MONEY & BANKING
FOREX
Rupee gains marginally
The rupee gained by almost three paise on Wednesday on strong dollar selling by exporters. Dealers said the currency opened strong at 44.13 on India's rating being upgraded to "investment grade" by the international ratings ...
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CREDIT POLICY
`Rate hike will check demand pressures'
Crisil Research expects sustained industrial buoyancy and demand pressures along with an unfavourable base effect to exert upward pressure on inflation. However, the average inflation for the year is expected to remain in the 5-5.5 per cent ...
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FINANCIAL PERFORMANCE
PNB net up 16% in Q3
Punjab National Bank (PNB) on Wednesday reported a 16.04 per cent increase in net profit for the quarter ended December 31, 2006 to Rs 429.87 crore as compared to net profit of Rs 370.44 crore in the same quarter the previous year. Total income ...
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Lakshmi Vilas Q3 net up 61%
Lakshmi Vilas Bank has clocked a 61-per cent increase in its net profit for the quarter ended December 2006. While the net profit has increased to Rs 3.09 crore (Rs 1.92 crore), its operating profit went up by 137 per cent to Rs ...
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HOUSING FINANCE
Home loans unaffected for the moment
Home loan rates may not go up just now. That's the bottom line after the announcement of the RBI policy review. The measures, including raising risk weights and increasing the provisions made by banks, are aimed specifically at bank lending ...
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Co-operative bank to provide housing loans to Bengal Govt staff
United Bank of India also signs deal
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DEBT MARKET
RBI fiat on short selling of gilts
Banks or Primary Dealers cannot accumulate a short position in any security in the HFT (held-for-trading) category in excess of 0.25 per cent of the total outstanding stock issued of each security. "Banks and PDs, which ...
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RBI & OTHER CENTRAL BANKS
RBI hikes repo rate by 25 bps
Other key markers left unchanged in Q3 review
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PUBLIC SECTOR BANKS
PNB to trim Govt stake to 51%
Punjab National Bank (PNB) plans to make an equity offering next fiscal that could lead to offloading of 6.8 per cent of the Government's stake, which currently stands at 57.8 per cent. The bank had last tapped the capital market through a ...
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`Telecom sector has a key role in achieving financial inclusion'
The telecom sector will play a major role in achieving financial inclusion in banking industry, according to Mr B. Sambamurthy, Chairman and Managing Director of Corporation Bank. Releasing Dakshina Kannada Telecom District's telephone ...
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FINANCIAL INSTITUTIONS
S&P upgrades IRFC rating
With Standard & Poor's upgrading Indian Railway Finance Corporation's (IRFC) credit rating to BBB- from BB+, the Railways financing arm hopes to be able to mobilise funds from external markets at attractive rates. In a ...
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GOVT BONDS
Bond prices rally by over a rupee
`The language of the policy is hawkish but as long as there is robust deposit growth and heavy demand for SLR securities in the near-term, bond yields would not harden'.
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SHORT TERM INSTRUMENTS
Call rates close higher
The call rate closed 7.70-7.80 per cent (7.70-7.90), higher than the RBI repo rate of 7.50 per cent. In the first two-day reverse-repo auction under LAF, the RBI received no bids and in the repo auction 30 bids for Rs 12,595 ...
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MERGERS & ACQUISITIONS
Panel to take up transfer of RBI stake in SBI, Nabard today
The Cabinet Committee on Economic Affairs (CCEA) will take up the proposal for transferring of the Reserve Bank of India's share in State Bank of India (SBI), National Bank for Agricultural and rural Development (Nabard) and National Housing Bank ...
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