The Hindu Business Line : Wednesday, May 28, 2008

REGIONAL RURAL BANKS
‘Give priority to Nabard, RRBs in loan waiver’
Kolkata, May 27 The All India Regional Rural Bank Employees Association has urged the Government and Nabard that RRBs should be given priority for the ‘loan waiver scheme’ as the client base of regional rural banks is made up of ... More

FOREX
Rupee slides further
More

Rangarajan moots recipe to tackle big capital flows
It’s a combination of currency appreciation and sterilisation More

INFORMATION TECHNOLOGY
South Indian Bank unveils online bill payment facility
Kochi, May 27 The South Indian Bank on Tuesday launched online bill payment facility using the BillDesk platform.. Announcing the launch of the new service, Mr M. Valsan, Executive Director of the bank said, “With this tie-up with ... More

TECHNICAL ANALYSIS
Searing momentum in rupee
All eyes were riveted on the rupee as the currency slid below the Rs 43-mark last Friday. But the decline was arrested thanks to a bout of profit-booking in crude prices that dragged the commodity lower from the peak at $135.The relief ... More

FINANCIAL PERFORMANCE
TMB full year net rises 20%
Madurai, May 27 The Tuticorin-based Tamilnad Mercantile Bank (TMB) posted a net profit of Rs 126.74 crore, registering a growth rate of 19.81 per cent for the year ended March 31, 2008. Both deposits and advances of the bank recorded a ... More

LIFE INSURANCE
Aviva Life plans more branches in western region
Aviva Life Insurance is planning to launch additional 11 branches and spokes in western India taking the total number to 60 branches and spokes covering Pune, Indore, Jamnagar, Bardoli, Barwani, Jhansi,Surat, Rajkot, Gwalior and Jabalpur. ... More

PRIVATE BANKS
HDFC Bank to seek nod to raise borrowing limit
HDFC Bank will seek shareholders’ nod to enhance the ceiling limit for borrowing by its board of directors for the purpose of business activities. A hike in the ceiling limit has become necessary due to an increase in the bank’s ... More

PUBLIC SECTOR BANKS
PNB’s 24th branch in Bangalore
Punjab National Bank opened its 23rd branch in Bangalore. The new branch is located at HSR Layout. PNB now has 48 branches in the State. The HSR Layout branch was inaugurated by Ms Devaki Muthukrishnan, Regional Director of the Reserve Bank of ... More

INTEREST RATES
No case for rates to go up in immediate term, says Kamath
Kolkata, May 27 There is no case for the interest rates to move up in the immediate future, said Mr K.V. Kamath, President of CII and Managing Director and Chief Executive Officer, ICICI Bank, addressing a CII meeting, here on ... More

CREDIT MARKET
Deccan Grameena Bank to focus on loans to women to buy gold
Hyderabad, May 27 Deccan Grameena Bank, sponsored by State Bank of Hyderabad, is planning to aggressively market its deposit-linked loan scheme to buy gold, offered exclusively to women. The recently-launched loan, christened as ... More

Magma Shrachi to offer personal loans
Mumbai, May 27 Magma Shrachi Finance Ltd, a financial services company, today announced that it will be entering the business of providing personal loans. The company will offer big-ticket personal loans to salaried individuals and the ... More

Banks want equipment performance guarantee for power projects
Companies going more for Chinese suppliers due to hefty discounts More

SHORT TERM INSTRUMENTS
Call rates end higher
More

MERGERS & ACQUISITIONS
PNB keen on 51% stake in Bhutan venture
Punjab National Bank is keen to take a 51 per cent stake in the proposed joint venture for setting up a bank in Bhutan. It had recently signed a memorandum of understanding with local promoters in Bhutan for such a venture. ... More

BONUS ANNOUNCEMENTS
Sundaram Fin bucks weak trend in car, CV segments
Net profit rises 35%; announces 1:1 bonus, to pay 50% final More