The Hindu Business Line : Tuesday, August 09, 2005

Rupee weak; gilts bearish
MUMBAI: The rupee declined marginally against the dollar, as crude prices touched record highs. However, good dollar supply helped offset the fall of the rupee, said dealers. The rupee traded in a narrow three paise range. It opened ... More

FINANCIAL PERFORMANCE

Indian Bank Q1 net rises to Rs 137 cr
INDIAN Bank has reported a net profit of Rs 136.57 crore for the first quarter of the current financial year, compared with Rs 118.13 crore in the same period last year - an increase of 15.6 per cent. Total business grew 5.3 per cent over ... More

LIFE INSURANCE

LIC market share dips in June quarter
MARKET share of Life Insurance Corporation of India in terms of first premium income has come down to 74.87 per cent in the quarter ended June 30 from 82.39 per cent in the corresponding period in the previous year. However, the premium income ... More

GENERAL INSURANCE

Maharashtra floods: Insurance claims to be settled in 7 days
INSURANCE claims, arising out of the recent catastrophic floods in Maharashtra, up to Rs 50,000 would be settled within a week, the State government has said. As on date, the four public sector insurers have received 13,000 claims worth Rs ... More

PRIVATE BANKS

UTI Bank launches satellite retail assets centre in Mangalore
UTI Bank has launched its first Satellite Retail Assets Centre (SRAC) in Karnataka at Mangalore recently. A bank release said here on Monday that Mr Sujan Sinha, Head (Retail Assets), inaugurated the centre. The bank has 18 SRACs in the ... More

PUBLIC SECTOR BANKS

Canara Bank Shanghai office begins operations
THE China representative office of Canara Bank began operations in Shanghai today. The office was jointly inaugurated by Mr M.B.N. Rao, Chairman and Managing Director, and Mr Sujan Chinoy, Consul-General of India, in the presence of leading ... More

Corporation Bank eyes 30 pc growth in credit
CORPORATION Bank, the CMD said, is eyeing a 25-30 per cent growth in credit during 2005-06, which will help it shore up its business to roughly Rs 55,000 crore. Its total business currently stands at around Rs 46,000 crore. The Government's ... More

PNB pays Rs 55 cr dividend to Govt
PUNJAB National Bank has paid a dividend of Rs 54.67 crore to the Government for the financial year 2004-05. The Chairman and Managing Director, PNB, Mr S.C. Gupta, handed over the dividend cheque to the Finance Minister, Mr P. ... More

FINANCIAL INSTITUTIONS

SIDBI sanctions at Rs 3,550 crore under SME Fund
THE Small Industries Development Bank of India (SIDBI) has sanctioned loans worth Rs 3,550 crore out of the Rs 10,000-crore SME Fund, in the year-and-quarter period since the fund was launched. Disbursements amounted to Rs 2,530 crore, SIDBI's ... More

FIXED DEPOSITS

Karnataka Bank hikes NRE deposit rates
KARNATAKA Bank has hiked interest rates on its Non Resident (External) rupee deposits with effect from August 1, says a bank release.

EVENTS

`Integrity is key to good banking practices'
THE Chairman and CEO of Karnataka Bank Ltd, Mr Ananthakrishna, has urged the workforce to work hard to achieve success in the highly competitive banking sector. "Let us apply our mind and work with a sense of dedication for better results," he ... More

PEOPLE

Swiss Re appoints Anders Ihr as MD of Bangalore centre
SWISS Re has appointed Mr Anders Ihr as Managing Director of its fast-growing global shared service centre located in Bangalore. A Swiss Re release said here on Monday that Mr Ihr replaced Mr Thomas Zuerrer who has returned to the company's ... More

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