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Wednesday, May 04, 2005

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MONEY & BANKING

FINANCIAL SERVICES


Banks to float company for new settlement system
ALL banking transactions in the four metros - Mumbai, Delhi, Kolkata and Chennai - will be cleared and settled under the proposed National Settlement System (NSS) by December. The NSS will function under a limited company owned and ... More

INSIGHT


Stagflation risk poses dilemma for Greenspan
The possibility of `stagflation' has suddenly started to haunt the US economy and policymakers. More

FOREX


Rupee weakens; bond prices rally
MUMBAI: The rupee continued to trade in a narrow range due to factors such as global strengthening of the dollar and speculation about revaluation of the Chinese yuan On Tuesday, the rupee ended around 43.69 against the dollar, weaker ... More

FINANCIAL PERFORMANCE


SBBJ net lower at Rs 205 crore
STATE Bank of Bikaner and Jaipur (SBBJ) has recorded net profit of Rs 205.65 crore for 2004-05 against a net of Rs 301.52 crore in the previous year. The bank, however, recorded a higher operating profit of Rs 729.64 crore against Rs 681.35 ... More

SBH annual net drops to Rs 251 cr
STATE Bank of Hyderabad has reported a total business of Rs 45,619 crore for the fiscal ended March 2005, recording a growth of 22.77 per cent over the previous fiscal. Deposits have grown by 20.46 per cent to Rs 28,856 crore, while advances ... More

LIFE INSURANCE


LIC targets 48% rise in premium income
LIFE Insurance Corporation of India (LIC) hopes to record a 48 per cent increase in first year premium income , up from 42 per cent registered in the previous year. As much as 35 per cent of its premium collections will be on account of ... More

LIC to focus on equities, may scale up exposure
LIFE Insurance Corporation of India is readying itself for a bout of exposure to the equity market, marking a fresh regime of investing in securities that are not merely fixed-income in nature. LIC, which has around 8 or 9 per cent of its ... More

FINANCIAL POLICY


Law on microfinance bodies soon
THE Government is finalising the draft of a new legislation on microfinance institutions (MFIs). The draft is expected to be ready within the next few months. "The Government is thinking of a legislation on micro finance institutions that would ... More

PUBLIC SECTOR BANKS


Andhra Bank hopes to double retail lending
IN a bid to increase profitability in the backdrop of falling treasury incomes, Andhra Bank has decided to go aggressive in expanding its credit portfolio, especially on the retail front, the Chairman and Managing Director, Mr T.S. Narayanasami, ... More

FINANCIAL INSTITUTIONS


IDFC plans to fund more IT parks
IDFC expects its assistance to the industrial and commercial infrastructure sectors to grow. Areas such as special economic zones, hotel projects and IT parks come under this category. This sector now accounts for about 10 per cent of IDFC's ... More

APSFC net profit up 30% at Rs 13.15 cr
"We will adopt a new business plan and innovative strategies for improving the scale and scope of business." More

GOVT BONDS


Govt stock sale oversubscribed
THE auctions of the 7.55-Government Stock 2010 and the 7.50-Government Stock 2034 were oversubscribed on Tuesday. The bond market saw a rally due to the cut-off price for the bond auctions being higher than market expectations. For the 7.55 ... More


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Top Stories
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LIC to focus on equities, may scale up exposure

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Service tax exemption for farm income insurance premium

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In Focus

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In Depth

Gender Justice
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Looking back
Apr. 24-Apr. 30
RBI moots self-regulatory body for card issuing banks

`Average earner is risk averse'

Rates might take a breather for now

Time to promote intra-Asian capital flows

`At least one big ticket bank merger likely this year'

Reverse repo rate hike — PDs nervous, seek safety net

'No velvet glove to big defaulters'

Keyman cover can be sold as term policy only


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