MONEY & BANKING
Taxing dividends of agricultural companies
Complications arise when a company engaged in agricultural operations declares dividends
Current account deficit doubles
Average price of crude rises to $66.8
Rupee ends flat
The rupee ruled flat on Friday. The rupee opened at 45.93/94 and closed at the same level, a tad lower than Thursday's close of 45.92. The day's high was 45.93 and the low was 46. "The spot rupee is driven mainly by demand and ...
Forex reserves up $940 m
Forex reserves increased by $940 million to touch $166.482 billion for the week ended September 22, according to the Reserve Bank of India's Weekly Statistical Supplement. In the earlier week, reserves stood at $165.542 billion. The week saw ...
Satyam bags Punjab & Sind Bank deal
Satyam Computer Services Ltd has signed a 10-year Rs 135 crore ($30 million) contract with Punjab & Sind Bank to implement and maintain the Core Banking System (CBS) for the bank. With this arrangement, Satyam has been mandated to provide ...
`Political space needed for financial reforms'
RBI & OTHER CENTRAL BANKS
External debt jumps $6.9 b
External debt jumped by $6.9 billion at the end of June 2006 to touch $132.1 billion, compared with the quarter ended March 31. Among the components of the debt, External Commercial Borrowings (ECBs) recorded the largest increase at $5.4 ...
Oil prices not too low: RBI
The Deputy Governor of the Reserve Bank of India, Mr Rakesh Mohan, said on Friday that oil prices were not too low even at current levels and there were considerable lags before monetary policy changes had an impact. Talking to presspersons ...
DCB bets on IPO, draws up growth plan
Development Credit Bank (DCB), whose IPO to raise Rs 157-186 crore capital has opened, is pinning hopes on the offer for implementation of its revitalisation programme. "The IPO enables us to improve our capital adequacy ratio (CAR) to around ...
PUBLIC SECTOR BANKS
SBH business tops Rs 62,000-cr
Largest among State Bank associates
Every family has bank a/c in Palakkad
State Bank of Travancore achieved 100 per cent financial inclusion in Palakkad district of Kerala by opening 23,097 accounts in the 155 wards allotted to it. The bank, which has 28 branches in the district, organised massive ...
Bank of Maharashtra branch in Vizag
Bank of Maharashtra opened its third branch in Visakhapatnam at Gajuwaka on Friday. The bank has 30 branches in the State. Mr B.K Mahajan, the Deputy General Manager, south circle, opened the branch. He said the bank, which ...
Bond prices decline
Bond prices fell on Friday by around 10 paise on profit booking ahead of the half yearly closing on September 30. The total traded volume on the order-matching system was Rs 2,260. Dealers said the Finance Minister's statement ...
Food credit down Rs 133 crore
The net bank credit increased by Rs 14,889 crore for the fortnight ended September 15 to touch Rs 16,07,518 crore. Of this, food credit decreased by Rs 133 crore to touch Rs 36,396 crore. Non-food credit increased by Rs 15,022 ...
SHORT TERM INSTRUMENTS
Call rates jump to 7.4-7.6%
Call closed sharply higher at 7.40-7.60 per cent (6.40-6.50 per cent). There was pressure on liquidity as some banks were not lending in the market due to half yearly closing and an extended weekend. In the first four-day ...
Banks resume mop-up through bulk deposits
Target corporates with temporary cash surpluses
ALLIANCES & JOINT VENTURES
IndusInd ties up with Doha Bank
Replicating the tie-up with the Union National Bank in AbuDhabi, IndusInd Bank is set to service the customers in Qatar through its tie-up with Doha Bank. Talking to presspersons after the annual general meeting of the bank, Mr Bhaskar Ghose, ...
SBI mobile ATM in Ahmedabad
Reaching out to customers at their homes, literally, the State Bank of India rolled out a mobile Automatic Teller Machine (ATM) here on Thursday, becoming the only bank in Gujarat to offer a doorstep facility. Everyday, the ...
Bank alliances, a positive development
Consolidation to be a regular feature in competitive environment
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