The Hindu Business Line : Saturday, May 06, 2006

Forex reserves surge by $3.41 billion
The country's forex reserves have surged by $3.41 billion for the week ended April 28, the largest inflow in a single week in the recent past. According to currency traders, the spurt in the reserves was mainly on account of the Reserve Bank of ... More

FINANCIAL PERFORMANCE

Vijaya Bank posts Rs 35-cr net loss due to provisioning
To raise Rs 250 cr addl capital to beef up CRAR; eyes Rs 60,000-cr business More

CREDIT RATING

Deficit reduction on track: S&P
The recent outlook revision - to positive - reflects India's improved prospects of a stabilising debt burden based on greater efforts across all levels of Government to consolidate fiscal positions, according to an S&P release. It also ... More

DEBT MARKET

Develop Asian bond market: ADB
To address private savings issue More

PUBLIC SECTOR BANKS

UBI mulls converting equity to pref shares
Set to pay dividend to Govt after 14 years More

BoI plans to raise $ 250 m overseas
Bank of India (BoI) is preparing decks for another round of overseas fund-raising exercise for a minimum amount of $ 250-million. It has applied for RBI approval for the issue and expects anod shortly so as to tap the global market at the ... More

INTEREST RATES

ICICI Bank home loans costlier
ICICI Bank has announced an increase in home loan interest rates by 0.5 percentage point. The increase in the floating and fixed interest rates for home loans will be effective from May 8. This move will increase the interest rates on ... More

SBH hikes benchmark PLR
State Bank of Hyderabad (SBH) has increased the benchmark prime lending rate on advances from the present 11 per cent to 11.5 per cent with effect from May 1, 2006, according to a bank press release. ... More

Canara Bank hikes deposit rates
Canara Bank has revised upwards the interest rates applicable for FCNR (B), RFC and NRE term deposits across various maturities with effect from May 1. The new dollar rates in percentage figures (existing rates within ... More

Correction

CORPORATE BONDS

IRFC to raise Rs 500 cr thru bonds
Indian Railway Finance Corporation (IRFC), the finance mobilising arm of Indian Railways, is in the process of raising Rs 500 crore by issuing bonds in the domestic market. "We decided to enter the market as the rates are good now as compared ... More

MERGERS & ACQUISITIONS

Citi confirms HDFC stake buy
Citigroup has confirmed that it has signed a definitive agreement to purchase Standard Life's 9.3 per cent equity stake in HDFC Ltd.The purchase will raise Citigroup's equity interest in HDFC to 12.3 per cent, said a release from ... More

ALLIANCES & JOINT VENTURES

JBIC, ICICI Bank in pact
The Japan Bank for International Cooperation (JBIC) on Friday signed a cooperation agreement with ICICI Bank for promoting clean development mechanism (CDM)-related projects in India. The agreement would promote CDM-related projects through ... More

EVENTS

`Focus on retail deposits, lending'
Mr Anantakrishna, Chairman and Chief Executive Officer of Karnataka Bank Ltd, has urged the regional heads of the bank to focus on stable retail deposits and retail lending to ensure sustained growth. A bank release here said ... More

SOCIETY & DEVELOPMENT

SBT donates ambulance
State Bank of Travancore (SBT) has donated an ambulance to the Hindu Mahila Mandiram, a social service undertaking here. Mr Pradeep Shankar, Chief General Manager, SBT, handed over the key to Ms Sreekumari Amma, Secretary of the ... More

CO-OPERATIVES

KSCB unveils loan schemes
Aid for rural tourism, farmland and business ventures More

Cross Currency Rates