The Hindu Business Line : Friday, October 17, 2008

MONEY & BANKING

SHORT TERM INSTRUMENTS: Sensex dips 227, trims early losses on fall in inflation
Mumbai, Oct. 16 The measures announced by the Government and the financial markets regulators to boost investor confidence had no positive impact on Indian equities on ...

CRR & BANK RATES: Net interest margins of banks to rise in Q3
Impact of CRR reduction, farm loan compensation. Bangalore, Oct. 16 The net interest margins (NIM) of banks are likely to jump sharply during the third quarter of this financial year after the 250 basis points reduction in the Cash Reserve ...

GENERAL INSURANCE: A case for higher deposit insurance
The world financial market is facing one of the worst crises since the Great Depression of the 1930s. The $700-billion bailout, which some analysts are calling “cash-for-trash”, has barely calmed the international financial market, ...

FINANCIAL PERFORMANCE: IndusInd Bank net rises 51%
Growth in core fee income, net interest income help. Mumbai, Oct. 16 IndusInd Bank’s net profit grew by 51 per cent to Rs 33.66 crore in the second quarter of 2008-09, aided by an increase in net interest income and growth in core ...

SHORT TERM INSTRUMENTS: Call rates ease
Call rates eased as a slew of measures by the Reserve Bank of India, along with the release of the first instalment of farm loan waiver, injected close to Rs 1,45,000 crore into the system. The rates ended substantially lower at 6.75-7 per ...

CREDIT RATING: Karnataka Bank in pact with ICRA
Karnataka Bank Ltd has entered into a memorandum of understanding with the rating agency ICRA Ltd under which ICRA will assign rating to the bank’s loans and other exposures under the Reserve Bank of India’s new capital ...

PUBLIC SECTOR BANKS: Andhra Bank unveils ‘Bima Utsav II’
Andhra Bank has launched ‘Bima Utsav II’ to generate fee-based income for the bank. Speaking after formally launching the programme, Mr Anil Girotra, Executive Director, Andhra Bank, said Bima Utsav I, which was conducted last year, ...

PUBLIC SECTOR BANKS: Corporation Bank’s cash back offer
Corporation Bank has launched cash back scheme this festive season for a period of 100 days on the usage of the bank’s debit, credit and campus cards. A bank release said here on Thursday that the campaign offers cash-back of up to 5 per ...

FIXED DEPOSITS: Term deposit rates revised
Corporation Bank has revised its interest rate for term deposits with effect from October 15. A bank release said that for the maturity period of 12-15 months, it will offer an interest rate of 10.5 per cent per annum. Senior citizens will get ...

GENERAL INSURANCE: Optima online service to insure two-wheelers
Retail insurance site www.click2insure.in is in the process of introducing two-wheeler insurance cover online in the national ...

FINANCIAL PERFORMANCE: Higher interest income lifts SBH net 30%
Hyderabad, Oct. 16 State Bank of Hyderabad (SBH) has reported a 30 per cent increase in net profit at Rs 185 crore for the second quarter ended September 30, 2008 compared with Rs 142 crore in the corresponding quarter of previous ...

CRR & BANK RATES: ‘Liquidity concerns addressed’
Mumbai/ Mangalore, Oct. 16 The cut in CRR is a welcome move and would inject an additional of Rs 40,000 crore into the system, says. Mr M D Mallya, Chairman and Managing Director, Bank ...

TRADE & LABOUR UNIONS: RBI staff to go on protest leave on October 21
Mumbai, Oct. 16 The Reserve Bank of India officers and employees have decided to go on a day’s casual leave on October 21. This could create a problem for the payments system (RTGS). But the RBI usually ensures that this does ...

PEOPLE: Five GMs elevated as EDs in PSBs
New Delhi, Oct. 16 The Centre has elevated five General Managers from various public sector banks (PSBs) to the posts of whole time directors in certain banks. They have been designated as executive ...

FIXED DEPOSITS: PNB hikes deposit rates
New Delhi: Punjab National Bank has hiked interest rates on term deposits by 25-50 basis points in various time slabs. With this revision, peak rate would be 10.5 per cent per annum, which is for the slab of “1 year to ...

PRIVATE BANKS: HDFC Bank: CASA ratio declines sharply
Employee cost pushes up operating expenses. BL Research Bureau HDFC Bank posted a Rs 528 crore net profit in September quarter, a jump of 44 per cent over the same quarter last year. Though the two quarters are not strictly comparable as the ...