The Hindu Business Line : Tuesday, June 10, 2008

FARM CREDIT
Vijaya Bank begins due diligence on waiver scheme
Bangalore, June 9 The public sector Vijaya Bank has estimated the impact of the farm loan waiver scheme at Rs 313.69 crore.The bank has started its due diligence exercise on the waiver, which included identifying eligible farmers. The ... More

REGIONAL RURAL BANKS
Loan waiver: KVGB set to complete the process
Mangalore, June 9 The Dharwad-headquartered Karnataka Vikas Grameena Bank (KVGB), which has initiated the process of loan waiver and debt relief scheme, hopes to complete the process of crediting the eligible amount to the eligible ... More

FOREX
Govt may consider differential rates for forex deals
Mumbai, June 9 Banks may get a reprieve on the service tax levied on inter-bank foreign exchange transactions, thanks to efforts by the Indian Banks’ Association. Following representations by the IBA, the Central Government has agreed in ... More

Rupee falls by 20 paise
The rupee fell by 20 paise on high oil prices and the huge fall in the domestic equity index. On Monday, the rupee opened lower at 42.90/92 on expectations that the Sensex would also open lower. The rupee then touched a low of 42.95 before ... More

‘TCS has about $1.5 b worth hedges’
New Delhi, June 9 Tata Consultancy Services said on Monday that it has $1.5 billion worth of hedges, but did not comment on the impact of the rupee depreciation on the company.“I cannot comment on the first quarter. The rupee has ... More

FINANCIAL PERFORMANCE
Dhanalakshmi Bank net profit up 76%
Kochi, June 9 The Thrissur-based Dhanalakshmi Bank has achieved a 76.33 per cent growth in its net profit for the year ended March 31, by registering Rs 28.46 crore against Rs 16.14 crore in the previous year. The total income of the ... More

RBI & OTHER CENTRAL BANKS
RBI begins purchasing oil bonds under special market operations
More

FOREIGN BANKS
HSBC India to expand factoring services for SMEs
Hyderabad, June 9 HSBC India is planning to expand the scope of its factoring services in tier-II cities across the country, with a focus on small and medium enterprises.“We are aggressively looking at acquiring new clients in ... More

GOVT BONDS
Bond prices fall
Bond prices fell as traders were apprehensive about the sharp spike in the price of global crude. Total traded volumes on the order matching system were at Rs 3,120 crore. Dealers said that the sentiment was bearish as the high price of global ... More

SHORT TERM INSTRUMENTS
Call rate ends higher
The inter bank call rate closed at 7.80- 7.85 per cent, against the previous close at 6.90- 7 per cent. There were no bids in the one-day repo as well as reverse repo auctions conducted by the RBI under the liquidity adjustment facility. In the ... More

OUTLOOK
ICICI to focus on business banking
Pressure on spreads makes retail lending less attractive More