Private sector lender Kotak Mahindra Bank reported 99 per cent growth in the consolidated net profit for the quarter ended March 31, 2010, at Rs 418.6 crore compared with Rs 210.7 crore in the same period in the previous financial year. The company also announced its board had approved a 2:1 stock split to increase liquidity of the bank&rsquo;s shares and enhance its retail shareholder base.

Kotak Mahindra Bank fourth-quarter net up 99%

Business Standard

Dhanlaxmi Bank has posted a 74.8 per cent drop in net profit to Rs 5.6 crore for the fourth quarter ended March 2010, as against Rs 22.25 crore in January-March 2009, due to an increase in operational expenditure. Net profit for 2009-10 dropped to Rs 23.3 crore from Rs 57.45 crore in the previous year.

Dhanlaxmi Bank net falls 74.8%

Helped by strong demand recovery, Bajaj Auto Finance has posted a 67 per cent rise in its net profit at Rs 25.2 crore for fourth quarter ended March 31 as against Rs 15.1 crore in the corresponding period last year.

Bajaj Auto Fin net up 67% to Rs 25 cr

Banks and companies preferred to remain on the sidelines on Tuesday due to abundant liquidity in the system, dealers said.

Short-term debt issues down

The German Cabinet has approved the country's share of a massive 750 billion-euro (nearly a trillion-dollar) financial rescue package for the euro region. The approval that came yesterday was agreed by the European Union Finance Ministers over the weekend in Brussels.

Germany okays trillion-dollar Euro zone bailout plan

The Reserve Bank of India (RBI) did not trade in dollars during the four months to March, 2010, despite heavy inflows of foreign capital that led to the Indian rupee rising sharply against the US currency in the last fiscal, the central bank's monthly bulletin today showed.

RBI did not trade in dollars for four months up to March

Press Trust of India

Insurance giant Allianz today reported a four-fold growth in first quarter net profit to euro 1.58 billion ($1.97 billion), fuelled by the strong performance of its life and health insurance and asset management businesses.

Allianz Q1 net soars to euro 1.58 bn

Commercial vehicle financier Shriram Transport Finance Corp (STFC) plans to tap the debt market to raise up to Rs 500 crore through a public issue of non-convertible debentures (NCDs).

Shriram Transport  Fin to raise Rs 500 cr

The Swiss government proposed measures designed to curb risk-taking at UBS AG and Credit Suisse Group AG as it bids to win parliamentary approval for a tax treaty with the US.

UBS, Credit Suisse should curb risk, says Swiss govt

International Finance Corporation (IFC), a World Bank group arm, is planning to invest around $150 million (around Rs 660 crore) in Export-Import Bank of India (Exim). The proposed investment includes $75 million (Rs 337.5 crore) on IFC&rsquo;s own account. The remaining $75 million will be mobilised from another private sector commercial bank. The investment involves a long-term loan to Exim Bank. The proceeds of the IFC loan component will be used to finance exports to Africa from private sector exports clients of Exim Bank.

IFC to invest $150 mn in Exim Bank

Following hot on the heels of Monday morning&rsquo;s shock announcement of a trillion dollar safety net for an increasingly shaky euro, the European Commission today announced a set of proposals aimed at increasing the economic and fiscal coordination of European Union member states. The new measures, if implemented, would move beyond immediate fire fighting and instead begin to redress the fundamental imbalances and contradictions within the euro zone that allowed an emergency like the Greek sovereign debt crisis to arise in the first place.

Europe eyes tougher fiscal discipline; creation of EMF

New York University professor Nouriel Roubini said Greece and other &ldquo;laggards&rdquo; in the euro area may be forced to abandon the common currency in the next few years to spur their economies.

Roubini says Greece may lead Euro exodus

Blackstone Group LP, Thomas H. Lee Partners LP and TPG Capital are in talks to pay more than $15 billion including debt for Fidelity National Information Services Inc, said a person with knowledge of the matter, a deal that would value the company at about $32 a share.

Blackstone, THL Group&#39;s Fidelity bid may exceed $15 bn

Reserve Bank of India Governor D Subbarao has said India, being a current account-deficit country, is more vulnerable to sudden reversals in capital flows and short-term overseas portfolio money than nations which have a current account surplus.

India more vulnerable to capital flows: Subbarao

Citi India today announced the appointment of five executives in senior roles, including head of strategy and head of human resources (HR).

Citi India announces 5 senior appointments

The Indian rupee appreciated by 11 paise to 45 a dollar in early trade today helped by increased capital inflows by foreign funds into equities and the US currency's loss against other major currencies overseas.

Rupee gains 11 paise against dollar in early trade

Reserve Bank Deputy Governor Subir Gokarn today said the Greek debt crisis will not force the central bank to give up its hawkish monetary policy stance, as it has already factored in the impact of global uncertainties.

Greek crisis not to change RBI's exit roadmap: Gokarn

The British insurance behemoth Prudential may launch its $21-billion rights issue early next week after agreeing to the proposed changes to the financing plans of its proposed $35.5-billion takeover of AIA, the Asian businesses of the failed American insurer AIG.

Prudential may launch $21-bn rights issue next week

The Reserve Bank of India (RBI) today permitted banks to let firms draw foreign exchange for payment of royalty for technical know-how overseas without government's prior permission, a move that will encourage technological collaborations.

Let firms draw forex for royalty payment without nod: RBI

&lsquo;End use to be under the Reserve Bank of India scanner&rsquo;.

Capital flows to gain further momentum, says Gokarn

In an effort to increase financing for environment-friendly projects, banks have proposed a 0.5 per cent cess on high carbon-producing projects to create a fund that will provide resources for green projects.

Banks propose fund for low-carbon projects

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