Financial Daily
from THE HINDU group of publications

Tuesday, October 31, 2000




Banking & Finance

Banking and Finance
SBI succession: Residual tenure the key factor
THE curtains have finally come down on the State Bank of India (SBI) succession issue with the appointment of Mr Janki Ballabh as the next Chairman of SBI. The announcement came

South Indian Bank to deploy new software
HAVING strengthened its balance sheet and shored up its bottom line, South Indian Bank is accelerating its computerisation and networking drive.

`Call rates may hold steady at 8-8.5 pc'
THE call money rates are expected to hold stable around 8.00-8.50 per cent, according to the weekly update on the fixed income market from ICICI Securities (I-Sec). It said the liquidity cushion of outstanding repos and Tier-I refinance would absorb any mid-size auction, without having any significant bearing on overnight rates.

Second thoughts on expanding the field?
THE RBI could be setting up an Advisory Group to screen bank applications received from corporates. The Advisory Group would be manned by independent professionals who would examine the minute in the corporate applications.

Securities close firmer, call rates softer
SECURITY prices appreciated by around 10 paise across actively traded papers on Monday despite rupee volatility.

UFBU calls nationwide strike on Nov 15
THE United Forum of Bank Unions (UFBU), the body of nine unions of bank employees and officers, has given a call for a nationwide bank strike on November 15 to protest against voluntary retirement in banks, the Government decision to reduce its equity ho lding in public sector banks from the present not less than 51 per cent to 33 per cent and rollback in the retirement age from 60 to 58 years.

Financial Performance
Karur Vysya net up 34 pc
CHENNAI: Karur Vysya Bank has reported a net profit of Rs 34.24 crore for the half-year ended September 30, 2000, compared to a net profit of Rs 25.52 crore during the corresponding period last year, an over 34 per cent increase.

PNB net rises to Rs 290.18 cr in H1
NEW DELHI: Punjab National Bank (PNB) has recorded a net profit of Rs 290.18 crore for the half-year ended September 30, 2000, compared to Rs 262.52 crore in the corresponding period during the last year, representing a growth of 10.5 per cent.

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