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Wednesday, July 26, 2006
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MONEY & BANKING

FARM CREDIT
IOB signs MoU with CRI Pumps
Indian Overseas Bank (IOB) has signed a memorandum of understanding with the Coimbatore-based CRI Pumps Ltd for financing pump sets. Under the scheme, farmers will be allowed to buy CRI pump sets from IOB at a discount of 12 per ... More

INSIGHT
Will the interest rate hike work?
Generally, higher interest rates have a cooling effect on an economy that has overheated. However, the Indian economy already appears to be cooling from its impressive growth. Thus the interest rate hike could further depress industrial growth, and t hat is clearly what the RBI should not let happen. More

Dr Reddy's balancing act
RBI REVIEW OF MONETARY POLICY More

RBI's pre-emptive approach
The central bank, which was hitherto reacting to events, is now following the practice of the West in predicting the course of events on the basis of the available indicators and taking measures to forestall them to the extent possible. More

FOREX
Rupee ends higher
The rupee closed higher against the US dollar on Tuesday after the Reserve Bank of India increased short-term rates by 25 basis points in the quarterly review of the monetary policy. However, underlying sentiment was weak because ... More

CREDIT POLICY
Will the hikes hurt my wallet?
Reverse repo rate is the rate of interest that the RBI pays other banks from which it borrows money. Repo rate is the rate of interest that the RBI receives from the banks it has lent to. The reverse repo rate tends to set the floor for the ... More

Rate rise: Easy call for the RBI
It was widely expected. The increase in the repo and reverse repo rates to 6 per cent and 7 per cent respectively in the RBI's first quarter review of monetary policy came as no surprise. Central banks, the world over, are in a tightening mood if ... More

Mixed reaction to RBI move
Reacting to the 25 basis point increase by the RBI in repo and reverse-repo rates each to seven per cent and six per cent respectively in the quarterly review of the monetary policy, industry chamber FICCI has called the decision `inappropriate.' ... More

`Non-farm sector likely to feel rate hike impact'
Borrowing costs to go up, particularly for retail sector More

Mixed reactions from industry
More

`RBI initiatives will help curb inflation'
Credit squeeze due to rate hikes unlikely, says Chidambaram More

Bonds end unchanged as market factors in rate hike
The hike in key short-term interest rates by RBI did not create a stir in bond prices. Although prices fell by around 25 paise during the day, they were almost unchanged at the end of the day from Monday's closing prices. The total traded ... More

RBI cautions on high credit growth
Deposit mobilisation crucial: Reddy More

RBI move to check inflation
The Reserve Bank of India's move to raise short-term rates by 25 basis is being seen by banks as a pre-emptive measure to control inflation. Though it is unlikely to up deposits, lending rates may inch up, say bankers. More

FINANCIAL PERFORMANCE
YES Bank net rises 50 pc
YES Bank registered a growth of 50 per cent in its net profit during the first quarter, ended June 30, due to a rise in income. The bank's net profit increased to Rs 16.88 crore as compared to Rs 11.25 crore, during the corresponding quarter ... More

Cholamandalam DBS Fin Q1 net down
Cholamandalam DBS Finance Ltd has reported a net profit of Rs 3.53 crore on income from operations of Rs 60.60 crore for the first quarter ended June 30, 2006. During the corresponding period the previous year, the company reported a net profit ... More

BoR posts 284% rise in net profit
Bank of Rajasthan (BoR) has reported 284 per cent growth in net profit, for the quarter ended June 30 due to a rise in income. Net profit rose to Rs 20.04 crore compared to Rs 5.21 crore in the corresponding quarter of the previous year. ... More

SIB Q1 net at Rs 15 cr
South Indian Bank (SIB) has posted a net profit of Rs 15.05 crore during the first quarter of the current fiscal as against Rs 5.31 crore in the corresponding period the previous year. The total business of the bank also increased to Rs ... More

LIFE INSURANCE
Principal prefers separate co for pensions foray
To enter market with existing JV partners More

CREDIT RATING
AAA/stable rating to NIC
Crisil has assigned an AAA/stable rating to National Insurance Co (NIC). The financial strength rating reflects its robust capitalisation levels, strong liquidity position and comfortable market presence, an NIC press release has ... More

PUBLIC SECTOR BANKS
PSBs hiring more from B-schools
SBI plans direct hiring from graduate colleges More

Corporation Bank schemes for SMEs
Corporation Bank on Monday launched three schemes for SMEs - Corp SME Gold Card Scheme, Corp SME Credit Card Receivable Funding Scheme and Corp SME Receivable Funding Scheme'. A bank release said that Mr Vinod Rai, Special ... More

Bankers and their changing lexicon
Before you dub these as glib aphorisms used by hardcore salesmen of FMCG products, think again. These are what PSU bank chairmen are telling you these days, a makeover from their usual `delivery channels', `no-frill accounts' and the ubiquitous ... More

INTEREST RATES
RBI hikes key interest rates; bank loans may turn costlier
Repo, reverse repo raised; bank rate, cash reserve ratio unchanged More

CREDIT MARKET
Nabard to rate over 30 MFIs
Duration of scheme extended; more rating agencies roped in More

SHORT TERM INSTRUMENTS
Call rates in range
Call rates were between 6.00 and 6.10 per cent. In the first three-day reverse repo auction under LAF, Reserve Bank of India received and accepted 12 bids amounting to Rs 6,845 crore and in the second three-day reverse repo ... More

TRADE & LABOUR UNIONS
`Publish Khalid panel findings'
The State Committee of the All India Bank Officers Federation (AIBOC) has demanded that the Justice Khalid Commission report on an engineering student committing suicide allegedly for want of education loans be made public. Bank ... More

ALLIANCES & JOINT VENTURES
SIB to vend Reliance MF products
South Indian Bank has signed an MoU for the distribution of all the products of Reliance Mutual Fund. Under the agreement, South Indian Bank will distribute the entire range of Reliance Mutual Fund schemes, initially through ... More

PNB renews tech pact with Nepal bank
Punjab National Bank (PNB) on Tuesday said it has renewed and extended its technical services agreement with Nepal-based Everest Bank Ltd (EBL) for another period of five years. The agreement would now be valid till 2011, a PNB release said. ... More

PEOPLE
New CEO for Arcil
Mr S. Khasnobis has been appointed as the Managing Director and CEO of Asset Reconstruction Company (India) Ltd (Arcil). He has an experience of about 25 years in banking particularly in project finance, structured finance and ... More






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Top Stories
PSBs hiring more from B-schools

Will the hikes hurt my wallet?

Cairn Energy to float IPO by March

`Domestic IT/ITES revenues up 26 pc'

Commodity market likely to remain volatile

Will the interest rate hike work?

Dr Reddy's balancing act

Business Confidence Index down 8 pc, says NCAER

Natural gas catches investors' fancy

No revival of Doha round talks in sight: Kamal Nath

Rubber continues to fall; may slip to Rs 85

Govt needs to come up with precise crop estimates

Looking back
Jul. 16-Jul. 22
States headed for fiscal deterioration

Indian Bank chief sees drop in loan growth rate

Are KYC norms crossing the limits?

Rupee touches 3-year low

`Rupee has potential to do a euro'

Private non-life cos ceding to global reinsurers

Canara Bank Q1 net up marginally at Rs 191 cr

Get rid of mental block against consolidation: FM


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