The Hindu Business Line : Friday, May 06, 2005

UAE Exchange branches at Armur and Rajahmundry
HYDERABAD: UAE Exchange & Financial Services, the money transfer and money exchange house has opened two branches at Armur and Rajahmundry in the State on Thursday. With this, the total branches in the State are 10 and 110 in the ... More

FOREX

Rupee at 3-month high; securities range-bound
MUMBAI: The rupee strengthened against the dollar on Thursday to close at a three-month high on strong liquidity and speculation about revaluation of the Chinese yuan. The rupee opened at 43.45/46, stronger than Wednesday's close of ... More

FINANCIAL PERFORMANCE

HDFC net jumps 16.7 pc in Q4; to pay Rs 17/share
HOUSING Development Finance Corporation (HDFC) has reported a 16.7 per cent increase in net profit for the fourth quarter ended March 31, 2005. Net profit for the quarter amounted to Rs 347.8 crore against Rs 297.97 crore in the corresponding ... More

HOUSING FINANCE

HDFC Property Fund to take off this year
THE current financial year will see the actual fulfilment of the HDFC Property Fund, which has received more than Rs 1,000 crore, the total target corpus for its initial scheme, said Mr Keki M. Mistry, Managing Director, HDFC Ltd. The Fund, ... More

FINANCIAL POLICY

Pvt bank stocks buoyant as cap on voting rights goes
AFTER weeks of sluggishness, banking stocks rode a smart rally today as the markets welcomed the announcement of banking reforms. Even before the real impact of these announcements could be analysed, positive sentiment enveloped the markets - ... More

Dividend pay-out raised to 40 pc — BI sets tough norms
The proposed dividend should be payable out of the current year's profit. More

Left parties oppose lifting of voting rights cap
THE Left parties are all set to oppose the proposed Bill to lift the 10 per cent voting rights cap in private banks. "The move is not in the interest of the economy. We will oppose it in Parliament," senior CPI Leader Mr D. Raja said. He ... More

PRIVATE BANKS

`Private banks now more attractive'
PRIVATE banks can hopefully look forward to good quality investment following government lifting the voting cap of 10 per cent. This effectively means that investors in private banks will now get voting rights in proportion to the stake they ... More

Govt to allow proportionate voting rights in banks
THE Union Cabinet on Thursday approved the introduction of a Bill to lift the 10 per cent voting rights cap in private sector banks. The Bill to amend the Banking Regulation Act, 1949, would make voting rights commensurate with economic ... More

HDFC Bank plans more branches in Mumbai, Pune
HDFC Bank is planning to expand branch network. The bank, which has about 70 branches in Mumbai, would be making it one hundred by the year-end. Talking to newspersons, Mr Ajay Kelkar, Head-Marketing, HDFC Bank, said, "Pune would also see six ... More

Karnataka Bank bid to draw more customers
THE Chairman and Chief Executive Officer of Karnataka Bank Ltd, Mr Ananthakrishna, has said that the bank has to go to the doorsteps of customers for business. However, selection of customers should be done judiciously. Addressing the regional ... More

PUBLIC SECTOR BANKS

UCO Bank 2nd public issue likely in H2
UCO Bank is mulling second round of public issue of equities sometime in the second half of the current fiscal. "The exact size and timing of the issue will be finalised after we've restructured our capital," said Mr V. Sridar, CMD of UCO ... More

FOREIGN BANKS

ABN-Amro goes to villages via micro-financing
ABN-Amro Bank has managed to tap rural potential despite its limited presence in branch network, according to Mr Romesh Sobti, Country Representative. Mr Sobti was in Tirupur in connection with the inauguration of its first branch in this ... More

GOVT BONDS

Floating rate bond coupon at 5.66 pc
THE Reserve Bank of India fixed the rate of interest on the Floating Rate Bond, 2016 (FRB, 2016) at 5.66 per cent. The period of the bond is from May 7, 2005 to May 6, 2006. The rate of interest on the FRB, 2016 was set at a mark-up over ... More

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