The Hindu Business Line : Sunday, July 27, 2003

PNB cuts rate on crop loans
NEW DELHI: Punjab National Bank (PNB) has reduced interest rates on agricultural lending in the wake of the recent cap on such lending announced by the Government. The interest rate on production credit limits up to Rs 50,000 will now be ... More

FOREX

Forex reserves rise $844 m
THE country's forex kitty has been fortified by another $ 844 million for the week ended July18, 2003, taking the total reserves to $ 84.101 billion, as compared to $ 83.257 billion in the previous week. The bulk of the gains this week has been ... More

FINANCIAL PERFORMANCE

Dena Bank net zooms
MUMBAI: Dena Bank Ltd has recorded a 727 per cent jump in net profit at Rs 29.20 crore for the first quarter ended June 30, 2003, as compared to a net profit of Rs 3.53 crore in the corresponding period, the previous year. Total income ... More

PNB net profit up 5 pc in first quarter
NEW DELHI: Punjab National Bank (PNB) has recorded a net profit of Rs 251.76 crore for the first quarter ended June 30, 2003, a 24.5 per cent growth against Rs 202.5 crore registered in the corresponding period of the previous year. Net ... More

Oriental Bank net up 38 pc
NEW DELHI: Oriental Bank of Commerce (OBC) has posted a net profit of Rs 142.16 crore for the first quarter ended June 30, 2003, which is higher by 38.36 per cent compared to the net profit of Rs 102.74 crore for the first quarter ended ... More

NBFCS

Ashok Leyland Finance: On track
THE fixed deposit programme of Ashok Leyland Finance is one of the better fixed-income options available in the market. Not only are the interest rates attractive, they are also higher than the general market rates at ... More

LIFE INSURANCE

Pure plan terms — Just protection for family
AJAY, a well-settled professional in his early thirties and blessed with two young children and a lovely wife, leads a happy life. One day, a morose thought strikes him: "What will happen to my family if I were to ... More

INSURANCE CORNER
ICICI Pru's ForeverLife
THE importance of a having sufficient funds at one's disposal to meet an exigency after retirement cannot be emphasised enough. It is to address this need that insurance companies have launched pension plans. This week ... More

PUBLIC SECTOR BANKS

PSBs: Performing assets, now
TIMES have never been better for public sector banks (PSBs). For years, even their business model was in doubt. All that has changed now. They are minting profits and the return on their assets has improved too . ... More

NPA management: The key to enhanced yields
THE Oriental Bank of Commerce and Bank of India cases highlight the ability of NPA management to boost profitability. In 2002-03, Oriental Bank of Commerce recovered Rs 492 crore of advances previously classified as ... More

Low-cost deposits: The arbiter of fortunes
ALMOST all PSBs, irrespective of their size or place of operations, seem set to record reasonable profit growth in 2003-04. However, that does not mean that all of them will continue to remain in the pink in the ... More

Bank stocks are risky
ORDINARILY bank stocks are considered least risky. These are, however, not ordinary times. There are factors at work that make investing in larger bank stocks a risky proposition. The catalysts, which will unlock ... More

Corpn Bank to target exporters
CORPORATION Bank has secured the RBI's approval for catering to the needs of exporters who use the services of Export Credit Guarantee Corporation. It now plans to offer more policies to the exporter community. The bank is probably the first ... More

NON-PERFORMING ASSETS

Lenders Liability Bill by year-end: Adsul
THE Lenders Liability Bill, which will make lenders also accountable for loan accounts, is likely to be introduced by the end of the current financial year. "The Bill is being drafted and once it is ready, it will be examined by the Standing ... More

CREDIT MARKET

Bank credit dips by Rs 7,243 cr
BANK credit has fallen by Rs 7,243 crore for the fortnight ended July 11, to touch Rs 7,25,574 crore. This is primarily due to a sharp decline in food credit, which was down by Rs 6,478 crore and a dip in non-food credit, which fell by Rs 765 ... More

EVENTS

Poor governance, corruption hampering growth: Chidambaram
DETERIORATING standards of governance, increased corruption and the politicisation of issues - both at the Union and State Government level - have hampered India's growth, said the former Union Finance Minister, Mr P. Chidambaram, here on ... More

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