The Hindu Business Line : Saturday, April 26, 2008

FOREX
Forex reserves rise by $1.167 b
Mumbai, April 25 The country’s foreign exchange reserves increased by $1.167 billion for the week ended April 18, to touch $313.534 billion, according to the Reserve Bank of India’s Weekly Statistical Supplement.In the ... More

Rupee up on dollar selling
The rupee moved up as there was dollar selling by exporters and on inflows into the equity market. The rupee opened at 40.14/15 and touched a low of 40.25/26 during day trade. But it recovered to close at 40.11/12, higher by about six paise from ... More

FINANCIAL PERFORMANCE
Market slump hits Andhra Bank Q4 net
Profits down 10.4%; fee-based income posts 110% rise More

LIC Housing Finance Q4 net up 32% on improved margins
Mumbai, April 25 LIC Housing Finance Ltd has reported a 32 per cent increase in its net profit for the quarter ended March 31, as margins improved.Net profit for the quarter amounted to Rs 118.10 crore against Rs 89.14 crore in the ... More

United Bank posts 19.5% rise in net profit
Kolkata, April 25 United Bank of India, which is yet to enter the market with an offer of public issue of equity shares, posted 19.5 per cent growth in net profit at Rs 318.95 crore in 2007-08 (Rs 267.28 crore in 2006-07).“The ... More

NBFCS
Shriram Transport holds ‘Truck Utsav’
Chennai, April 25 In a bid to provide small truck owners and their families with education, offer business counselling and create awareness on products related to road transport industry non-banking finance company Shriram Transport Finance ... More

LIFE INSURANCE
Union Bank’s new biz premium
Union Bank of India has recorded 109 per cent growth under new business premium in life insurance for the fiscal year 2007-08. The bank had new business premium worth Rs 152 crore and sold 32,000 policies. For the year 2008-09, the bank is ... More

SBI Life Madurai Module feat
The Madurai Module of State Bank of India (SBI) Life (Bancassurance) has retained the number one position at All-India level in mobilising business for the second year in succession. During 2007-08, the group consisting of 30 Certified Insurance ... More

RBI & OTHER CENTRAL BANKS
Export credit interest ceiling validity extended
New Delhi, April 25 The Reserve Bank of India (RBI) has extended the validity of the existing dispensation on interest rate ceiling on rupee export credit to October 31, 2008.Under the existing regime, the ceiling on interest rates on ... More

Smart cards for disbursement of social welfare benefits mooted
Mumbai, April 25 Benefits of social welfare programmes of the State Governments could be distributed through the bank-led smart card based model which is being implemented in Andhra Pradesh, the Reserve Bank of India has said.A report ... More

PUBLIC SECTOR BANKS
Govt holding consultations on loan waiver scheme
Chidambaram to ask bankers to continue normal lending More

MERGERS & ACQUISITIONS
‘SBH merger with SBI likely this fiscal’
Hyderabad, April 25 The merger of State Bank of Hyderabad (SBH) with its parent State Bank of India (SBI) appears be entangled in legal issues.The Ministry of Law had raised some objections about the merger of State Bank of Saurashtra ... More

EVENTS
Allahabad Bank Day
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