The Hindu Business Line : Thursday, March 31, 2005

Rupee recovers; bond prices up
MUMBAI: The rupee recovered on Wednesday to close at 43.79/80 on dollar selling as against Tuesday's close at 43.81/82. The currency, which opened at 43.82/83, hit an intra-day low of 43.8350. The forward premia market slipped further, ... More

HOUSING FINANCE

IDBI Homefinance hikes PLR by 25 bps
IDBI Homefinance Ltd, a wholly owned subsidiary of IDBI Ltd, has increased its PLR by 25 basis point, with effect from March 31. The PLR is the benchmark for pricing of its variable interest rate loans. According to a release, the revised ... More

RBI & OTHER CENTRAL BANKS

WMA of States hiked by 9.77 pc
THE Reserve Bank of India has revised the aggregate normal Ways and Means Advances of State Governments upwards by 9.77 per cent, effective April 1. The WMA of the State Governments will increase by Rs 795 crore to Rs 8,935 core, against the ... More

PUBLIC SECTOR BANKS

Return of capital — PNB not to bear additional tax on reduction of share premium account
IN what would set a precedent for similar return of capital by other public sector banks, the Government has assured the Punjab National Bank (PNB) that there would be no additional tax burden on the bank on account of reduction from the share ... More

Vijaya Bank opens branches
HYDERABAD: Vijaya Bank has announced the inauguration of its 910th branch at Bakaram here. The former Chairman of Insurance Regulatory and Development Authority, Mr N. Rangachari, inaugurated the branch, which would offer all loan and ... More

Andhra Bank to extend biz hours

TRENDS

Banks face year-end valuation blues
FACED with a steep fall in bond prices banks are faced with the year-end valuation blues and some of them face the prospect of large contraction in bottom lines. The ten-year Yield to Maturity (YTM) was expected to be fixed at 6.65-6.67 per ... More

Asset quality of banks to improve: Fitch
The proposed Basel guidelines will result in capital raising remaining a priority and may trigger some sort of consolidation in the industry. More

NEW PRODUCTS & SERVICES

HDFC Bank, Visa launch money transfer service
HDFC Bank and Visa International have launched a domestic money transfer service that will enable HDFC Bank account holders to transfer money from their accounts to a Visa debit or credit card, issued by any bank. This is a safe and fast ... More

Comments & Letters to the Editor to: bleditor@thehindu.co.in
Subscribe to: Business Line

Pick a Winner Stock Market Contest

Vivek Oberoi returns `inappropriate' award

Coal India-NLC combine plans large thermal power projects

FIIs turn heavy net sellers

Vanilla dips as global demand fails to pick up

Arcelor forges ahead on new steel capacity in India — Move follows output cut in Europe by 1 mt

In Focus

BHEL Disinvestment

The Yuan Revaluation

Dabhol power regenerated

Tracking the rains