The Hindu Business Line : Saturday, January 31, 2009

MONEY & BANKING

CREDIT RATING: Moody’s lowers credit outlook for banking system
Move indicates quality of assets could become weak. Mumbai, Jan. 30 Moody’s Investors Service has downgraded the fundamental credit outlook for the Indian banking system over the next 12 to 18 months to negative from ...

FINANCIAL PERFORMANCE: PNB net profit grows 86% on surge in treasury income
PLR cut by 50 bps; deposit and home loan rates trimmed. New Delhi, Jan. 30 Taking a cue from the RBI Governor, Dr Subbarao’s observation that banks had scope to further reduce lending rates, public sector lender Punjab National Bank (PNB) ...

FOREX: Rupee gains 10 paise
The rupee appreciated by 10 paise against the dollar on Friday, in a range- bound market. The domestic currency opened at 49.12 and touched an intra-day high of 48.85. It closed at 48.87, against the previous close of 48.97/98. The rupee ...

SHORT TERM INSTRUMENTS: Call rate steady
The inter-bank call rate closed at 4.10-4.20 per cent, same as the previous close. In the three-day repo auction under the first liquidity adjustment facility (LAF), there were no bids. In the reverse repo auction, the RBI received and accepted ...

FINANCIAL PERFORMANCE: IOB net profit increases 26%
Chennai, Jan. 30 Indian Overseas Bank has reported a 26 per cent increase in net profit at Rs 388.4 crore for the third quarter ending December 31, 2008, compared with the corresponding quarter of the previous year when it reported a ...

FINANCIAL PERFORMANCE: Rise in treasury profits, interest income lift Oriental Bank net 82%
New Delhi, Jan. 30 An increase in treasury profits and interest income raised Oriental Bank of Commerce’s net profit for the third quarter ended December 2008 by 82 per cent to Rs 252 ...

RBI & OTHER CENTRAL BANKS: RBI to allow prepaid instruments up to maximum value of Rs 50,000
Mumbai, Jan. 30 The Reserve Bank of India, in its draft guidelines on the issuance and operation of prepaid instruments in India, said it will allow banks and non-bank finance companies to issue all categories of prepaid payment ...

INSURANCE: State Farm-Satyam pact to end on Feb 14
Hyderabad, Jan. 30 The 15-year association between State Farm Insurance of the US and the crisis-hit Satyam Computer Services will end on February ...

FOREX: Forex reserves decrease by $4.55 b
Mumbai, Jan. 30 The country’s foreign exchange reserves decreased by $4.55 billion to touch $247.621 billion for the week ended January ...

NBFCS: Cholamandalam DBS to rejig capital
Cholamandalam DBS Finance Ltd, the joint venture of Murugappa Group and DBS Bank, Singapore, has decided to go for capital restructuring to provide for loan losses and infuse ...

FINANCIAL PERFORMANCE: Karur Vysya Bank net up 28%
Coimbatore, Jan. 30 Karur Vysya Bank’s net profit for the third quarter of the current fiscal rose to Rs 59.25 crore against Rs 46.43 crore a year ago, registering a growth of 27.61 per cent. The operating profit increased 108.3 per cent ...

FINANCIAL PERFORMANCE: DCB reports net loss of Rs 3.22 cr
Mumbai, Jan. 30 The Development Credit Bank has reported a net loss of Rs 3.22 crore in the quarter ended December 2008, compared to a net profit of Rs 25.71 crore in the corresponding quarter in the year-ago period. Higher provisioning ...

OVERSEAS INVESTMENTS: PNB gets nod for second branch in HK
New Delhi: Punjab National Bank plans to open “very soon” its second branch in Hong Kong, its Chairman & Managing Director, Dr K.C. Chakrabarty, said. On Friday, the Reserve Bank of India gave its nod for PNB ...

FINANCIAL MARKETS: Tracking movements, recovery patterns in a banking crisis
What is the real cost of reviving an economy laid low by a banking crisis? It extends beyond the so-called bailout package to an 86 per cent increase in government debt in the three years following such a ...

CREDIT POLICY: Monetary policy review: RBI cautious on opening the credit tap further
New Delhi, Jan 30 The latest monetary and credit policy review of the apex bank applying break or pause button before easing policy rates further to help underpin growth impulses in the economy, otherwise mired in slowdown or incipient ...

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Markets (Jan 30)

Nifty (at close)	2,874.55(+50.60)
US Dollar (Buy/Sell)	48.87/88
Brent crude (a bbl) Rs	2,178
Gold (a gram) Rs	1,271
Silver (a kg) Rs	20,330

Cross Currency Rates

In Focus
Who is hiring?

More

Other Top Stories
State Farm-Satyam pact to end on Feb 14

Satyamites to get salaries today

RBI to allow prepaid instruments up to maximum value of Rs 50,000

Hiring sentiment falls to new low

PNB net profit grows 86% on surge in treasury income

Spice Comm rise puzzles marketmen

L&T: Exposure to Satyam not subject to mark-to-market accounting

Looking back
Jan. 18-Jan. 24
‘An opportunity to introduce capital account convertibility’

Bonds rally on deluge in deposits; impetus for credit offtake likely

NBFCs’ tale of woes

Indian economy: Near zero growth?

IOC sees window to convert forex loans into rupee

Union Bank net rises 84% on growth in interest income