Public sector Syndicate Bank today reported a 32 per cent drop in net profit to Rs 177.8 crore for the second quarter ended September 30 as compared with the corresponding quarter of last year. Its operating profit for the second quarter declined 5.2 per cent to Rs 443.3 crore compared to the year-ago period.

Syndicate Bank net drops 32% to Rs 177 cr

Business Standard

United Bank of India (UBI) posted a net profit of Rs 83.83 crore for the quarter ended September 2009, as against a loss of Rs 188 crore for the same period of the last financial year.

UBI Q2 improves markedly

Central Bank of India said its net profit jumped over three-fold to Rs 313.9 crore for the second quarter ended September 30 over the same period last year. Total income rose 22.2 per cent to Rs 3,384 crore in the July-September quarter against Rs 2,768.9 crore in the same period last year, it said in a filing to the Bombay Stock Exchange.

Central Bank net jumps 3-fold

Lakshmi Vilas Bank (LVB) has reported over two-and-a-half times growth in net profit at Rs 22 crore for the quarter ended September 30, compared to Rs 6.92 crore in the year-ago period.

Lakshmi Vilas net up

Punjab National Bank (PNB) has pipped ICICI Bank to emerge as the second-largest bank in terms of the size of business.

PNB beats ICICI in biz size

India's largest public sector bank, State Bank of India (SBI) today reported 10.18 per cent rise in Q2 net profit for the quater ended September 30, 2009. The bank reported a porift of Rs 2,490 crore for the as against Rs 2,260 crore in the corresponding quarter a year ago.

SBI Q2 net up 10% at Rs 2,490 cr

Govt grants this relief to farmers in view of drought in many parts of the country.

6 more months to repay farm loan

In a move aimed at improving the demand for government bonds, the Reserve Bank of India (RBI) has eased accounting rules for standalone primary dealers.

Accounting rules for primary dealers eased

A large part of the government borrowing programme for the financial year has already been completed and the process has been fairly non-disruptive, said Reserve Bank of India Deputy Governor Shyamala Gopinath in Mumbai today.

Government borrowing non-disruptive so far: RBI

Issuances of short-term money market instruments fell today as mutual funds avoided purchases on fears they would start facing redemptions for corporate advance tax payments from next week, dealers said.

CP-CD: Rates flat, issuances down

The rupee completed its worst month since February as Asian equity losses fueled concern global funds will pull money out of the region.

Re has biggest monthly slide since February

The banks in Orissa provided Rs 782.32 crore loan to the micro, small and medium enterprises (MSMEs) during the first four months of the current fiscal.

Banks lend Rs 782cr to MSMEs in first four months

The first Islamic bank in the country with active involvement of the Kerala government is likely to start operations in Kochi by next year as the bank&rsquo;s registration formalities are currently being fulfilled on a war footing. The Kerala industries department is actively involved in the new initiative and a high level meeting held at Kozhikode on August 12 had approved a project report prepared by Ernst &amp; Young.

India's first Islamic bank to start in Kerala by 2010

National Bank for Agriculture and Rural Development (Nabard) has launched a novel development project &lsquo;Wadi&rsquo; in Bundelkhand region for the welfare of tribal communities in Uttar Pradesh.

Nabard launches livelihood project for UP tribals

The Reserve Bank of India&rsquo;s (RBI&rsquo;s) decision to end the free run at automated teller machines (ATMs) is going to come with a lot of troubles for bank customers. The only thing that&rsquo;s clear is the October 15 deadline for the end of free third-party ATM use.

3rd party ATM curbs to trouble customers

Former Punjab &amp; Sind Bank Chairman and Managing Director RP Singh is likely to be appointed as the head of Punjab National Bank (PNB), the country&rsquo;s third largest public sector player.

RP Singh front-runner to head PNB

The Indian rupee strengthened by 9 paise against the US currency in the opening trade today on $ selling by banks and exporters.

Re rises by 9 paise to 48.73 a dollar in opening trade

Press Trust of India

Remittances to India by expatriates living in the United Arab Emirates could rise in the days ahead in view of the coming festive season and the fear that the rupee would weaken further against the US dollar, media reports here said.

Remittances from UAE to India to grow in coming months

Bank of America (BofA) has proposed to repay part of the US government bailout money, while the US is pressing the bank to pay at least $500 million to defer a tentative agreement that would have the government share its losses on certain assets, says a media report.

BofA offers to repay part of govt bailout: report

Loan disbursements, which dipped due to economic slowdown, during the nine months ending May 2009, is expected to pick up post-September with an improvement in industrial activities, a top banking industry official said.

PSU banks expect pick up in credit offtake post-Sept

Public-sector lender, Union Bank of India (UBI) today cut interest rates on foreign currency non-resident (bank) account deposits and non resident external rupee term deposits with immediate effect.

Union Bank cuts foreign currency deposit rates

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