The Hindu Business Line : Thursday, June 21, 2007

DIVIDEND ANNOUNCEMENT
Bank of Maharashtra pays dividend
Bank of Maharashtra has paid a dividend of Rs 66.10 crore to the Government for the financial year 2006-07. The Chairman and Managing Director, Mr M.D. Mallya, handed over the dividend cheque to the Union Finance Minister, Mr P. ... More

INSIGHT
Stock-taking on financial inclusion
The majority of India's population in the urban, semi-urban and rural areas is still under-served by the banking industry. Bold initiatives are needed to bring these areas into the financial mainstream. More

FOREX
NMCC voices concern over rupee appreciation
The National Manufacturing Competitive Council (NMCC) has expressed concerns over the impact of appreciating rupee in the manufacturing sector, especially with reference to the small and medium enterprises (SMEs). "The rupee has appreciated by ... More

Re strengthens on dollar weakness
The rupee slightly appreciated against the greenback aided by dollar inflows in the domestic market and buoyed by the overseas weakness of the dollar. The domestic currency opened at 40.80/82 and touched an intra-day low of ... More

FINANCIAL PERFORMANCE
First Leasing net down 6%; pays Rs 2.25 dividend
First Leasing Company of India has reported a lower net profit for the year 2006-07 over the previous year, but that was only because of a first-time `deferred tax liability'. The Chennai-based NBFC has reported a net profit of Rs 25.36 crore ... More

GENERAL INSURANCE
SC reserves order on Motor Vehicles Act provisions
States fail to comply with directions of High Courts, claims petition More

PRIVATE BANKS
ICICI Bank follow-on offer subscribed by 3.15 times
ICICI Bank's follow-on public offer of about 9.88 crore shares was subscribed 3.15 times on the second day of issue, according to the NSE Web site. On Wednesday, the qualified institutional investor's portion was subscribed by 6.24 times, while ... More

PUBLIC SECTOR BANKS
PNB can satisfy either shareholders or regulators
Banks do not have much leeway like other industries More

Allahabad Bank not planning to expand equity base now
Can't go for public issue due to legal constraints, says CMD More

GOVT BONDS
Bonds fall due to surplus liquidity
The bond prices fell by about 10 paise and the yields went up by two basis points on Wednesday spurred by surplus cash in the system. "There is still enough liquidity in the system, the bond prices might fall another by another ... More

CREDIT MARKET
Return ticket for rural resources
Only half the deposits in rural bank branches in March 2005 were lent. The remaining Rs 1,10,000 crore filtered up to metros. But this is only the first leg of the journey. According to RBI figures, metro borrowers `exported' Rs ... More

Canara Bank's new loan scheme
Canara Bank has launched a retail loan for financing tax return preparers selected by the Ministry of Finance. A bank release said today that the loan scheme, called Canara Guide, was introduced to provide self-employment ... More

SHORT TERM INSTRUMENTS
Call rates touch new low of 0.2%
Strong FII inflows, RBI intervention More

MORTGAGE
GIC Housing plans reverse mortgage foray
GIC Housing Finance Ltd is firming up plans to enter the reverse mortgage segment, which is targeted at senior citizens. It is also exploring forays in innovative mortgage linked insurance products. To expand its housing loan portfolio and ... More

FIXED DEPOSITS
KVB unveils triple `S' scheme
Karur Vysya Bank has unveiled the triple `S' - Spouse Senior Citizen Deposit Scheme. The scheme is applicable to term deposits opened in the joint names of husband and wife (where one is a senior citizen). In the event of the ... More

OVERSEAS INVESTMENTS
Federal Bank opening representative office in UAE
The Central Bank of UAE has given approval to Federal Bank for opening a representative office in the UAE, and the bank is poised to become the first Indian bank to have a representative office in Abu Dhabi. By establishing the representative ... More