The Hindu Business Line : Tuesday, May 31, 2005

Rich China's poor yuan
China's rising external reserves should have caused the yuan to appreciate considerably. But the trend shows otherwise. There is a reasonably robust constituency in the US and East Asian countries for the continuation of the prevailing exchange rate regime, says Bhanoji Rao. More

FOREX

Rupee weakens; bonds steady
MUMBAI: The rupee weakened against the dollar on Monday as corporates, mainly oil companies, bought dollars. The rupee was also dragged down because euro lost in value against the dollar in the international markets. The domestic ... More

INFORMATION TECHNOLOGY

UCO Bank close to deal on core banking solution
The bank's Chairman and Managing Director, Mr V. Sridhar, told Business Line: "This will be our major initiative this year. We are close to finalising the deal. The details will be known in the first week of July". Speaking on the ... More

SBBJ to scale up Net banking
STATE Bank of Bikaner & Jaipur, which has launched inquiry level Internet banking, proposes to introduce shortly transaction-level Internet banking. Giving this information at the bank's annual general meeting in Jaipur, the Chairman, Mr A.K. . More

FINANCIAL PERFORMANCE

Federal Bank Q4 net up 30%
THE net profit of Federal Bank grew 30 per cent to Rs 29.86 crore during the fourth quarter of 2004-05 from Rs 23 crore a year ago. However, the net profit for 2004-05 fell by 34 per cent to Rs 90.09 crore (Rs 136 crore). The bank has scaled ... More

CONSUMER FINANCE

Escorts, SBI may tie up to offer loans to dealers
NEW DELHI: Escorts Ltd-Agri Machinery Group has announced that it is likely to enter into a strategic tie-up with State Bank of India to provide working capital at attractive interest rates to its dealers in Punjab, Haryana, Himachal ... More

LIFE INSURANCE

It's value investment, says Gujarat Ambuja
INDUSTRY watchers were rather surprised at the Gujarat Ambuja Cements' move to acquire 14.87 per cent stake in ING Vysya Life Insurance Company for Rs 60.9 crore. Is the fourth largest cement manufacturer in the country interested in entering ... More

GENERAL INSURANCE

Insurers may hike premiums on corporate medical covers
NON-LIFE insurance companies in the country are preparing to hike medical insurance premia to cut losses on the portfolio. Sources said that the claims ratios in the medical insurance portfolios are currently about 150 per cent. This implied ... More

PUBLIC SECTOR BANKS

Karnataka Bank opens ATM at Besant Nagar in Chennai
MANGALORE: Karnataka Bank Ltd opened its 37th ATM at Beasant Nagar in Chennai recently. A press release said here on Monday that Karnataka Bank is planning to increase the number of ATMs to 100 by December. Speaking on the occasion, ... More

CREDIT MARKET

Andhra Bank to lend more to women
ANDHRA Bank has chalked out a programme of empowering women by increasing lending, especially in the backdrop of rising individual and household incomes and consumption levels. To meet the needs of fast changing lifestyles with increased ... More

CREDIT CARDS & DEBIT CARDS

Karnataka: SBI ties up with BPCL
BANGALORE: State Bank of India and 8 associate banks have entered into an agreement with Bharat Petroleum Corporation Ltd (BPCL) for enhancing card usage at fuel stations. The facility was rolled out by SBI's Chief General Manger Mr R. ... More

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Pick a Winner Stock Market Contest

Radico, Mason, BDA in fray for part of SWC liquor biz — ICICI Bank talking to suitors

GEAC move to amend rules for approving Bt cotton — Rift between Monsanto sub-licencees, others widens

Telecom operators upbeat on zero rental schemes

Insurers may hike premiums on corporate medical covers

Railways may need to import 18,000 wheels to meet demand

Tata Power Q4 net up at Rs 170.55 cr, to pay Rs 7.5

In Focus

BHEL Disinvestment

China's revaluation

Dabhol power regenerated