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Rupee
weaker
Mumbai: The rupee closed at 46.09 against the dollar
on Monday, weaker by about 14 paise against Friday's close
of 45.95.
Forward Market: The six-month forward closing at
1.90 per cent (1.65 per cent) and the twelve-month closing
at 1.55 per cent (1.50 per cent). The 7.38 per cent 2015
paper closed at Rs 111.20. The yield for the ten-year
benchmark moved higher to 5.87 per cent from 5.83 per
cent.
Call Rates: Easy at 4.00-4.25 per cent.
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City
Union Bank online with RTGS
Coimbatore: The City Union Bank Ltd has joined
the real time gross settlement grid, with the system going
live on July 16.
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HDFC
Q1 net up 22 per cent
Mumbai: The Housing Development Finance Corporation
has reported a 21.9 per cent increase in net profit, year
on year, for the quarter ended June 30, 2004. The company
reported a net profit of Rs 204.62 crore for the quarter
against Rs 167.76 crore in the corresponding quarter the
previous year. Income from operations amounted to Rs 761.17
crore (Rs 725.88 crore). Interest charges decreased to
Rs 464.46 crore from Rs 478.91 crore. As on June 30, 2004,
the company's capital adequacy ratio stood at 14.7 per
cent of the risk-weighted assets (of which Tier I capital
was 13.2 per cent). The minimum requirement is 12 per
cent. At the AGM, shareholders approved enabling resolutions
that hiked the borrowing limit of HDFC to Rs 50,000 crore,
up from Rs 35,000 crore, and also to raise $500 million
through
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Prudential
Bank posts operating profit
Hyderabad: Prudential Bank, the Hyderabad-based
urban cooperative bank, has posted an operating profit
of Rs 11.1 crore and cash profit of Rs 15.5 crore for
the year under review. Stating that the recoveries for
the accounting year stood at Rs 130 crore compared with
Rs 168 crore in the previous fiscal, the bank said that
the percentage of net non-performing assets have come
down from 74.81 per cent to 40 per cent. While the operating
expenses have come down by Rs 2.23 crore, the bank has
maintained the required statutory liquidity ratio as well
as cash reserve ratio.
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