The Hindu Business Line : Tuesday, July 22, 2008

MONEY & BANKING

FINANCIAL PERFORMANCE: Canara Bank Q1 net profit slips on higher provisions
Net interest income up; operating profit shows 15% growth. Bangalore, July 21 Public sector Canara Bank reported a 49 per cent drop in net profit for the first quarter, largely hurt by higher provisions compared with the year-ago period, but ...

GOVT BONDS: Bonds up on positive sentiments
Bond prices rose on sentiments as market participants expect the Government to survive the no-confidence vote in Parliament on Tuesday. The RBI announcing the auction of a 10-year government paper, instead of a 19-year paper, as was announced ...

FOREX: Rupee gains 15 paise
The rupee appreciated by 15 paise against the dollar on a day that witnessed relatively thin trading volumes. The domestic currency opened higher at 42.66/68 and touched an intra-day low of 42.77/78. It closed at 42.67/68, against the previous ...

SHORT TERM INSTRUMENTS: Call rate ends lower
The inter-bank call rate closed lower at 9.40-9.50 per cent, against the previous close of 9.50-9.75 per cent. In the one-day repo auction under the liquidity adjustment facility, the RBI received and accepted 44 bids worth Rs 52,315 crore. With ...

FINANCIAL PERFORMANCE: Indian Bank Q1 net up despite higher depreciation
Credit sanctions grow by Rs 4,000 cr; investments slide. Chennai, July 21 Indian Bank has reported a higher net profit for the April-June quarter of the current year compared to the corresponding quarter last year, despite the fact that the ...

LIFE INSURANCE: LIC Udupi division targets 5 lakh policies
Mangalore, July 21 The Udupi Division of Life Insurance Corporation (LIC) of India, which covered three lakh policies during 2007-08, has set a target of covering five lakh policies during the current fiscal. ...

EVENTS: Banks should balance interest rates, rising NPAs: Goel
Kolkata, July 21 The Reserve Bank of India might announce a further hike in cash reserve ratio and repo rate in its quarterly credit policy next week in order to rein in inflation, according to Mr S.K. Goel, Chairman and Managing Director, ...

FINANCIAL PERFORMANCE: ING Vysya Bank net rises 60%
Bangalore, July 21 ING Vysya Bank today reported an increase of 60 per cent in its net profit at Rs 40.63 crore for the quarter ended June 30, 2008 compared with Rs 25.32 crore for the corresponding period last fiscal. A 52 per cent jump in ...

PUBLIC SECTOR BANKS: Bank of Baroda plans more branches
Mumbai, July 21 Bank of Baroda will open 21 new branches in urban and rural areas across States including Bihar, Madhya Pradesh, Tamil Nadu, Uttaranchal and Gujarat to mark the centenary year of the bank, according to Mr M.D. Mallya, Chairman ...

FINANCIAL PERFORMANCE: LIC Housing Finance Q1 net rises 124%
Mumbai, July 21 Buoyed by higher growth in business and lower provisions, LIC Housing Finance Ltd has reported a 124 per cent increase in net profit in the first quarter of 2008-09 at Rs 104.66 crore, against Rs 46.69 crore in the ...