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MONEY & BANKING
FINANCIAL PERFORMANCE:
HDFC Bank Q3 net up 45%
Mumbai, Jan. 15 HDFC Bank recorded a 45-per cent growth in net profit at Rs 622 crore for the quarter ended December 31, 2008, against Rs 429 crore in the same quarter last year, on the back of strong growth in both interest income and ...
FINANCIAL PERFORMANCE:
Other income lifts IndusInd net by 80%
NPA recovery in corporate portfolio higher than expected. Mumbai, Jan. 15 IndusInd Bank’s net profit grew by 80 per cent to Rs 45.06 crore for the third quarter of 2008-09, aided by a substantial rise in its ...
INTEREST RATES:
Andhra Bank cuts lending rate
Andhra Bank has reduced the benchmark prime lending rate (BMPLR) by 75 basis points. With this, the BMPLR has come down from the existing 13.25 per cent to 12.50 per cent with effect from January 17, 2009. The revised rate is applicable for ...
FOREX:
‘Dollar swap line facility utilisation is low at $1.04 b’
Need to disincentivise leveraging beyond a point, says RBI Deputy Governor. Mumbai, Jan. 15 Indian banks with overseas branches and subsidiaries have utilised dollar swap lines aggregating to only $1.04 billion as of January 7, 2009 as against ...
HOUSING FINANCE:
NHB to accept retail deposits
To mobilise Rs 250 cr by March. New Delhi, Jan. 15 National Housing Bank (NHB) has forayed into the retail market for deposits with the launch of two schemes - NHB Sunidhi term deposit scheme and NHB Suvriddhi (tax saving) term deposit ...
LIFE INSURANCE:
MetLife opens 12 more branches in Kerala
Thiruvananthapuram, Jan. 15 As part of its countrywide expansion drive, MetLife India Insurance Company has opened 12 new branch offices in Kerala, thus spreading its to presence 13 of the 14 districts in ...
FINANCIAL PERFORMANCE:
Bajaj Auto Finance profit rises 39%
Mumbai, Jan. 15 In a scenario of tight lending as a result of rising defaulters, Bajaj Auto Finance Ltd (BAFL) has posted a 39 per cent growth in net profit at Rs 11.28 crore in the quarter ending December 31, compared with Rs 8.12 crore ...
PUBLIC SECTOR BANKS:
SBT opens new branch in AP
Hyderabad, Jan. 15 State Bank of Travancore (SBT) has opened its branch at ...
FINANCIAL PERFORMANCE:
Bajaj Allianz Life net at Rs 30 cr
Mumbai, Jan. 15 Bajaj Allianz Life Insurance Company has made a profit after tax of Rs 30 crore for the third quarter of 2008-09 compared to a loss of Rs 35 crore in the year-ago period, due to lower acquisition expenses and management ...
FINANCIAL POLICY:
Well-defined fiscal stimulus missing
As market rallies go, this was one of the quickest and sharpest. Ten-year Indian Government bond yields nearly halved from 9.5 per cent levels to 5 per cent in about six months. Clearly, it was overdone. Yields pulled up in days last week to ...
GOVT BONDS:
Bonds volatile, close higher
Bonds opened about 60 paise higher, but fell during the day due to profit-booking. They closed about 20 paise higher from the previous close, as dealers preferred to wait and watch, ahead of the auction of Rs 10,000 crore worth government ...
FOREX:
Rupee weaker by 17 paise
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PEOPLE:
Govt nominees on bank boards
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SHORT TERM INSTRUMENTS:
Call rates steady
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