The Hindu Business Line : Sunday, July 18, 2004

FOREX
Forex reserves surge $700 m on FII inflows
AIDED by significant dollar inflows, the country's forex reserves surged by $700 million for the week ended July 9, 2004, as per the latest RBI statistics. The forex reserves jumped to $120,778 billion for the week ended July 9, from $120.078 ... More

INFORMATION TECHNOLOGY
Bank of Bahrain goes live with RTGS
BANK of Bahrain and Kuwait announced that its Indian operations went live on Friday with the real time gross settlement (RTGS) system under the framework and guidelines of the Reserve Bank of India. In a press release here, the bank said RTGS ... More

Karnataka Bank goes live with RTGS
KARNATAKA Bank Ltd went live with real time gross settlement (RTGS) transaction on July 16. A bank release said here that the payment gateway of the bank is located at the head office here. The release said the bank has plans to put the ... More

FINANCIAL PERFORMANCE
Union Bank posts 32.42 pc growth in net
LED by a over 100 per cent rise in other income, Union Bank of India has recorded a 32.42 per cent growth in net profit at Rs 210.40 crore for the quarter ended June 2004, against a net profit Rs 158.88 crore in the corresponding period the ... More

MERGERS & ACQUISITIONS
Federal Bank close to buying 4 branches of another bank
FEDERAL Bank is close to finalising acquisition of four branches of another bank, the bank's Chairman Mr K.P. Padmakumar told Business Line. Mr Padmakumar had earlier mentioned the proposal to buy the branches; now he said that the ... More

Cross Currency Rates

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Forex reserves surge $700 m on FII inflows

Commodity futures turnover to zoom

Electrical industry sure of posting 15 pc growth

Looking back
Jul. 11-Jul. 17
Tax on deposits a big blow, say NRIs

Rising inflation, Budget numbers worry market

RBI profit may fall in 2004-05

One-time settlement plan for small farmers — IBA asks banks to implement farm schemes

Corporates opt for floaters to raise funds

Insurance scheme for deficient rainfall launched

New tax regime lures NRIs to capital markets

Rescheduling of farm loans to lift credit offtake