general insurers may face severe solvency pressures during the current financial year. Sources said that the claims are expected to lead to a red ... More

PRIVATE BANKS

LKB offers rupee drawing facility at UAE
LORD Krishna Bank has entered into a rupee-drawing arrangement with Al-Razouki International Exchange Company in Dubai, facilitating Indian expatriates to remit funds back home through select branches of the bank. LKB said this facility would ... More

PUBLIC SECTOR BANKS

Uco Bank to expand branch network in AP
UCO Bank is planning to expand its branch network in the State by setting up six more branches in addition to the existing 36, according to the General Manager (Operations), Mr B.K. Das. He was speaking at a function in the main branch of the ... More

PSBs' profits take a beating in Q1
PUBLIC sector banks suffered a sharp setback in profits in the first quarter of the current fiscal. Profits for a set of 17 banks dropped 14 per cent compared to the same period in the previous fiscal. Remove State Bank of India from the ... More

GOVT BONDS

Kerala State development loan
MUMBAI: The Kerala Government has announced the sale of a 10-year Kerala State Development Loan 2015 for a notified amount of Rs 250 crore through a yield-based auction using the multiple price auction method. The auction will be ... More

Electronic matching system for gilts trading launched
THE Reserve Bank Of India's electronic order matching system for trading in government securities (like trading in shares) has been launched on its Negotiated Trading System from today. The electronic order matching system (NDS-OM) will ... More