The Hindu Business Line : Saturday, April 21, 2007

DIVIDEND ANNOUNCEMENT
UCO Bank pays interim to Govt
UCO Bank on Friday made an interim dividend payment of Rs 59.93 crore to the Centre for the financial year 2006-07. The bank's Chairman and Managing Director, Mr V. Sridar, handed over the dividend cheque to the Union Finance ... More

FOREX
Forex reserves surge $2.7 b
Forex reserves have increased by over $2.7 billion for the week ended April 13 on the back of FII inflows and strengthening of non-dollar currencies against the greenback. The country's forex reserves grew by $2.772 billion to $203.092 ... More

Rupee gains 31 paise
The rupee strengthened by around 31 paise against the greenback and closed at a nine-year high of 41.76/77 on Friday against the previous close of 42.07. "Banks were running short of cash and were seen selling dollars against ... More

FINANCIAL PERFORMANCE
IDBI Bank net up 6% in Q4 on interest income
$1 b may be raised for expanding business More

DERIVATIVES MARKETS
Banks can sell derivative products
The Reserve Bank of India has permitted commercial banks (excluding regional rural banks) and primary dealers to sell derivative products. According to the revised guidelines on derivatives by the RBI, banks and primary dealers should develop ... More

PUBLIC SECTOR BANKS
PNB opens 131st Kerala branch
Punjab National Bank (PNB) opened a new branch at nearby Thrikkakara on Friday; it is the bank's 131st branch in Kerala. The branch comes under with core banking solution (CBS) system, providing anywhere anytime banking facility ... More

FOREIGN BANKS
ABN-Amro opens branch at Salem
ABN-Amro has expanded its retail banking operations by opening a branch at Salem in Tamil Nadu. Claiming it to be the first branch established by an international bank in Salem, Mr Sumant Kathpalia, Head (Consumer Banking), said ... More

GOVT BONDS
Bond prices rise slightly
Bond prices rose slightly on ample liquidity in the system. Total traded volumes on the order-matching system were Rs 2,310 crore (Rs 3,745 crore). Dealers said call rates cooled to 9.5-9.75 per cent with more rupees on hand. ... More

CRR & BANK RATES
Forex reserves: Passing the buck to banks
Bankers may not like it, but the 1.5 per cent hike in the Cash Reserve Ratio (CRR) is pretty much a case of `the good lord giveth and the gay lord taketh.' Over the past four months, the Reserve Bank of India has merely impounded/immobilised a ... More

NON-PERFORMING ASSETS
IDBI sells SPIC loans to Arcil
SPIC owes around Rs 2,845 crore to about 30 banks, most of them being public sector banks. More

CREDIT MARKET
Vijaya Bank may go slow on lending
Vijaya Bank has decided to slow down in the current fiscal its scorching pace of credit disbursal following the Union Finance Minister, Mr P. Chidambaram's directive to public sector banks (PSBs) to moderate credit growth. In the financial year ... More

SHORT TERM INSTRUMENTS
Call rates remain unchanged
Call rates remained unchanged at 9.50-10 per cent on Friday. In the first three-day repo auction, the RBI received and accepted twenty bids for Rs 10,010 crore while there were no reverse repo bids. In the second three-day ... More

FIXED DEPOSITS
TMB hikes deposit rates
Tuticorin-based Tamilnad Mercantile Bank (TMB) has increased interest rates for its domestic term deposits with effect from April 17, across all time buckets, up to the maximum of 175 basis points. After the revision, the bank ... More

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