Business Daily from THE HINDU group of publications
Thursday, April 23, 2009
ePaper | Mobile/PDA Version | Audio | Blogs
Business Daily from THE HINDU group of publications Thursday, April 23, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
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MONEY & BANKING INFORMATION TECHNOLOGY: IT-enabled banking services picking up New Delhi, April 22 There has been a sharp increase in the use of IT in banking services. The Reserve Bank of India devoted almost three pages to it in Annual Policy Statement for 2009-10, released ... CREDIT POLICY: ‘RBI move will put pressure on banks to lower lending rates’ Mumbai, April 22 Corporates are hopeful that the Reserve Bank of India’s cut in repo and reverse repo rates by 25 basis points each will put pressure on financial institutions to cut interest rates and provide some relief. ... FOREX: Large capital inflows prompt exporters to take forward cover Rupee seen rising in near term; domestic credit costs may come down. Bangalore, April 22 Exporters have begun taking forward cover after almost six months, with the rupee expected to begin appreciating against ... PEOPLE: Paneer Selvam passes away The banking world will remember A.T. Paneer Selvam, former Chairman and Managing Director of Union Bank, former Chairman of Indian Banks Association, and a director on the board of Axis Bank, who passed away on Tuesday , as a very ... FOREX: Rupee volatile, ends flat The rupee was volatile as it reflected the movement in the equity markets, said forex dealers. The rupee opened higher at 50.30/33. During the day, it touched a high of 50.07 and a low of 50.40/42. It closed at almost the same levels as the open ... SHORT TERM INSTRUMENTS: Call rates marginally lower Though the Reserve Bank of India cut reverse repo rates by 25 basis points to discourage banks from parking their funds with it, banks deposited around Rs 98,000 crore with the central bank on Wednesday. In the first liquidity adjustment ... GOVT BONDS: Bonds flat on profit taking The bond prices closed flat on Wednesday after coming off highs due to profit taking from investors, said dealers. The momentum from the rate cut announcements continued today with the market rallying by more than a rupee. However, profit booking ... FINANCIAL PERFORMANCE: SBM targets 30% growth in business Net profit for 2008-09 up 6% at Rs 337 crore. Bangalore, April 22 State Bank of Mysore has targeted a business growth of 30 per cent for the current financial year at Rs 75,000 crore, though it ruled out any additional ... CRR & BANK RATES: ‘Policy supports economic growth’ In line with policy easing by central banks globally and to counter the weakness in domestic industry and exports, the RBI has cut the repo rate and reverse repo rate by 25 bps, while keeping the bank rate unchanged, Mr O.P. ... INTEREST RATES: Industry bodies seek more reduction in rates The apex chambers of commerce and industry hailed the Credit Policy announced by the Reserve Bank of India (RBI) on Tuesday but expressed that there was a need for further ... FINANCIAL PERFORMANCE: YES Bank Q4 net up 24% on rise in biz Mumbai, April 22 YES Bank posted a net profit of Rs 80 crore for the quarter ended March 31, 2009, up 24 per cent from Rs 64.5 crore in the same period last year. The rise in profits is on the back of increase in business, said Mr Rajat ... MONETARY POLICY: ‘Bid to keep net borrowings at previous year’s level’ Thiruvananthapuram, April 22 The monetary measures announced by the Reserve Bank are aimed at ensuring that aggregate net borrowings is kept at levels comparable with the ... FIXED DEPOSITS: HDFC Bank cuts deposit rates Mumbai, April 22 HDFC Bank, the second largest private sector bank, has reduced the interest rates on deposits of some tenors by 25-35 basis points, with ... CRR & BANK RATES: Finely modulated Policy It is well recognised that the Indian economy is facing serious uncertainties and there are obvious political economy pressures on the Reserve Bank of India (RBI) to relax monetary policy, notwithstanding the short/medium-term problems attendant ... CREDIT POLICY: Reduction in cost of credit to users crucial New Delhi, Apr 22 The monetary policy statement of the central bank for the current fiscal has not disappointed purists by sticking to its conventional stance of being too cautious in taking an overtly populist position, despite shrill call ... Comments & Letters to the Editor to: bleditor@thehindu.co.in Subscribe to: Business Line |
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