The Hindu Business Line : Tuesday, April 22, 2008

FOREX
Rupee ends lower
The rupee closed lower against the dollar on Monday as State-run banks bought dollars, on possible instructions from the central bank, said a dealer. The rupee opened higher at 39.82/83, which was also the day’s high, as dealers unwound ... More

FINANCIAL PERFORMANCE
Axis Bank net rises 63% on strong biz growth
Net interest income up; fee-based income grows 70% More

PNB Gilts net up 183%
New Delhi, April 21 Aided by a higher turnover in Government securities, PNB Gilts, a primary dealer, on Monday reported a 183 per cent increase in net profit for the financial year ended March 31, at Rs 45.16 crore compared to Rs 15.96 ... More

RBI & OTHER CENTRAL BANKS
RBI likely to clamp down on arbitrage trade by foreign banks
Variants of carry trade in vogue More

PRIVATE BANKS
Axis Bank contesting two cases
In view of the problematic derivative deals, Axis Bank has made a contingent provision of Rs 71.97 crore as it is legally contesting two cases filed by two companies. The bank has been active in structuring derivatives transactions for ... More

Karnataka Bank’s move for pref issue to IFC rejected
Bangalore, April 21 The Reserve Bank of India has rejected private sector Karnataka Bank’s proposal to make a preferential share allotment to International Finance Corporation (IFC).The proposal entailed private placement of ... More

PUBLIC SECTOR BANKS
SBI to add 29 branches in Vizag zone
Visakhapatnam, April 21 SBI, Visakhapatnam module, is planning to set up 29 more branches during the current financial year and also 130 new ATMs, according to the Deputy General Manager, Mr Kalyan R. Mohanty.Mr Mohanty, who on Monday ... More

FOREIGN BANKS
Science & Tech Ministry, HSBC India join hands for climate change forum
New Delhi, April 21 The Ministry of Science and Technology and HSBC on Monday signed a memorandum of understanding to form an ‘Earth Sciences Forum’. The forum would focus on providing solutions related to climate change through ... More

GOVT BONDS
Bond prices decline
More

SHORT TERM INSTRUMENTS
Call rates close lower
Call rates closed lower at 5.5-5.75 per cent (6.25-6.5 per cent). In the one-day reverse repo auction, under the Liquidity Adjustment Facility, the RBI received and accepted 14 bids for Rs 17,995 crore. There were no repo bids. In the CBLO ... More

MORTGAGE
SBT launches reverse mortgage loan
Thiruvananthapuram, April 21 The State Bank of Travancore has launched a reverse mortgage loan scheme for senior citizens owning houses.Under the scheme, the bank will extend loans to the clients against mortgage of their residential ... More

OUTLOOK
To continue focus on retail advances
Hyderabad, April 21 Riding on the impressive performance it posted in the last fiscal, Axis Bank plans to focus on retail advances, continuing the profitable business model being pursued at present. “The strong growth in advances ... More