MONEY & BANKING
DIVIDEND ANNOUNCEMENT
BoB hands over dividend cheque
Bank of Baroda has paid dividend of Rs 98 crore to the Government. Dr Anil K. Khandelwal, CMD, Bank of Baroda, handed over the dividend cheque to Mr. P Chidambaram, Finance Minister, at New Delhi. ...
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SBI pays Rs 440 cr dividend to RBI
State Bank of India paid a dividend of Rs 440.07 crore to Reserve Bank of India for the shares held by the latter. Mr O.P. Bhatt, Chairman, SBI, handed over the cheque to Dr Y.V. Reddy, Governor, RBI, on July 17, a press release ...
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BoI pays dividend to Central Govt
Bank of India (BoI) has paid a dividend of Rs 101.57 crore to the Central Government for the financial year 2005-06. The dividend cheque was handed over by the BoI Chairman and Managing Director, Mr M. Balachandran, to the Union ...
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OBC pays Rs 57.60-cr dividend
Oriental Bank of Commerce (OBC) has paid a dividend of Rs 57.60 crore, for the financial year 2005-06, to the Central Government. The dividend cheque was handed over by the Chairman and Managing Director of OBC, Mr K.N. ...
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FOREX
`Rupee has potential to do a euro'
Once capital account convertibility is implemented, given our strong fundamentals, the rupee can compete with other free currencies to attract investment, both in portfolio and FDI segments.
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Rupee strengthens against dollar
The rupee strengthened against the dollar on account of selling by some nationalised banks. The domestic currency opened at Rs 46.75 and touched an intra-day low of Rs 46.82. It then recovered to finally close at Rs 46.70/71. On Monday, the ...
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INFORMATION TECHNOLOGY
`Technology can take banks to rural areas'
Contrary to the popular perception (or misconception) that technology leads to elite banking, useful only for high net worth individuals and corporates, it can be effectively used in a country like India to take banking services to the villages ...
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Core banking at Vijaya Bank branch
Vijaya Bank has implemented core banking solution (CBS) at its Dharmasthala branch. A bank release said here on Tuesday that Dr Veerendra Heggade, Dharmadhikari of Sri Kshetra Dharmasthala, inaugurated the CBS facility at ...
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FINANCIAL PERFORMANCE
HDFC Q1 net up 20 pc at Rs 297 cr
Registers rise in income, disbursements; to take view on lending rates by month-end
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LIFE INSURANCE
Metlife unveils new versions of ULIPs
Metlife India has launched two new versions of unit-linked insurance plans in compliance with the new guidelines of the Insurance Regulatory and Development Authority. The insurance plans branded as Met Smart Plus and Met Smart Premier would ...
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PUBLIC SECTOR BANKS
`Indian Bank seeking to sustain growth'
Indian Bank, which could achieve total business mix of Rs 63,290 crore during 2005-06, a growth of 18.99 per cent, is seeking to sustain it during the current financial year too, according to the Chairman and Managing Director, Dr K.C. ...
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UCO Bank mid-corporate branches
The Hyderabad region of UCO Bank is planning to open two mid-corporate branches, one at M.G. Road in Secunderabad and the other at Banjara Hills in Hyderabad. These branches are aimed at catering to the needs of high-class ...
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BSE's move to corporatise not to affect BoI Shareholding
Strategic investment in CDSL to continue
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INTEREST RATES
Will Bernanke testimony clear the air?
The fact is that there is no clinching evidence of a slowing economy or inflation spinning out of control.
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GOVT BONDS
Bond market weak
The bond market was weak as participants stayed on the sidelines ahead of the Rs 5,000-crore auction of government securities slated for the second half of July and the monetary policy announcement next week. There was a slight ...
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CORPORATE BONDS
BoI to raise Rs 600 cr thru tier II capital
Bank of India has proposed to raise about Rs 600 crore by way of tier II capital, for which board approval has been received. The bank will raise the money through issue of unsecured, redeemable subordinated bonds, Mr M. Balachandran, CMD, said ...
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Vijaya Bank to raise Rs 250 cr
Vijaya Bank is raising Rs 250 crore through a 10-year bond issue. These bonds, rated AA plus, are priced at 9.25 per cent and would comprise part of the banks Tier-II capital. The funds are being raised to augment the capital of ...
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CREDIT MARKET
PNB to go slow on loans for real estate
In a departure from its aggressive stance of last year, Punjab National Bank (PNB) has decided to go slow on providing credit for real estate development during the current fiscal. It will, however, continue to encourage individual housing ...
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Microfinance meet focuses on organising credit flow to SHGs
A day-long national seminar on microfinance discussed the role of banks and financial institutions as business facilitators and business correspondents. Organised by the International Network of Alternative financial institutions (INAFI), the ...
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UCO Bank unveils retail sales force
UCO Bank on Tuesday announced the launch of its `small enterprises and retail sales force' in the national capital region (NCR) to popularise and attract a large customer base for its retail loan and deposit products. Speaking to ...
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SHORT TERM INSTRUMENTS
Call rates remain flat
Call rates remained unchanged between 5.75 and 5.85 per cent. In the first one-day reverse repo auction under LAF, Reserve Bank of India received and accepted 25 bids amounting to Rs 29,810 crore and in the second one-day reverse ...
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EVENTS
`Banks yet to realise return on investments made in IT'
Banks are yet to fully realise their return on investments (RoI) made in information technology, both in hardware and software. Speaking at `Banking Conclave' organised by TVS Electronics, the Corporation Bank Chairman and Managing ...
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CO-OPERATIVES
I-T dept firm on bringing co-op banks under scanner
Opposition by the co-operative banks to bringing them under the income-tax scanner is not going to deter us from looking into their accounts. An audit would be ordered to check, Mr S.K. Sharma, Director-General (Investigations), Income-Tax, Pune ...
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