The Hindu Business Line : Tuesday, June 26, 2007

OVERSEAS BORROWINGS
IndusInd Bank gets $50-m credit line from Wachovia Bank
IndusInd Bank, a private sector bank, has got a $50-million credit line from the US-based Wachovia Bank for providing trade-related financing to its clients. The tenure of the credit line would be 13 months. This arrangement cuts the lead-time ... More

FINANCIAL SERVICES
Thomas Cook to focus on `organic growth'
Aims at strengthening corporate travel business More

FOREX
On purchasing power parity, the rupee is undervalued substantially
The rupee appreciation story is showing no signs of leaving the limelight. Industry, Government and other stakeholders are battling with the fallout of the domestic currency's sudden spurt — about eight percentage points in the past few ... More

Rupee sheds 12 paise
The rupee fell against the dollar on demand for greenback. The domestic currency opened at 40.77/79 and closed at 40.87/88, against the previous close at 40.75/76. "The sentiment was negative as traders felt that the RBI would ... More

FINANCIAL PERFORMANCE
HSBC posts 64% rise in net profit
The Hongkong and Shanghai Banking Corporation Ltd India has reported a 64 per cent rise in net profit at Rs 846 crore for the year ended March 31, 2007 against Rs 515 crore in the previous year. The bank's total income during the year increased ... More

Bank of America net up 35%
Bank of America has reported a net profit of Rs 195.5 crore for the year ended March 31, 2007, 35 per cent higher than the previous year. "The substantial improvement in net profit was a consequence of higher revenues, while ... More

SOFTWARE
IT spending highest in banking, insurance segment: Nasscom study
More

CONSUMER FINANCE
UTI Bank offering loans for Hyundai customers
UTI Bank has tied up with Hyundai Motor India Ltd to provide car finance to its customers. The bank plans to utilise Hyundai's extensive dealer network and its service mark Hyundai Finance for marketing its car loans, while Hyundai will jointly ... More

PRIVATE BANKS
UTI Bank defers capital raising plan
UTI Bank Ltd today informed the BSE that the bank has deferred the issues pertaining to raise capital and preferential allotment of shares in order to provide promoter shareholders further time for consultation. These will now be ... More

PUBLIC SECTOR BANKS
Vijaya Bank on recruitment spree
Sets Rs 76,000-cr biz target More

GOVT BONDS
Bond prices up 30 paise
Bond prices rose 30 paise and the yields fell by about 5 basis points backed by comfortable liquidity in the system. The yield on the 10-year-paper ended at 8.18 per cent against the previous close of 8.23 per cent. "The ... More

NON-PERFORMING ASSETS
Punjab & Sind Bank chief wants board recast
`Govt must induct professional independent directors' More

SHORT TERM INSTRUMENTS
Call rates close at 2.75-3.25%
The inter-bank call rates eased to close at 2.75-3.25 per cent on Monday against the previous close of 0.1-0.2 per cent. The Reserve Bank of India received bids worth Rs 61,070 crore through the reverse repo window, under the two ... More

MORTGAGE
`Reverse mortgage scheme will take time to gain acceptance'
Dewan Housing Finance receives 150 enquiries; offers 12% More

ALLIANCES & JOINT VENTURES
Societe Generale eyes insurance market with jt venture plans
More