The Hindu Business Line : Wednesday, May 09, 2007

`Rising Re will hit synthetic exports'
Exports of man-made fibre textiles are expected to slow down as a result of the appreciating rupee. The target of $2,921 million set for the current financial year looks a distant possibility in the current scenario, according to ... More

Rupee closes flat
The rupee closed almost flat on Tuesday. The currency closed at 40.85/86 against the previous close of 40.87. "The domestic currency saw a two-way movement. It opened at 40.87, which was also the intra-day low and saw an ... More

FINANCIAL PERFORMANCE
Syndicate Bank's full-year net rises 33% to Rs 716 cr
Recommends 13% final dividend; advances surge 40% More

Kotak Mahindra Bank posts Rs 37-cr net profit in Q4
Sees 82% growth in current and savings account deposits More

West Bengal State Co-op Bank net down at Rs 10 cr
Despite satisfactory performance on various fronts in 2006-07, the West Bengal State Cooperative Bank (WBSCB) posted a lower net profit at Rs 10.01 crore (Rs 14.05 crore in 2005-06), largely due to heavy tax burden in 2006-07. The bank paid an ... More

FINANCIAL POLICY
RBI fiat to NBFCs on loans to directors
The Reserve Bank of India has asked non-banking financial institutions (NBFCs) not to grant any loan, or non-fund based facility to its directors, their relatives or to any firm in which any of its directors have interest to obviate conflict of ... More

RBI & OTHER CENTRAL BANKS
Fed will stay the course for now
As usual, global financial markets, last Friday, eagerly awaited the release of data on US jobs. The previous week had seen first-quarter GDP growth dipping to just 1.3 per cent (annualised), almost bordering recession. A weak jobs report ... More

RBI's decision on funds transfer hailed
The Tamil Nadu Chamber of Commerce and Industry has thanked the RBI for accepting the proposal of its study group to refrain from charging fee on transfer of funds through paper-based cheques and drafts. Describing it as a ... More

PUBLIC SECTOR BANKS
SBH opens ATM
State Bank of Hyderabad has installed a second ATM at its Gunfoundry branch here. Mr Amitabha Guha, Managing Director, SBH, inaugurated the ATM in the presence of other senior officials, according to a release. Currently, the ... More

FOREIGN BANKS
StanChart sees jump in electronic transactions
Launches one-stop service platform for corporates More

GOVT BONDS
Bond prices gain 25 paise
Bond prices rose by around 25 paise on good liquidity in the system. Total traded volumes on the order matching system were Rs 2,515 crore (Rs 900 crore). Dealers said the marked increase in cash and cooling of call rates led to ... More

SHORT TERM INSTRUMENTS
Call rates end lower
Banks placed bids worth Rs 28,595 crore with the RBI through the reverse repo window, while the central bank accepted Rs 3,000 crore. The RBI lent to banks Rs 30 crore under the repo window. Call closed lower at 4.50 - 4.75 per ... More

FIXED DEPOSITS
LIC Housing floats FD scheme; looks at containing fund costs
Expects to raise Rs 1,000 cr this fiscal More

PEOPLE
Why the World Bank would likely remain standing
Debate rages on whether Mr Paul Wolfowitz, President of World Bank, should go, paying the price for the `favours' he had meted out to his girlfriend. Also, alive is a debate if the World Bank should go, too. "The opposition to the World Bank is ... More

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