MONEY & BANKING
REGIONAL RURAL BANKS
Shree Suvarna depositors seek concrete solutions
Pune, July 30 The olive branch extended by the Shree Suvarna Sahakari Bank to its depositors was met with firm resistance. The bank offered its 2.16 lakh depositors a sum of Rs 2,000 in instalments as and when convenient, starting from ...
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INSIGHT
‘Interest’ing conundrum for RBI
Move over equities, the bond street is in a bull run. The 10-year government bond yield at around 7.8 per cent has moved down 60 bps since its high of 8.4 per cent reached on June 12. The spreads on five-corporate bonds over government bonds have ...
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FOREX
Rupee sheds 5 paise
The rupee weakened by five paise against the dollar on Monday due to dollar demand from oil companies to meet their month-end demands. The home currency opened at 40.56 and saw an intra-day high of 40.44 due to some dollar selling, before ending ...
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STOCKS
Bank stocks jump ahead of credit policy
Analysts expect RBI to keep interest rate unchanged
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FINANCIAL PERFORMANCE
United India Insurance posts 24% growth in net
Prudent underwriting, improved claims management key drivers
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Higher interest income boosts Oriental Bank net profit in Q1
Bank aims to have over 2.7% net interest margin in remaining quarters
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Syndicate Bank net rises to Rs 221 cr
Bangalore, July 30 Syndicate Bank has reported a net profit of Rs 221.03 crore for the first quarter (Q1) of the financial year 2007-08 (FY08), a 22 per cent increase from Rs 180.58 crore in Q1 of FY07.Briefing reporters, the Chairman ...
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Andhra Bank net profit up 21% at Rs 141 cr
Hyderabad, July 30 Andhra Bank’s net profit increased by 21.2 per cent to Rs 141 crore in the first quarter ended June 30, 2007 from Rs 116.41 crore in the comparable quarter last fiscal. Total business grew by 24.8 per cent to Rs ...
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Vijaya Bank net up on increase in core income
Bangalore, July 30 Vijaya Bank has reported a net profit of Rs 111.35 crore for the first quarter of the financial year 2007-08, an increase of 53 per cent over the first quarter of 2006-07.Briefing reporters, the Chairman and ...
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UCO Bank net climbs to Rs 132.9 cr
Kolkata, July 30 UCO Bank has recorded a net profit of Rs 132.87 crore as on June 30, 2007, up from Rs 61.5 crore posted in the corresponding period last year. The bank registered a total income of Rs 1,668.48 crore for the quarter ...
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PRIVATE BANKS
UTI Bank is now Axis Bank
Mumbai, July 30 UTI Bank has become Axis Bank from today. With this re-branding, the bank plans to diversify into other financial services and restructure its corporate banking. The bank would be adding 4,500 people at different levels ...
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PE funds picking up stake in CSB
Three foreign private equity funds — the Hong Kong-based AIF Capital, the London-based Gartmore Ltd and the New York-based Siguler Guff — have subscribed to 14 per cent of the paid-up capital of Catholic Syrian Bank. The shares with a ...
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PUBLIC SECTOR BANKS
Union Bank’s retail asset unit
Thiruvananthapuram, July 30 Union Bank of India has opened a retail asset branch in Thiruvananthapuram. The branch is specialised in extending education, housing, vehicle and other retail loans. ...
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SBI arms up on liquidity hopes
Three SBI subsidiaries – State Bank of Bikaner and Jaipur (SBBJ), State Bank of Travancore (SBT) and State Bank of Mysore – have been gaining and registering new peaks in recent times on the bourses. According to market ...
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FINANCIAL INSTITUTIONS
IFC’s annual investments here cross $1 b mark
To focus on infrastructure projects
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INTEREST RATES
‘Further rise in interest rate will impact GDP growth’
A further rise in the interest rate will impact GDP growth and bottomline of corporates, according to the PHD Chamber of Commerce and Industry. Against the backdrop of moderate inflation and rising rupee, the RBI, in its Review of ...
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GOVT BONDS
Bond prices up on fresh buying
Bond prices rose 50 paise and the yield fell by seven basis points backed by fresh buying by banks. “The liquidity conditions have left a level of comfort among market participants,” said a dealer with a private bank. Market ...
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CREDIT MARKET
RBI concerned over hike in lending to realty sector
Outstanding loans jump to Rs 46,295 cr
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APSFC targets Rs 900-cr sanctions
Working on blueprint for 5 years
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SHORT TERM INSTRUMENTS
Call rates down at 0.1-0.3%
The inter-bank call rates closed at 0.1-0.3 per cent against the previous close of 0.2-0.3 per cent. The Reserve Bank of India received bids for Rs 1,50,240 crore through the reverse repo window under the two sessions of Liquidity Adjustment ...
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EVENTS
SBI celebrates 201st birthday
State Bank of India held its 201st birthday celebrations here on Sunday. The function was jointly organised by the Local Head Office, Zonal Office and the branches in Thiruvananthapuram district. The Chief Secretary to the State Government, Ms ...
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