Indian Bank today reported near flat net profit growth during the fourth quarter of 2007-08 at Rs 241.67 crore compared with Rs 235.30 crore during the quarter ended March 31, 2007. During the period,

Indian Bank Q4 net flat at Rs 241.67 cr

Business Standard

The global financial turmoil has affected long-term credit ratings of two of Merrill Lynchs Indian arms as also four Indian companies with the Citigroup as a shareholder.


Global woes hit Citigroup, Merrill Indian arm ratings

Central Bank of India has posted a 14.8 per cent drop in its fourth quarter net profit due to sharp rise in interest costs and establishment expenses.

Central Bank Q4 net dips 14.8%

High mark-to-market losses following the sharp fall in stock market and bond prices hit Andhra Banks January-March net profit rise, K Ramakrishnan, chairman and managing director, said today.

Andhra Bank Q4 net dips 10.4% on high MTM loss

Deutsche Bank AG, Germany's biggest bank, may report its first quarterly loss in five years after writing down the value of loans for leveraged buyouts and asset-backed securities by $2.5 billion ($3.9 billion).

Deutsche Bank may report first loss in 5 yrs on Markdowns

Reserve Bank of India (RBI) Governor Y V Reddy, who presented his last Annual Policy Statement on Tuesday, spoke to Sidhartha on the challenges the central bank faces in balancing growth and inflation.

`Central bankers will surely need a lot of humility to think of future challenges`

Food prices Food prices firmed up in the second half of 2007-08 led by wheat, rice and edible oil, reflecting the surging demand  for consumption as food and as biofuels.

PRESSURE POINTS

I would repair to my wonderful terrace ambivalent about the upcoming end of my tenure  on the one hand, I will have to leave this lovely place; on the other, I would be through with the structurally thankless task of serving two masters: the market and the government.

If I were RBI governor...

Naina Lal Kidwai, Group General Manager and Country Head, HSBC India 
The Reserve Bank of India should be congratulated for managing a difficult situation so dexterously.

A preventive measure

Rana Kapoor, MD &amp; CEO, Yes Bank 
Hardening inflation and moderating growth amidst global uncertainties spelt a tightrope walk for the RBI in formulating the Annual Monetary &amp; Credit Policy for 2008-09.

Maintaining growth, managing inflation

Industrial Finance Corporation of India (IFCI) today announced a standalone net loss of Rs 42.52 crore for the fourth quarter ended March 2008 as against a net profit of Rs 668.43 crore in the corresponding period a year ago.

IFCI posts Rs 42 cr Q4 loss

Press Trust of India

Indian bank plans to open 12 new microstate branches to provide microfinance exclusively for self-help groups (SHGs) across the country in the next one year. With this, the total number of Indian Bank

Indian Bank to open 12 branches for SHGs

The decline of the dollar against the Japanese yen is unlikely to impact corporate India much as most yen loans are covered. Chief financial officers and forex experts said that 90 per cent of yen

Marginal impact on Indian firms

Private insurers see first premium rise 82% during April-January period. 


Life insurance market grows 18%

United Bank of India is targeting to double its business to Rs 150,000 crore by 2011 and has roped in Indian Institute of Management, Calcutta to formulate a mid-term strategic plan. 


UBI to double business to Rs 150,000 cr

The Rs 60,000 crore farm loan relief package announced by finance minister P Chidambaram in the budget might have become an issue of debate but write-offs are not new to the banking system. 


Banks write off Rs 60,000 crore NPAs in five years

State-owned lender Union Bank of India has entered into a strategic tie-up with financial services provider IDBI Capital Market to offer online trading services to customers.


Union Bank, IDBI Cap tie-up for online services

Meera Sanyal, country executive, ABN Amro Bank, said its interesting times to take over the reins, especially with ABN Amros integration with Royal Bank of Scotland (RBS) underway.

`We will continue to grow our business`

Reserve Bank of India governor Y V Reddy defended his decision to keep the rates unchanged by saying that all stakeholders should pay an uncertainty premia during uncertain times. 


Reddy justifies decision on rate

Barclays, a global financial services provider, announced the launch of Hello Money, a mobile banking service for its customers. The service will enable Barclays' customers access banking services

Barclays launches mobile banking in India

Bear Stearns 85 years as an independent Wall Street firm may be coming to an end as JPMorgan Chase considers buying the crippled company. 


Bear Stearns may lose freedom after Federal Reserve bailout

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