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DIVIDEND ANNOUNCEMENT
BoI pays final dividend to Centre
Bank of India (BoI) has paid a 15 per cent final dividend amounting to Rs 50.79 crore to the Government for the financial year 2006-07. The dividend cheque was handed over to the Union Finance Minister, Mr P Chidambaram, by the bank’s ... More

FOREX
Re falls tracking stock markets
The rupee weakened by eight paise on Wednesday after a strong rally on Tuesday tracking the fall in domestic stock market by 615 points. The home currency closed at 40.45/46, down from the previous close of 40.38. It opened at 40.45/46 and after ... More

FINANCIAL PERFORMANCE
Dhanalakshmi Bank net jumps 98%
Kochi, Aug. 1 Net profit of Dhanalakshmi Bank has grown by 98 per cent to Rs 6.05 crore during the first quarter of the current fiscal, from Rs 3.06 crore in the same quarter of the last fiscal. Profit before tax surged by 210 per cent to Rs ... More

Lakshmi Vilas Bank net up 20%
Coimbatore, Aug. 1 Net profit of Lakshmi Vilas Bank for the quarter ended June 2007 stood at Rs 15.09 crore, a 20 per cent growth over the corresponding quarter of the previous fiscal. Its total income grew 30 per cent to Rs 136.32 crore (Rs ... More

GENERAL INSURANCE
ICICI Prudential launches new ‘Crisis Cover’
More

HUMAN RESOURCES
Kotak Mahindra widening network
Chennai, Aug. 1 Kotak Mahindra Old Mutual Life Insurance Company plans to recruit 1,500 agents in Chennai during the current year. The company currently has about 26,000 agents across the country on its rolls. Speaking at a press ... More

PUBLIC SECTOR BANKS
Corporation Bank rolls out ‘Pay by Mobile’ service
More

INTEREST RATES
Karnataka Bank cuts NRE, FCNR (B) deposit rates
Mangalore, Aug 1 Karnataka Bank Ltd has reduced interest rates on NRE and FCNR(B) deposit schemes with effect from August 1.A bank release said on Wednesday that the interest rate on NRE deposits has been reduced to 5.25 per cent (5.43 ... More

GOVT BONDS
Bond prices down 46 paise
Bond prices fell by almost 46 paise and the yields went up by six basis points on speculation of draining out of surplus cash following a hike in Cash Reserve Ratio by the central bank. The total traded volumes on the order matching system were ... More

CRR & BANK RATES
‘Monetary policy will have marginal impact on PSBs’
Hit on net interest margin will not be felt due to healthy balance sheet:: Chidambaram More

‘Move on CRR, reverse repo quite needed’
Chennai, Aug. 1 The measures taken by the RBI are quite warranted and necessary in the backdrop of mounting forex inflows. While the move to lift the cap on reserve repo will increase the short-term interest rates, the additional ... More

SHORT TERM INSTRUMENTS
Call closes at 0.1-0.3%
The inter-bank call rates closed at 0.1-0.3 per cent on Wednesday against the previous close of 0.1-0.2 per cent. The Reserve Bank of India received bids worth Rs 1,36,245 crore through the reverse repo window under the two sessions of Liquidity ... More

CREDIT CARDS & DEBIT CARDS
SBI’s new ‘Cash Back Plus’ offer on debit cards
Mumbai, August 1 State Bank of India today launched a ‘Cash Back Plus’ offer on its debit cards across the country effective August 1 and valid up to October 31, 2007, said a press release from the bank.Customers using debit ... More

SBI launches ATM cash back offer
State Bank of India ATM ‘cash back’ offer was launched here at the CMR shopping mall on Wednesday by the Deputy General Manager, Mr Supriyo Kumar Chaudhuri. He told reporters that the offer would be open from August 1 to the end of ... More

FIXED DEPOSITS
‘1-year deposit rates may hold at 8.5%’
New Delhi, Aug. 1 With number of public sector banks now inclined to lower one-year deposit rates by 50 basis points and some even having already announced a reduction, the Finance Minister, Mr P. Chidambaram, today said that deposit rates are ... More

Union Bank trims FCNR (B), NRE deposit rates
Mumbai, Aug. 1 Union Bank of India has slashed the interest rates on FCNR (B) and NRE (rupee) term deposits effective August 1. In the case of FCNR (B) deposits, the interest rates on dollar deposits of various tenures are: one to less ... More

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