MONEY & BANKING
FINANCIAL SERVICES
Rabo India to advise Sterling Biotech on overseas buy
RABO India Finance has been appointed as a sole advisor to Sterling Biotech Ltd to identify and arrange for overseas acquisition opportunities in the European market. In addition, Rabo India Finance has also extended a Rs 40-crore long-term ...
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FOREX
Rupee tad higher; bond prices rally
MUMBAI: Apprehensions of liquidity pressure weighed on the domestic debt market on Thursday, with inter-bank call rates soaring to 5.10 per cent levels. Dealers said, there were too many borrowers and too few lenders. mismatch. ...
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FINANCIAL PERFORMANCE
HDFC Bank Q2 net up 30 pc — Board approves $300-m ADS plan
HDFC Bank Ltd proposes to raise up to $300 million through an offering of American depository shares (ADS). The board of directors of the bank, which met on Thursday, approved the proposal. Post ADS, the bank's foreign shareholding may not ...
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Treasury gains dented; ICICI Bank Q2 net rises 10 pc
ICICI Bank has registered a 10.13 per cent growth in net profit for the second quarter ended September 30, 2004, at Rs 442.08 crore as against Rs 401.40 crore in the corresponding quarter, the previous year. During the period, the bank earned a ...
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Corpn Bank Q2 net down 81 pc
LOWER trading profits in the wake of hardening bond yields, and a substantial rise in provisioning, has led to an 81 per cent drop in the net profit of Corporation Bank Ltd, for the second quarter of the current fiscal. The net profit fell to Rs ...
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NBFCS
Draft code of conduct for NBFCs ready
A DRAFT code of conduct has now been adopted by the Managing Committee of the Finance Industry Development Council, the newly formed self-regulatory organisation of non banking financial companies (NBFCs) at its recent meeting in Chennai. It is ...
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NBFC registration annulled
HYDERABAD: The Reserve Bank of India has announced the cancellation of the registration issued to the Secunderabad-based CHPL Finance Ltd, located in Deepthi Apartments on MG Road, as a non-banking financial institution (NBFC). In a ...
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LIFE INSURANCE
ICICI Pru Life new premium up 169 pc
ICICI Prudential Life Insurance has collected Rs 498 crore new business premium, 87 per cent of which came from unit-linked products, during April-September 2004. A press release issued by the company here said it wrote over 2.14 lakh policies ...
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PUBLIC SECTOR BANKS
Syndicate Bank launches new products
SYNDICATE Bank has launched new products — SyndKissan Samruddhi Card and SyndMahila Card. Launching them on the occasion of the Founders' Day at Manipal, the Executive Director of the bank, Mr Kamalakar M. Shet, said SyndKissan Samruddhi ...
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Vijaya Bank Founders' Day
MANGALORE: The regional office of Vijaya Bank here will celebrate the Founders' Day on October 23. Dr H.S. Ballal, Vice-Chancellor of Manipal Academy of Higher Education (MAHE), Mr G.J. Rao, Deputy Chairman of New Mangalore Port Trust, ...
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NON-PERFORMING ASSETS
Banks step up NPA recovery efforts
BANKS have stepped up recovery efforts this year in a bid to reduce their gross non-performing assets (NPA) and improve their bottomlines. Top banking sources said here that this year gross NPA recoveries were up by 40 per cent from the ...
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CREDIT MARKET
Study analyses poor credit-deposit ratio in Kerala
THERE seems to be no end to the debate on the credit-deposit ratio of scheduled commercial banks in Kerala with the politicians blaming the banks for the poor credit disbursal and the banks maintaining that there are few bankable projects worth ...
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CO-OPERATIVES
Keep interest rates in line with market trends, RBI tells UCBs
URBAN co-operative banks must ensure that the interest rates they offer on deposits are in line with the market trends, as per the Reserve Bank of India's best practices code for UCBs. Banks must comply with the CRR and SLR requirements, ...
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Cross Currency Rates
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