The Hindu Business Line : Tuesday, May 01, 2007

OUTSOURCING
24/7 Customer, Aviva Global tie up
A business process outsourcing company, 24/7 Customer Inc, has expanded its partnership with Aviva Global Services with its first finance and accounting outsourcing business programme. Under the terms of the agreement, 24/7 ... More

FOREX
Rupee weakens against greenback
The rupee weakened by around eight paise against the greenback to close at 41.18 on Monday against the previous close of 41.0850/1000 on dollar buying by importers to meet month-end demand. The domestic currency opened at ... More

STOCKS
Divergent trend in Sensex, Nifty due to ICICI Bank weightage
Higher weightage of ICICI Bank in Sensex dragged the BSE benchmark into negative territory whereas the NSE's S&P CNX Nifty managed to end in positive territory owing to the bank's relatively lesser weightage. After today's fall of about seven .. More

FINANCIAL PERFORMANCE
Andhra Bank full-year net up 11% at Rs 538 cr
Q4 profit flat due to increased provision for taxes More

Deccan Grameena Bank PBT up 40%
The Hyderabad-based Deccan Grameena Bank has posted 40 per cent increase in the gross profit before tax (PBT) at 24.53 crore in the fiscal year ended March 31, 2007 compared to Rs 17.45 crore in the previous fiscal. The total business increased ... More

State Bank of Hyderabad net rises 67%
State Bank of Hyderabad (SBH) has recorded a net profit of Rs 199.55 crore in the fourth quarter of fiscal 2007, a 67 per cent increase over the net profit of Rs 119.39 crore in the corresponding period of the previous year. The bank has ... More

Bank of Maharashtra Q4 net at Rs 75 cr
Five-fold rise in 2006-07 profit; to pay 20% More

Vijaya Bank net zooms 161% to Rs 331 cr
Vijaya Bank has reported a 161 per cent increase in net profit to Rs 331.34 crore for 2006-07. Speaking to newspersons, Mr Prakash P. Mallya, Chairman and Managing Director, said: "The board has proposed a final dividend of 10 per cent though ... More

UCO Bank back in black in Q4
UCO Bank has recorded a net profit of Rs 31 crore for the fourth quarter of fiscal 2007 against a loss of Rs 59 crore in the corresponding quarter of the previous year. The total income was Rs 1,616 crore, a 24 per cent increase over the Rs ... More

LIFE INSURANCE
SBI Life posts 210% growth in new premium income
Hopes to achieve 300% growth in new business this year More

PRIVATE BANKS
Dutch agency may pick up stakes in City Union Bank
The Dutch multilateral lending agency, FMO, might pick up some equity stake in City Union Bank (CUB), it is reliably learnt. Sources in investment banking circles told Business Line that FMO might invest about Rs 50 crore into the bank. ... More

PUBLIC SECTOR BANKS
CorpBank video-conferencing facility
Corporation Bank has launched video-conferencing facility between its corporate office and zonal offices. A bank release said here on Monday that this facility is expected to assist the bank in expediting decision-making process. ... More

FINANCIAL INSTITUTIONS
Exim Bank plans to raise Rs 13,000 cr in 2007-08
Rs 6,000 cr to be in foreign currency, the rest in rupees More

GOVT BONDS
Bonds shed 20 paise
Bond prices fell by 20 paise and yields rose by about four basis points on enhanced limit for the Market Stabilisation Scheme (MSS) auction. "Trading volumes were also thin on account of an extended holiday,'' said a dealer at a ... More

SHORT TERM INSTRUMENTS
Call rates close at 9-9.25%
Call closed higher at 9-9.25 per cent on Monday against the previous close of 8-9 per cent. In the first three-day reverse repo auction, the RBI received and accepted one bid for Rs 15 crore. In the first three-day repo auction, ... More

ALLIANCES & JOINT VENTURES
Karur Vysya in tie-up with IDBI Capital Markets
To offer online trading facility and depository participation services More

PEOPLE
P.J. Nayak back at UTI Bank helm
It is now Axis Bank More