The Hindu Business Line : Wednesday, May 06, 2009

MONEY & BANKING

TECHNICAL ANALYSIS: Medium term uptrend in rupee
Rupee reversed from the trough of 50.5 against the dollar and rallied to 49.3. Deluge of foreign institutional inflows of over $1.3 billion in the month of April helped the currency move higher. Weakness in dollar was the other factor that ...

FINANCIAL PERFORMANCE: Growth in interest, fee income boosts IndusInd Bank Q4 net
Profit from sale of investments soars to Rs 79.50 cr. Mumbai, May 5 IndusInd Bank reported a 250 per cent jump in its net profit at Rs 50.52 crore in the fourth quarter of 2008-09 as against Rs 14.45 crore in the corresponding period ...

FINANCIAL MARKETS: Policing capitalism
As never before in recent times, capitalism is under fire – with the one big difference that there is no challenging ideology, socialism having been disposed of almost two decades ago with the collapse of the Soviet Union. Communist ...

HOUSING FINANCE: HDFC preserves asset quality
Higher interest income, lower operating costs help profit growth. HDFC reported better than expected results for the quarter ending March 2009. While interest income grew by 36 per cent, adjusted to exceptional items (as the bank sold some ...

CREDIT MARKET: Corpn Bank cuts loan rates
Corporation Bank has reduced the rate of interest on housing, vehicle, education and personal loans with effect from May 4. A bank release said here on Tuesday that for housing loans up to Rs 30 lakh, the floating interest rates for various ...

DEBT MARKET: Only one LAF auction from today
Banks may be forced to invest in short-term money market instruments such as commercial papers, certificates of deposit and Treasury Bills as the Reserve Bank of India has announced that it will conduct only one Liquidity Adjustment Facility ...

FOREX: Rupee rallies against dollar
The rupee rallied against the dollar on Tuesday, gaining by 60 paise against the greenback. The rupee opened stronger at 49.60 and gained to touch an intra-day high of 49.29. It closed at 49.30, against the previous close of 49.90. The rupee ...

SHORT TERM INSTRUMENTS: Call rate steady
Banks continued to park huge amounts with the Reserve Bank of India under the reverse repo window in the liquidity adjustment facility. In the first LAF itself, banks put in Rs 1,18,930 crore in the reverse repo window. While there were 41 bids ...

CO-OPERATIVES: Saraswat Co-op Bank plans to acquire Anyonya Co-op
Mumbai, May 5 Saraswat Co-operative Bank, India’s largest co-operative bank, has placed a valuation of around Rs 11 crore to acquire Anyonya Co-operative Bank, the country’s oldest ...

GOVT BONDS: Bonds pare early gains
Mumbai, May 5 Bond prices rallied by almost a rupee in day trade, but pared most of the gains to close by around 50 paise higher ...

EVENTS: Banks told to raise lending to beat recession
Thiruvananthapuram, May 5 Banks in Thiruvananthapuram district have been asked to raise their lending operations in order that the squeeze on credit bequeathed by the global recession unwinds and risk appetite ...

CREDIT RATING: ‘Negative’ outlook for StanChart India bonds
Mumbai, May 5 The rating outlook on subordinated bonds of the Indian operations of Standard Chartered Bank (SCB India) has been downgraded to ‘negative’ from ‘stable’ by credit rating agency Crisil. The rating on ...