The Hindu Business Line : Saturday, April 28, 2007

Forex reserves rise $789 m to touch $203 b
The country's foreign exchange reserves rose by $789 million to touch $203.881 billion in the week ended April 20, due to the revaluation effect. The forex kitty had seen an accretion of $2.772 billion to $203.092 billion in the previous ... More

CREDIT POLICY
`Investors can seriously benefit from global markets'
Earlier this week, the Liberalised Remittance Scheme came in for further liberalisation when the Annual Policy Statement of the Reserve Bank of India proposed doubling of the current limit of $50,000 to $1,00,000 per financial year for any ... More

Bankers feel no big change in annual policy
`Indicative of confidence on measures to contain inflation' More

`Stable rates will facilitate execution of capex plans'
Mr O.P. Bhatt, Chairman, SBI, has said that the RBI's policy stance emphasises price stability and containing inflationary expectations. Keeping rates stable at this juncture when the underlying growth momentum is strong, will facilitate ... More

`Credit derivatives a welcome step'
Debt fund managers feel that the favourable base effect till July will knock down headline inflation to the short-term target of 5 per cent set by the central bank. "This should give RBI the flexibility to change policy measures, ... More

`No pain, all gain'

Growth-oriented policy lauded

FINANCIAL PERFORMANCE
Crisil net down 6%
Crisil Ltd's net profit dropped by around six per cent to Rs 7.46 crore during the quarter ended March 31, 2007 against Rs 7.92 crore in the corresponding quarter last year. Total income grew by 31 per cent to Rs 44.58 crore (Rs 33.97 ... More

SBH net profit up 18.4%
State Bank of Hyderabad's (SBH) net profit increased 18.37 per cent to a record Rs 505.5 crore in fiscal year 2006-07 compared to the previous fiscal. According to a release issued here on Friday, the operating profit shot up 36.15 per cent to ... More

NBFCS
Shriram Finance plans expansion in Kerala
Shriram City Union Finance Ltd, a leader in Kerala's two-wheeler auto finance segment, is poised to expand its operations to three-wheeler, passenger car and enterprise financing in the State. With a turnover of Rs 114 crore last year, Shriram ... More

LIFE INSURANCE
MetLife's first year premiums rise 141%
MetLife India Insurance Company's first year premiums grew 141 per cent in the last financial year 2006-07 to Rs 350 crore. Speaking to newspersons here, the MetLife India's Managing Director, Mr Rajesh Relan, said, "Bancassurance contributed ... More

RBI & OTHER CENTRAL BANKS
RBI raises ceiling for MSS outstandings
The Reserve Bank of India has further revised the ceiling for outstandings under the Market Stabilisation Scheme (MSS) for 2007-08 to Rs 1,10,000 crore. The threshold at which the ceiling will be reviewed in future will now be Rs 95,000 crore, ... More

PRIVATE BANKS

Correction

FINANCIAL INSTITUTIONS
IFC invests $20 m for Kanoria Chem expansion
UP plant to adopt energy-efficient technology More

NON-PERFORMING ASSETS
Bad loans in housing sector on the rise: SBI
`Could spill into commercial real estate, SME sectors' More

CREDIT MARKET
`SBI corporate loans now priced above prime lending rates'
Current advances to large corporates at Rs 35,000 cr More

CO-OPERATIVES
Elected to co-op bankers' body
Mr Vasanta Nageshwara Rao, President of Andhra Pradesh State Cooperative Bank Ltd, has been elected as the Vice-Chairman of the National Federation of State Cooperative Banks (NAFSCOB). NAFSCOB is an association of all State and Central ... More