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RBI
to raise Rs.2,500 crore under MSS
Mumbai: The Reserve Bank of India proposes to raise
Rs2,500 crore through the auction of 91-day and 182-day
Treasury bills under the Market Stabilisation Scheme,
a press release from the bank has said.
Of
this amount, Rs1,500 crore would be raised through the
auction of 91-day T-bills, while Rs1,000 crore would be
through the 182-day T-bills auction.
The
RBI also proposes to raise Rs1,000 crore through regular
auction. While Rs500 crore would be raised through an
auction of 91-day T-bills, Rs500 crore will be raised
through an auction of 182-day T-bills.
The
auction will be conducted using `Multiple Price Auction'
method.
Tenders
should be submitted on November 2. Successful bidders
will have to make payment on November 4.
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Banking
and Finance cos. results: PNB, Central Bank of India
PNB
Q2 net rises to Rs.422 crore
The Punjab National Bank (PNB) has reported net profits
of Rs422.04 crore for the second quarter ended September
30, 2005, a 2.3-per cent rise over the net profit of Rs412.55
crore registered during the year-ago period.
Net
profit for the first half of the year was Rs780.20 crore
compared with Rs735.22 crore in the same period last year,
marking a year-on-year growth of 6.1 per cent.
The
operating profit for the half-year ended September 2005
stood at Rs1,328.14 crore. Total provisions for six months
ended September 2005 amounted to Rs548 crore (Rs728 crore).
The bank has also announced that it would pay an interim
dividend of 30 per cent.
Total
business for the bank stood at Rs1,73,282 crore at end-September
2005 as compared with Rs1,46,459 crore during the same
period last year, representing a growth of 18.3 per cent.
The
bank's deposits on end-September rose 15.7 per cent to
Rs1,09,414 crore compared with Rs94,589 crore in September
2004. Th ebank said that low-cost deposits continued to
be the thrust area and constituted 45.9 per cent of total
deposits.
Advances
stood at Rs63,868 crore compared with Rs51,871 crore in
the previous year.
The
capital adequacy ratio at the end of September 2005 stood
at 14.20 per cent (12.58 per cent). Gross NPAs declined
to Rs3,359 crore (Rs4,155 crore) while net NPAs increased
to Rs201 crore (Rs149 crore).
Central
Bank of India reports lower HI net
The Central Bank of India has reported a fall in net profit
at Rs107.77 crore for the six-month period ended September
30, 2005, from Rs331.06 crore last year.
The
bank suffered a hit of Rs319.04 crore after making provision
for depreciation on investments and on transfer of securities
from `allowed-for-sale' category to `held-to-maturity'
category.
Total
income fell to Rs,863.46 crore (Rs3,190.18 crore) while
other income decreased to Rs226.28 crore (Rs625.72 crore).
Net
interest income increased to Rs1,167.54 crore (Rs1,148.39
crore). Total expenditure decreased to Rs2,316.80 crore
(Rs2,333.81 crore).
Capital
adequacy ratio was at 12.13 per cent (13.2 per cent).
The ratio of net non-performing assets fell to 2.79 per
cent (4.41 per cent).
Total
deposits increased to Rs65,493 crore (Rs57,063 crore)
and total advances increased to Rs30,966 crore (Rs26,300
crore).
Priority
lending increased by 32.36 per cent to Rs10,844 crore
(Rs 14,353 crore). Investments increased by 7 per cent
to Rs33,850 crore (Rs31,634 crore).
The
bank has also proposed to treat its entire investments
as stock in trade with effect from April 1, 2004. This
will enable the bank to get tax exemption on the investments,
said a senior official from the bank.
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