The Hindu Business Line : Wednesday, July 25, 2007

INSIGHT
Exchange Rate and Exports — A fund in good times for the bad
Policymakers can consider creating a pool of funds, out of collections from exporters, and from out of profits on account of exchange rate variations in a depreciating currency scenario to help exporters exercised over a rising rupee. The assistance to tide over temporary drop in profits may be needed more by SME exporters who mat not be able to afford, says GIRIJAA UPADHYAY. More

FOREX
Rupee: Trade weak, capital strong
Should the rupee be allowed to appreciate at this rate? It has moved up from a low of Rs 49 to around Rs 40 in just a couple of years. The dollar has fallen 18 per cent. Is it a good or bad thing?The stock arguments for the two sides ... More

Rupee ends up against dollar
The rupee touched a fresh nine-year intra-day high of 40.20 backed by strong FII inflows into the domestic stock market. The rupee closed at 40.27 against the greenback on Tuesday, about two paise up from the previous close of 40.29. Traders ... More

INFORMATION TECHNOLOGY
Indian Bank’s new ATM in Mumbai
Mumbai, July 24 Indian Bank installed its 33rd Automated Teller Machine (ATM) of Mumbai Circle in Maker Arcade, Cuffe Parade. The ATM will provide access to other major bank’s card holders for cash withdrawal and for balance ... More

STOCKS
Bank stocks: Rate movements keenly watched
Increase in non-interest income worrying factor More

FINANCIAL PERFORMANCE
Kotak Mahindra Bank net up 99%
Mumbai, July 24 Kotak Mahindra Bank has posted a growth of 99.46 per cent in its standalone net profit for the quarter ended June 30, 2007 at Rs 47.67 crore, against Rs 23.9 crore in the corresponding quarter of the previous year. Mr ... More

Dewan Housing Q1 net rises 42%
Mumbai, July 24 Buoyed by a rise in its net interest income (NII), Dewan Housing Finance Ltd has posted a 42.68 per cent growth in its net profit for the quarter ended June 30, 2007 to Rs 14.17 crore, against Rs 9.93 crore in the corresponding ... More

Indiabulls net profit more than doubles
Mumbai, July 24 Net profit of financial services firm Indiabulls Financial Services Ltd more than doubled to Rs 166.4 crore for the first quarter ended June 30, 2007, compared with Rs 76.6 crore in the corresponding quarter of the previous ... More

RBI & OTHER CENTRAL BANKS
‘Accredited loan providers’ mooted
Mumbai, July 24 A technical group set up by the Reserve Bank of India has suggested the creation of a new class of moneylenders called “Accredited Loan Providers”.Unlike the traditional moneylenders, these new breed of ... More

PUBLIC SECTOR BANKS
SBI Act amendment: Panel meeting next month
Chennai, July 24 A committee, formed for drafting the regulations arising out of the amendment to State Bank of India (Subsidiary Banks) Act, will meet at Jaipur on August 4 and 5, it is learnt.The amendment was notified on July 9 and ... More

Vijaya Bank opens 2 new branches in Kolkata
More

INTEREST RATES
Banks rolling back high deposit rates
Bangalore, July 24 With markets awash with liquidity, banks are poised to roll back high deposit rates being offered for tenures of one year and above. Currently, almost all the banks are offering interest rates between 9 and 10 per ... More

GOVT BONDS
Bond prices fall on profit booking
Bond prices fell by around 10-20 paise on profit booking. Total traded volumes on the order matching system were at Rs 4,710 crore (Rs 8,885 crore). Dealers said after the rally on Monday, traders were booking profits. There were also some ... More

CREDIT MARKET
Accredited money lenders’ proposal welcomed
Will help banks to increase business: IBA chief More

SHORT TERM INSTRUMENTS
Call rates end at 0.2-0.3%
The inter-bank call rates closed at 0.2-0.3 per cent on Tuesday, lower than the previous close of 0.3-0.4 per cent. The Reserve Bank of India received bids worth Rs 1,13,900 crore through the reverse repo window under the two session of Liquidity ... More

CO-OPERATIVES
South Canara coop bank’s ‘mobile’ service
Mangalore, July 24 This is a different kind of mobile banking. Taking the cue from the Government’s intention to provide doorstep banking facility to customers, the Mangalore-based South Canara District Central Cooperative Bank Ltd is ... More