MONEY & BANKING
FINANCIAL SERVICES
Panel on financial markets meets
A meeting of the High Level Co-ordination Committee on Financial Markets was held on Friday by the Reserve Bank of India. According to a press release from the central bank, Dr Y.V. Reddy, Governor of RBI, chaired the meeting ...
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FOREX
Forex reserves gain $689 m
The forex reserves have gained by $689 million due to an increase in foreign currency assets. According to the Reserve Bank of India's Weekly Statistical Supplement, the reserves rose by $689 million to touch $163.35 billion for the week-ended ...
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Rupee dips against dollar
The rupee dipped against the dollar as thin volume caused a degree of volatility. The domestic currency opened at 46.64 and crept up to 46.56/57. It then fell to finally close at 46.69/70, down from Thursday's 46.60/62. ...
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FINANCIAL PERFORMANCE
KVB Q1 net marginally up
Karur Vysya Bank has clocked a net profit of Rs 38.38 crore during the first quarter of the current fiscal against Rs 37.62 crore achieved in the corresponding quarter of the previous year. While the rise in its net profit was just a little ...
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BoB net marginally up; investment income dips
To raise lending, deposit rates by next week
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Indian Bank Q1 net rises 21 pc at Rs 165 cr
Loan growth, NPA recovery aid profit growth
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Lakshmi Vilas Bank net triples
The Karur-headquartered Lakshmi Vilas Bank (LVB) has registered a three-fold increase in its net profit during the first quarter of the current fiscal compared to the corresponding quarter of the previous fiscal. Its net ...
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City Union Bank net up 25%
City Union Bank (CUB) has proposed to increase its authorised capital to Rs 100 crore from the present level of Rs 30 crore. The bank's net worth has crossed the Rs 300-crore mark. The board met at Tiruchi today to take stock of ...
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CONSUMER FINANCE
DB India to focus on retail biz
Deutsche Bank India plans to launch consumer finance business in the next six to eight months, said Mr Gunit Chadha, MD and CEO, Deutsche Bank (DB) India. He said that consumer finance would be a standalone business within the bank and would ...
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LIFE INSURANCE
OBC plans insurance foray
Oriental Bank of Commerce (OBC) plans to foray into the life insurance business and is scouting for joint venture partners for this purpose, according to the Chairman and Managing Director, Mr K.N. Prithviraj. "We are going to go for the ...
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GOVT BONDS
Bond yields harden
Yields in the bond market hardened on Friday in reaction to inflation-related comments made by the Finance Minister, Mr P. Chidambaram. The Minister is reported to have said that inflation was likely to go up further and measures ...
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NON-PERFORMING ASSETS
Andhra Bank NPAs at near zero pc
Andhra Bank has registered a net profit of Rs 116.41 crore for the quarter ended June 2006, compared to Rs 85.16 crore in the corresponding period of the previous quarter, registering a growth of 36.70 per cent. The bank's total income has gone ...
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SHORT TERM INSTRUMENTS
Treasury bills' auction
The Reserve Bank of India has announced that the auction for 91-day and 364-day treasury bills would be held on August 2, using "multiple price auction". For the 181-day T-bills, the notified amount is Rs 2000 crore, of which Rs ...
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Call rates in range
Call rates were between 6 and 6.1 per cent. In the first three-day reverse repo auction under LAF, the RBI received and accepted 25 bids amounting to Rs 24,595 crore and in the second three-day reverse repo auction, 33 bids for ...
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MERGERS & ACQUISITIONS
ICICI Bank to sell 19% stake in ARCIL to US co Och-Ziff
Och-Ziff to buy 1.9 cr equity shares
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TRADE & LABOUR UNIONS
Chidambaram assuages bank staff concern on outsourcing
`RBI proposals only draft guidelines'
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Banking operations affected in Karnataka
Banking operations were affected in Dakshina Kannada and Udupi districts on Friday following a nationwide strike call given by the All-India Bank Employees Association (AIBEA), the All-India Bank Officers Association (AIBOA) and ...
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Strike hits clearing operations in some regions
Protest against privatisation, outsourcing operations
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Strike effect
The State Bank of Mysore head office on K.G. Road in Bangalore wears a deserted look as employees of public sector banks struck work on Friday.
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