J&amp;K Bank today announced a net profit of Rs 59.80 crore for the quarter ended March 31, a 32 per cent growth over the corresponding period a year-ago.

J&K Bank Q4 net up 32% to Rs 59.80 cr

Press Trust of India

The merger of State Bank of Saurashtra into State Bank of India (SBI) will be completed after addressing important legal issues at the earliest and thereafter the process of amalgamation of other associates would begin, SBI Chairman OP Bhatt has said.

Merger of SBS into SBI soon

&nbsp;New dollar purchase facility, easy ECB norms boost sentiment.
&nbsp;The spot rupee opened stronger on Monday at 42.15-17 after closing at 42.76 to a dollar last week.

RBI aid for oil firms lifts Re

Business Standard

The merger of State Bank of Saurashtra (SBS) into State Bank of India will be completed after addressing important legal issues at the earliest and thereafter the process of amalgamation of other associates would begin, SBI Chairman O P Bhatt has said.

Merger of SBS with SBI soon

State Bank of India has launched its Agriculture Debt Waiver and Debt Relief Scheme-2008 in Jamli village near Indore.

SBI kicks off debt waiver

The Burman family, promoters of the Dabur Group, and the US-based Liberty Mutual Group on Monday joined hands to set up a non-life insurance venture in India.

Burmans, Liberty Mutual tie up for non-life insurance JV

J&amp;K Bank on Monday announced a net profit of Rs 59.80 crore for the quarter ended March 31, a 32 per cent growth over the corresponding period a year-ago.

J&K Bank Q4 net up 32%

The Allahabad Bank board today approved the proposal to raise about Rs 149 crore from selling rights shares to stakeholders.

Allahabad Bank okays  Rs 149 cr rights issue

With valuation of banks going up and a very few private ones available for takeover, ICICI Bank is looking at growing internally rather than go for consolidation.

ICICI looks for internal growth

Market regulator Securities and Exchange Board of India (Sebi) today ruled out relaxing curbs imposed last year on participatory notes, a derivative tool that enables unregistered foreign investors to invest in Indian stock markets.

No change in policy stance on P-Notes: Bhave

The Hongkong and Shanghai Banking Corporation (HSBC) India today said that its net profit rose 40.90 per cent to Rs 1,192 crore during the year-ended March 2008, compared to Rs 846 crore in 2006-07.

HSBC India FY08 net up by 41% to Rs 1,192 cr

Syndicate Bank has revised the rates of interest upwards on Non-Residential External (NRE) Term Deposits and FCNR(B) deposits with effect from June one.

Syndicate Bank revises interest rates

Banks' lending rates are likely to remain "flat" in the near-term, a top banker said.

Lending rates to remain 'flat': HSBC

HDFC Bank today alloted over 2.62 crore shares, worth Rs 4,000 crore, to its promoter Housing Development Finance Corporation Ltd on preferential basis.

HDFC Bank allots shares worth Rs 4,000 cr

Punjab National Bank (PNB) today announced hike in interest rate on Foreign Currency Non-Resident (B) deposit schemes for dollar, British pound and euro with effect from June 1.

PNB hikes interest rates on non-resident deposits

&nbsp;Kotak Mahindra Bank is looking at expanding its footprint in Gujarat. The bank has just opened its first branch in Gandhinagar and will open 12 new branches in the state taking its total number of branches to 45.

Kotak Bank to set up 12 new branches in Gujarat

bTo enable investors manage volatility in the currency markets, market regulator Securities and Exchange Board of India (Sebi) today said exchange-traded currency futures would be permitted in the next three months.

Currency futures in 3 months, says Sebi

The cost of protecting bank bonds from default rose after Standard &amp; Poor&#39;s cut the debt ratings of Morgan Stanley, Merrill Lynch &amp; Co and Lehman Brothers Holdings Inc because they may have to book more writedowns.

Bank bond risk jumps after S&P forecasts more credit writedowns

Many commercial banks, including State Bank of India (SBI), have hiked the interest rates on hard currency term deposits of non-resident Indians.

Banks raise rates on NRI deposits

The Hongkong and Shanghai Banking Corporation (HSBC) India today said its net profit rose 40.90 per cent to Rs 1,192 crore during the year ended March 2008, compared to Rs 846 crore in 2006-07.

HSBC India FY08 net up 41 per cent

Ever since the Insurance Regulatory and Development Authority (Irda) allowed motor insurance companies to decide premiums in December 2007, car insurance premiums have fallen sharply.

Car premiums go 30% cheaper

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