The Hindu Business Line : Saturday, May 27, 2006

FOREX
Forex reserves down $793 m
The exchange reserves declined for the first time in 17 weeks in the week ended May 19, mainly due to dollar weakness. The forex reserves were down by $793 million, to $162.962 billion against $163.755 billion in the earlier week. In the ... More

FINANCIAL PERFORMANCE
Dhanalakshmi Bank posts Rs 9.51-cr net
Dhanalakshmi Bank has posted a net profit of Rs 9.51 crore for 2005-06, as against net loss of Rs 21.60 crore for the previous year. The operating profit grew by 53 per cent to Rs 28.24 crore (Rs 18.45 crore). The board has recommended a ... More

LIFE INSURANCE
Max NY Life inks pact with rural retail chain
Sees immense potential; to offer affordable, need-based products More

PUBLIC SECTOR BANKS
New UBI branch inaugurated
The City Mayor, Mr Jayan Babu, inaugurated Union Bank of India's new branch at Peroorkada here on Friday. The new branch, the bank's 2088th, will be run in the anywhere, anytime mode and will feature e-banking facility as well, a ... More

FOREIGN BANKS
StanChart plans to set up asset recovery company
Venture with J&K Bank, Central Bank, Union Bank and OBC by year-end More

FINANCIAL INSTITUTIONS
NEDFi reports all-time high performance
North-Eastern Development Finance Corporation Ltd (NEDFi) has announced an all-round record performance during the fiscal ended March 2006 surpassing all its previous years' achievements. In a press release, the Corporation said sanctions ... More

CREDIT MARKET
Non-food credit down Rs 756 cr
Gross bank credit increased by Rs 460 crore to touch Rs 14,87,631 crore for the fortnight ended May 12, according to Reserve Bank of India's Weekly Statistical Supplement. This is inclusive of food credit, which increased by Rs 1,216 crore to ... More

FIXED DEPOSITS
A tax leg-up for bank deposits
The latest tax incentives will make bank FDs even more attractive and provide a rival investment platform to mutual funds. More

TRADE & LABOUR UNIONS
AIBEA objects to Moody's comment
The All India Bank Employees Association (AIBEA) has taken strong exception to the observations made by Moody's Investors Service (in its new Banking System Outlook) about the labour force in Government-owned banks being ... More

EVENTS
`Banking industry cannot escape consolidation'
Financial inclusion is the challenge for the current year, says Chidambaram More

Travel operators demand payment of ADB meet bills
These operators had provided Mercedes, limousines, and some 60 luxury Volvo for conveyance to participants. More

OUTLOOK
SBT targets Rs 9,000-cr biz growth
State Bank of Travancore (SBT), which recorded total business of over Rs 45,000 crore in 2005-06, is aiming at a business growth of about Rs 9,000 crore in the current year. The bank is also planning to open about 40 new branches and add 100 ... More

Cross Currency Rates