Rupee drops as corporates cover up
Mumbai: The rupee lost 13 paise in its value against the dollar closing at 44.2250/2400.
Forward Markets- The six months forward closed at - 0.32 per cent (-0.65 per cent) and the one-year forward closed at - 0.14 per cent (-0.32 per cent).

G-Secs- The Rs 5,000 crore 6.18 per cent 2005 market stabilisation bonds were oversubscribed twice.
Back to News Review index page    Currency converter

Exim Bank goes for ECBs to retire debts
Mumbai: Export-Import Bank of India has announced plans to raise Rs 7,000 crore, including foreign exchange up to Rs 3,800 crore. The bank said that it plans to tap the overseas market immediately to raise ECB of $300 million and the Reserve Bank of India has accorded approval.

The bank plans to redeem Rs 600 crore of loans with an interest rate of 10-12 per cent during this fiscal. Last year, it had redeemed Rs 700 crore.

The Exim Bank has ended the year with a net profit of Rs 229 crore against Rs 207 crore in the earlier year, registering a growth of 11 per cent. The bank would pay Rs 47 crore as dividend to the Government.
Back to News Review index page    Currency converter

PNB achieves total computerisation
New Delhi: The Punjab National Bank has achieved 100 per cent branch computerisation. It has computerised all its 4,026 branches including 536 in metros, 769 in urban, 788 semi-urban and 1933 in rural areas.
Back to News Review index page    Currency converter

China Banking goes for Finacle
Bangalore: Infosys Technologies has announced that it has signed up China Banking Corporation (China Bank) in the Philippines, to deploy its Internet banking solution Finacle.
According to a company press release Finacle is being delivered by Infosys in partnership with Total Information Management, a leading solution provider in the Philippines and authorised business partner of Infosys.
Back to News Review index page    Currency converter

Bharat Overseas announces dividend
Chennai: Bharat Overseas Bank has announced a profit after tax of Rs 35.08 crore for the financial year 2003-04, an increase of 23 per cent over the previous year. The bank has also announced a dividend of 18 per cent (shares with face value Rs 100) for the year.

The bank has said that it would focus in the current financial year on retail banking. While the total business volume (advances and deposits) in 2003-04 was Rs 3,900 crore, higher by 17 per cent, gross advances grew by 20 per cent to stand at Rs 1,428 crore.
The bank's net NPA for 2003-04 was 2.26 per cent (3.31 per cent).
Back to News Review index page    Currency converter