The Hindu Business Line : Saturday, April 30, 2005

Rupee up 15 paise; gilts lacklustre
MUMBAI: The rupee rallied against the dollar on Friday ending the day at 43.54/55 fuelled by speculation about the revaluation of the Chinese yuan and heavy selling by banks and corporates. With the trend towards higher inflation and ... More

CREDIT POLICY

`Addresses concerns of inflation, growth'
THE Reserve Bank of India remains bullish on growth in the economy, and the increase in reverse repo rate by 25 basis points signals its concern to keep up the growth momentum but have inflation under control, according to the SBI Chairman, Mr ... More

FINANCIAL PERFORMANCE

PNB annual net up 27 pc
PUNJAB National Bank (PNB) has registered a net profit of Rs 1,410.12 crore for fiscal 2004-05, a 27.02 per cent growth over the previous year's net of Rs 1,108.69 crore. However, the operating profit was lower at Rs 2,707.20 crore (Rs 3,120.86 ... More

Bank of India fourth quarter net drops 85 pc to Rs 53 cr
A decline in the profits from sale of investments and higher provisioning has resulted in Bank of India's net profit dropping by 85 per cent to Rs 52.79 crore for the fourth quarter ended March 31, 2005, against Rs 349.10 crore in the ... More

IDBI's 6-month net at Rs 307 cr
INDUSTRIAL Development Bank of India (IDBI) has earned net profit of Rs 307 crore during the six-month ended March 31, 2005. The bank has not given comparable figures for the corresponding period in the previous year. The Reserve Bank of India ... More

Marginal rise in SBT annual net
STATE Bank of Travancore (SBT) has recorded a marginal rise in net profit during 2004-05. The bank earned a net profit of Rs 247.13 crore during the year as against Rs 244.60 crore in 2003-04. The operating profit increased by Rs 101.22 crore ... More

LIFE INSURANCE

Keyman cover can be sold as term policy only
IN a significant move, the Insurance Regulatory and Development Authority (IRDA) has directed life insurance companies to sell the `keyman insurance cover' only as term policy for some time. The decision was arrived at after taking serious ... More

LIC in bancassurance pact with Dena Bank
LIFE Insurance Corporation of India has signed its 32nd bancassurance agreement with Dena bank. Under the current understanding, Dena Bank will serve as a corporate agent and offer products of LIC through its branch network. Of the Rs 200 ... More

GENERAL INSURANCE

NGO in pact with ICICI Lombard for health insurance plan
SRI Kshetra Dharmasthala Rural Development Project (SKDRDP), a Dakshina Kannada-based non-governmental organisation, has entered into an agreement with ICICI Lombard General Insurance Company Ltd for implementing the health hospitalisation ... More

FINANCIAL POLICY

Ministry ratifies EPF rate of 9.5 pc — Awaits CBT nod for 2004--05 rate
THE Finance Ministry has ratified the interest rate of 9.5 per cent for 2002-03 and 2003-04 on the employee provident fund accumulations of about four crore subscribers of the EPF scheme. For 2004-05, the Ministry is awaiting the final ... More

PUBLIC SECTOR BANKS

Union Bank eyes 25 pc growth in business this fiscal
UNION Bank of India (UBI) has now set its eyes on achieving Rs 1.25-lakh crore of business for the current fiscal. Announcing this here on Friday, the Chairman and Managing Director, Mr K. Cherian Varghese, said the bank expected a growth of 25 ... More

SBH donation
HYDERABAD: State Bank of Hyderabad (SBH), under its community services banking activities, has donated 15 pairs of crutches, 23 tri-cycles and one wheelchair worth Rs 90,000 to poor physically challenged persons of Vocational ... More

GOVT BONDS

Rs 8,000-cr Govt stock sale on May 3
THE Union Government has announced that it would raise Rs 8,000 crore through the auction of two dated securities using the multiple price auction method. The Reserve Bank of India will conduct the sale on May 3. According to an RBI release, ... More

CO-OPERATIVES

Sivaganga co-op bank depositors unhappy over delay in Nabard inspection
THE depositors of Sivaganga District Central Co-operative Bank Ltd (SDCCB) are unable to withdraw their money as inspection of the four-member team from the National Bank for Agriculture and Rural Development (Nabard), on the direction of the RBI ... More

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Spices exports rise 18 pc in 2004-05

GE Shipping Q4 net up 36 pc to Rs 252 cr

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In Focus

BHEL Disinvestment

China's revaluation

Dabhol power regenerated

Tracking the rains