The Hindu Business Line : Saturday, January 21, 2006

Forex reserves up $158 million
THE foreign exchange reserves increased by a modest $158 million for the week ended January 13, after a huge rise of $2.146 billion in the previous week. According to the Reserve Bank of India's Weekly Statistical Supplement, the foreign ... More

Rupee firms up; bonds range-bound
MUMBAI: The rupee gained against the greenback on the back of robust dollar inflows on Friday. Dealers said the domestic currency opened at 44.35/36 and touched an intra-day low of 44.38. It, however, appreciated to close the day at ... More

FINANCIAL PERFORMANCE

IDFC posts PAT of Rs 89 cr in Q3
INFRASTRUCTURE Development Finance Company Ltd (IDFC) has posted a profit after tax of Rs 89.4 crore for the quarter ended December 31, 2005 (Q3 FY 05-06) as compared to Rs 80.27 crore for the year-ago period. Total income increased to Rs ... More

United Bank of India records Rs 175-cr net
UNITED Bank of India (UBI) has recorded a net profit of Rs 175.42 crore during April-December 2005 as against Rs 165.97 crore posted during the corresponding period of the previous year. The bank reported an increase in operating profit to Rs ... More

GENERAL INSURANCE

Novel health cover for the poor in Kerala
THE Kerala Government and ICICI Lombard General Insurance Company are poised to sign an agreement for a pioneering health insurance scheme that seeks to bring the State's poor under `cashless medical treatment' cover. To be implemented by the ... More

PUBLIC SECTOR BANKS

Bank of India gets nod for office in South Africa
BANK of India has received RBI approval to open an office in Johannesburg, South Africa, said a press release from the bank. The bank now has 23 foreign offices in 12 countries. The bank holds RBI approval for opening five new offices in four ... More

Banks turn to Nabard, SIDBI, NHB for funds
The refinance from Nabard or NHB is available at an average 6.5 per cent. The SIDBI refinance will cost a little more but there is neither stamp duty on it nor any CRR/SLR obligation. More

CREDIT MARKET

Bank credit rises by Rs 20,771 cr
GROSS bank credit increased by Rs 20,771 crore for the fortnight ended January 6 to touch Rs 13,56, 869 crore, according to Reserve Bank of India's Weekly Statistical Supplement. This is inclusive of food credit which increased by Rs 2,087 ... More

MERGERS & ACQUISITIONS

ING Vysya Bank sells stake in ING Investment Management
THE ING Vysya Bank has decided to sell its stake in the ING Investment Management (India) Company Pvt Ltd.The decision was made at the ING Vysya Bank board meeting on Thursday.Currently ING Vysya Bank holds 17.6 per cent stake in ING Investment ... More

REGULATORY BODIES & RULINGS

IRDA sets time-bar on new branches
OBSERVING that some of the insurance companies were taking an unduly long time to open new places of business even after obtaining the approvals from the regulator, the Insurance Regulatory and Development Authority (IRDA) has decided to fix a ... More

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