The Hindu Business Line : Thursday, June 01, 2006

Rupee at 3-year low
Continuing its downward slide, the rupee hit the lowest against the US dollar in three years on Wednesday but recovered towards the end of the session. For the third day in a row, the rupee declined due to the volatile equity ... More

FINANCIAL PERFORMANCE
Indian Bank pays dividend after 12 years
Net profit up 23 pc; business grows 19 pc More

Sundaram Finance net at Rs 170.59 cr
Sundaram Finance Ltd has reported a net profit of Rs 170.59 crore for 2005-06 compared to Rs 76 crore for the previous year, but last year's net profit includes Rs 88 crore that the company made from a sale of stake in its subsidiary, Sundaram ... More

INTEREST RATES
KVB hikes deposit rates
Karur Vysya Bank has decided to increase the interest rate on domestic term deposits by 50 basis points for tenure between three and five years from June 1. The interest rates, however, would continue to remain the same for ... More

GOVT BONDS
Bond market continues to be weak
The bond market continued to be weak as fears of a rate hike were confirmed by the strong GDP data. "The country's growth rate of over 9 per cent in the first three months of this year has confirmed the rate hike story," said a ... More

SHORT TERM INSTRUMENTS
Call rates unchanged
Call rates were between 5.5 per cent and 5.6 per cent unchanged from the previous day. In the first one-day reverse repo auction under LAF, the Reserve Bank of India received and accepted 32 bids amounting to Rs 36,780 crore and ... More

PEOPLE
TS Bhattacharya is temporary SBI chief
Mr T.S. Bhattacharya, Managing Director of SBI, has been asked to take temporary charge as Chairman. This follows the retirement of Mr A.K. Purwar as Chairman today. The Government's order on Wednesday said: "The financial and administrative ... More

V P Shetty is IBA Chairman
Mr V.P. Shetty, Chairman and Managing Director, IDBI Ltd, has been elected Chairman of the Indian Banks' Association for 2006-07. He is taking over from Mr A.K. Purwar, who retired as Chairman of State Bank of India this month. Mr Shetty ... More