MONEY & BANKING
MUMBAI: The rupee on Wednesday closed steady at 45.3450/3500 in its value against the dollar on account of active intervention by the central bank, said forex dealers. The domestic currency had opened at Tuesday's closing level of ...
Some forex pile under external managers
LIKE other emerging market economies, India too has a small portion of its bulging foreign exchange reserves at the disposal of external asset managers. "The asset managers are carefully selected from among the internationally reputed ones. ...
Steady rise in NRI remittances
A significant share of the remittances to India continues to be contributed by inflows from the oil exporting countries of West Asia.
Insurance-model disaster solution from Comsat Max
COMSAT Max has announced the launch of managed disaster recovery solution (DRS) that is based on the `insurance premium model'. Under this model, most resources right from servers, alternate network and storage are provided by Comsat Max. ...
Infosys in Philippines deal
BANGALORE: Infosys Technologies Ltd has announced that its banking business unit is partnering with Microsoft Philippines, a division of Microsoft Corporation and Intel Microelectronics Philippines Inc to provide e-banking solutions to ...
`Tech must aid banks growth'
LIC Housing net up at Rs 45 cr; to hike equity
LIC Housing Finance has reported a 9.4 per cent increase in net profit at Rs 45.23 crore for the quarter ended December 31, 2003 against Rs 41.34 crore during the corresponding year-ago quarter. The board of directors has given its approval to ...
Credit offtake lifts IOB net 57 pc
BUOYED by credit offtake, Indian Overseas Bank achieved a higher net profit of Rs 435.41 crore for the first nine months of the current year, compared with Rs 277.87 crore in the corresponding period of last year a rise of 56.76 per ...
Andhra Bank net falls on lower trading income
ANDHRA Bank has reported lower net profit of Rs 93.54 crore for the third quarter of the current financial year as against Rs 136.98 crore for the second quarter. Briefing reporters after the bank's board meeting, the Executive Director, Mr R. ...
Dena Bank Q3 net up at Rs 71.85 cr
DENA Bank Ltd has recorded a 186.94 per cent rise in net profit at Rs 71.85 crore for the third quarter ended December 31, 2003 compared to a net profit of Rs 25.04 crore for the corresponding period in the previous year. Total income of the ...
RBI & OTHER CENTRAL BANKS
Inflation may not attain downward bias: RBI
THOUGH the Reserve Bank of India maintains its inflation forecast range of 4-4.5 per cent, the downward bias "may not be attainable,'' said RBI's recently published, Report on Currency & Finance 2002-03. According to the report, the uncertainty .
`India merits higher rating'
THE Reserve Bank of India has observed credit rating agencies that play an important role in accessing commercial borrowings abroad don't always take into account factors which indicate financial crisis and default. While sovereign credit ...
FDI inflow slowed during last fiscal: RBI report
INFLOWS of foreign direct investment have slowed down in 2002-03 in tune with the global scenario while Indian investments overseas in recent years have increased significantly reflecting the global outreach of Indian companies, according to the ...
Hudco okays Rs 4,680-cr loans in nine months
HOUSING and Urban Development Corporation (Hudco) has sanctioned nearly Rs 4,680 crore for 199 schemes, involving a project cost of Rs 11,275 crore in the first nine months of the current financial year. The State-owned financial institution ...
ECGC equity base hiked to Rs 800 cr
SBT mulls bonds issue by March
STATE Bank of Travancore (SBT), which posted 70 per cent growth in net profit during the nine-month period ended December 31, is considering issue of bonds worth Rs 100 crore to Rs 150 crore by March 31 or early next financial year. The ...
Cross Currency Rates
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