The Hindu Business Line : Wednesday, July 23, 2008

MONEY & BANKING

FINANCIAL PERFORMANCE: IDBI Bank Q1 net profit marginally up at Rs 160 cr
Rising interest rates, bond yields result in lower treasury income. Mumbai, July 22 IDBI Bank posted almost flat growth in net profit for the quarter ended June 30, 2008, due to a fall in other income. Rising interest rates and bond yields ...

FOREX: Rupee a tad lower
The rupee depreciated marginally against the dollar on a day that witnessed highly volatile trading. The domestic currency opened at 42.66/68 and closed at 42.73/74, against the previous close of 42.67/68. In intra-day trade, it touched a high of ...

GOVT BONDS: Bonds fall marginally
Bond prices fell slightly as traders lightened their positions ahead of the trust vote.Total traded volumes on the order-matching system were at Rs 1,915 crore (Rs 2,910 crore). Dealers said that there was little trading interest in the market. ...

LIFE INSURANCE: Aviva, McDonald’s tie up
Aviva Life Insurance has announced a tie up with McDonald’s, a leading fast food chain in India, to promote its new marketing initiative ‘Tension Chhodo Cricket Khelo’ (TCCK). TCCK is a mass activation campaign that will ...

HUMAN RESOURCES: SBI programme for subordinate staff
State Bank of India has launched ‘Parivartan –II’, a programme of mass communication that hopes to reach out to about 44,000 subordinate staff comprising messengers, watch and ward and sweepers within the next 50 days. The bank ...

SHORT TERM INSTRUMENTS: Call rates unchanged
Inter-bank call rates closed at 9.5-9.6 per cent, almost unchanged from the previous close of 9.4-9.5 per cent. The Reserve Bank of India received and accepted 39 bids for Rs 44,265 crore in the one-day reverse repo auction. There were no repo ...

PUBLIC SECTOR BANKS: Corporation Bank increasing branchless banking units
Mangalore, July 22 Corporation Bank, which has initiated branchless banking units to reach the people in unbanked areas, is gradually increasing the number of such units in rural areas. In addition to this, the bank is expanding the facility ...

FARM CREDIT: Nabard plans farmers’ SHGs to expand lending
Kolkata, July 22 With an aim to facilitate agricultural lending among small and marginal farmers, the National Bank for Agriculture and Rural Development (Nabard) would help in the setting up of self-help groups (SHGs) of farmers, which can be ...

RBI & OTHER CENTRAL BANKS: RBI reserves nod for mobile payment services
Mumbai, July 22 The Reserve Bank of India has advised banks not to offer mobile payment services until final guidelines for the same are ...

FINANCIAL PERFORMANCE: Bank of Rajasthan net up at Rs 31 cr
Mumbai, July 22 A fall in other income saw Bank of Rajasthan’s net profit increase marginally by 2.49 per cent for the quarter ended June 30, 2008. ...

FIXED DEPOSITS: Oriental Bank to focus on low-cost demand deposits mobilisation
Kolkata, July 22 The Kolkata region of Oriental Bank of Commerce plans to focus on mobilising low-cost demand deposits in order to shore up its profits in 2008-09, according to a press release from the ...

INSIGHT: Moral hazard and its harmful role in credit market crisis
The moral hazard in lending is integral to the US banking system that is considered ‘developed’; India’s relatively ‘unsophisticated’ regime actually does a better job in this respect. RAJESH HALDIPUR contrasts the ... cal value chain in the US mortgage lending market with what obtains in India..

ECONOMY: ‘Peak’ oil’s scary prospects
What goes up must come down, goes the saying. But the price of oil has defied the law of gravity, at least thus ...