The Hindu Business Line : Saturday, July 15, 2006

OUTSOURCING
Chidambaram may discuss outsourcing issue with PSU bank chiefs
The controversial issue of outsourcing of banking services is likely to be taken up for discussion at the meeting between the Finance Minister, Mr P. Chidambaram and the chief executives of public sector banks slated for July 21. Bank employees ... More

INSIGHT
Energy policy on backburner
If oil prices continue to go up at this rate, we are looking at significant trade deficits in the coming years. More

FOREX
Forex reserves rise $348 m
The country's foreign exchange reserves rose for the second week in a row. According to figures from Reserve Bank of India for the week ended July 7, it increased by a modest $348 million to touch $163.260 billion due to good inflows into the ... More

Rupee weakens further
The rupee weakened further against the dollar on concerns about rising price of crude oil prices. The domestic currency opened at 46.45 and touched an intra-day low of 46.50. It then recovered to finally close at 45.37/38, lower ... More

Foreign currency asset deposits
A major portion of the country's foreign currency assets was deposited with other central banks, Bank of International Standards and the International Monetary Fund, according to the six-monthly report on country's forex reserves ... More

FINANCIAL PERFORMANCE
30% rise in HDFC Bank Q1 net
Rise in profit was mainly on account of strong growth in Net Interest Income (NII) and high Net Interest Margin (NIM). More

ING Vysya Q1 net profit up 61 pc
ING Vysya Bank has reported a 61 per cent jump in net profit for the first quarter (Q1) of the current financial year. An ING Vysya Bank release said that Q1 net profits for the current year was Rs 14.79 crore as against Rs 9.15 crore for the ... More

HOUSING FINANCE
HDFC property fair in Madurai
Destination Madurai - a three-day property fair organised by Housing Development Finance Corporation (HDFC) opened here on Friday. In the last five years, Madurai has witnessed tremendous growth in infrastructure and ... More

LIFE INSURANCE
Tata AIG simplifies claims processing
Tata AIG Life Insurance has simplified the claims processing system for policyholders. The company's staff is visiting major hospitals and advising people on how to expedite claims. Tata AIG's customers can also call the ... More

DEBT MARKET
Bond prices end down
In the bond market, prices initially fell on account of the surge in global oil prices. But they recovered to end 5 paise below Thursday's close. Dealers said that the bond market retraced its losses due to buying support. ... More

RBI & OTHER CENTRAL BANKS
No change in our stance on inflation: RBI
The Reserve Bank of India on Friday said that there was no change in its stance on inflation, which it has projected to be between 5 per cent and 5.5 per cent this fiscal. "There is no change in our stance on inflation from what we had stated ... More

ADB to give $5-m grant to Kerala, TN
Tsunami-hit fishing communities, others to benefit More

SHORT TERM INSTRUMENTS
Call rates steady
The call rates closed at 5.8-5.85 per cent (5.75-85). In the first three-day reverse repo auction under LAF, the Reserve Bank of India received and accepted 28 bids amounting to Rs 25,500 crore and in the second three-day reverse ... More

INTERVIEW
`KVB Ninety - Techie' is new refrain
Having achieved 100 per cent branch networking, we have demonstrated that we are a match for any new-generation private sector banks, both in adoption of technology and core competence. More