The Hindu Business Line : Saturday, June 10, 2006

INVESTMENT BANKING
SBI Caps to open arm in UK
SBI Capital Markets Ltd (SBICAP) has announced its plan to offer investment-banking services to overseas corporates. SBICAP, the investment-banking arm of State Bank of India, would float SBICAP (UK) Ltd, a wholly owned subsidiary. The new ... More

FOREX
Forex reserves up $ 1.93 b at $164.53 b
After a decline of two weeks, the country's foreign exchange reserves saw a total accretion of $1.937 billion for the week ended June 2, mainly on account of currency revaluation. According to the Reserve Bank of India's Weekly Statistical ... More

Rupee unchanged
The rupee was largely unchanged against the dollar due to the intervention of the central bank. The domestic currency opened at 45.94/95 and touched an intra-day high of 45.89/90. It then weakened to end at 45.95/96, against ... More

INFORMATION TECHNOLOGY
Corporates log on to Net banking
Internet banking for individuals has been around for years; free of cost, and not only to high net worth individuals. Tens of thousands of people across the country routinely log on to the Net one or more times a day to check out balances ... More

HOUSING FINANCE
ICICI Bank raises lending rates
To translate into increase in both retail and corporate loans More

DEBT MARKET
Markets recover sharply
Sensex records its biggest single-day gain of 514 points since March 1992 More

Bond prices dive
In the bond market, prices dived by a rupee reacting to the central bank's quarter percentage point hike of the reverse- repo and the repo rates. Dealers said that foreign banks began selling earlier in the day. However, ... More

PRIVATE BANKS
Karnataka Bank targets Rs 5,700-cr forex turnover
Karnataka Bank Ltd has targeted foreign exchange (forex) merchant turnover of Rs 5,700 crore and export credit of Rs 1,300 crore for 2006-07. During 2005-06, the bank achieved the forex merchant turnover of Rs 4,639 crore. The export credit ... More

Karnataka Bank targets Rs 620-cr farm credit
Karnataka Bank Ltd has proposed to disburse Rs 620 crore of fresh credit to agriculture sector during 2006-07. A bank release said here on Wednesday that the Chairman and Chief Executive Officer of the bank, Mr Ananthakrishna, finalised this ... More

PUBLIC SECTOR BANKS
Corporation Bank aims at Rs 70,000-cr business
Corporation Bank is aiming at a business mix of Rs 70,000 crore during the current year against Rs 56,000 crore (Rs 23,000 crore of advances and Rs 33,000 crore of deposits) achieved during 2005-2006. Mr B.R. Bhat, General Manager, said at a ... More

Dena Bank seeks more funds from Govt
`Capital infusion must for Basel compliance' More

SBI plans to raise Rs 2,000 cr
State Bank of India (SBI) said that its Executive Committee of the Central Board has approved the plan to raise Rs 2,000 crore through bonds. The amount would be raised during the financial year 2006-07 in tranches with minimum ... More

FINANCIAL INSTITUTIONS
Exim Bank dividend
PAYOUT CHEQUE: Mr Pawan Kumar Bansal, Minister of State for Finance, receiving a dividend cheque for Rs. 86.75 crore from Mr T.C. V. Subramanian, CMD, ExIm Bank, in the capital on Friday. ... More

INTEREST RATES
`RBI move is to contain inflation'
The Finance Ministry said on Friday that the Reserve Bank of India's move to mark-up its key interest rates by 0.25 percentage points was aimed at keeping inflation under check. "This (RBI move) is a measure to keep inflation under control," ... More

Banks sail on broad rally
Banking stocks, though closed higher today in tandem with the broad market rally, lagged the main benchmarks. While the Sensex and the Nifty surged five per cent, the BSEBankex gained just 2.74 per cent, the least among the indices. In the ... More

CORPORATE BONDS
Nabard to raise Rs 11,000 cr through bonds, loans
The National Bank for Agriculture and Rural Development (Nabard) will raise Rs 11,000 crore from the market, its Chairman Dr Y.S.P Thorat, has said. Dr Thorat said the bank would require Rs 14,000-15,000 crore during the current year, of which ... More

CREDIT MARKET
Gross bank credit up
Gross bank credit increased by Rs 5,484 crore to Rs 14,93,115 crore for the fortnight ended May 26, according to the RBI's Weekly Statistical Supplement. The gross bank credit was inclusive of food credit, which increased by Rs 588 crore to ... More

MFIs with more fee-based income do better: Crisil
More effective reach, says study More

SHORT TERM INSTRUMENTS
Call rates increase
After the increase in reverse-repo and repo rates by the RBI, call rates have jumped to 5.75 and 5.85 per cent from 5.5 and 5.6 per cent. Following the hike in reverse repo and repo rates, the liquidity was low at Rs 47,520 ... More

PEOPLE
Part-time Chairman for Kotak Mahindra Bank
Kotak Mahindra Bank has announced that Dr Shankar Acharya would be appointed as part-time Chairman, subject to necessary approvals. Dr Acharya, a director of the bank, would take over from Mr K.M. Ghreda, current Chairman, at the ... More

Cross Currency Rates