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Wednesday, July 06, 2005
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MONEY & BANKING

FOREX


Rupee loss widens; gilts range-bound
MUMBAI: The rupee continued with its losses for the second day in a row, as the dollar gained against all major currencies, said dealers. However, the fall of the rupee was offset by dollar inflows. The rupee opened at 43.5550/56, ... More

STOCKS


J&K Bank counting on better results
THE Jammu & Kashmir Bank stock is on an upward move in the last one week on expectation of good first quarter results, brokers and analysts said. In the last few months, the stock price of the bank had fallen following decline in net profit in .. More

GENERAL INSURANCE


United India cover for SBH clients
STATE Bank of Hyderabad (SBH) has tied up with United India Insurance Company Ltd to launch `SBH Arogya Suraksha,' a special health cover. According to a press release here on Tuesday, the scheme is specifically designed for the account ... More

PRIVATE BANKS


Yes Bank, SIDBI tie up to offer loans to SMEs
SMALL Industries Development Bank of India and Yes Bank announced a tie-up today to provide credit and other financial products to the small and medium enterprises sector, under a new co-brand called Yes SIDBI. The banks are looking at a ... More

PUBLIC SECTOR BANKS


IOB thrust on education loans
INDIAN Overseas Bank will focus on `education loans' for growing its retail portfolio, the bank's Chairman and Managing Director, Mr T.S. Narayanasami, has said. The bank's education loans grew from Rs 239 crore against 19,462 accounts in ... More

GOVT BONDS


Bonds: Days of high yields over
WITH the Federal Open Market Committee (FOMC), which sets US interest rates, voting for yet another raise at its meeting last week, Fed Funds have moved up to 3.25 per cent from one per cent a year back. What is more, there has been no ... More

NON-PERFORMING ASSETS


APSFC brings down borrowing costs and NPAs
THE Andhra Pradesh State Financial Corporation (APSFC) has successfully brought down its average cost of borrowings and net non-performing assets (NPAs) during the fiscal ended March 2005, according to its Chairman, Mr M. ... More

Dena Bank aims to trim NPAs to 2 pc by year-end
DENA Bank has set a target of lowering its net performing assets (NPA) to 2 per cent by the end of this financial year from the current level of 4.90 per cent. Mr M.V. Nair, Chairman, Dena Bank, said that the NPA level had fallen to 5.23 per ... More

CREDIT MARKET


United Bank to scale up export credit exposure
UNITED Bank of India proposes to tie up with Exim Bank to provide funds to customers engaged in foreign trade. An agreement between the two parties, which will jointly offer term loans and working capital to clients, is expected to be ... More

FIXED DEPOSITS


Banks find India Post a tough rival in deposit mop-up
The rates on deposits offered by SBI and other banks are at least 0.75 percentage point to one percentage point lower than those offered by India Post. More

PUBLIC OFFER


Syndicate Bank fixes offer price band at Rs 46-50
SYNDICATE Bank has announced that the price band for its follow-on public issue will be between Rs 46 and Rs 50, according to a release from the bank. Syndicate Bank will offer five crore equity shares of Rs 10 each for cash through a 100 per ... More

ECONOMIC OFFENCES


Logica CMG tool for IndusInd
BANGALORE: Logica CMG is to implement NetEconomy's ERASE compliance manager, an anti-money laundering (AML) solution, at IndusInd Bank in Mumbai. The solution enables the bank to monitor customer profiles and `suspicious' financial ... More


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Looking back
Jun. 26-Jul. 2
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Current account surplus in Q4 — Trade deficit for the year at record $38 b

Govt working on special credit plan for SMEs


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