During Jan-Mar 2013, net profit of State Bank of Hyderabad fell 21 per cent to Rs 379 crore compared to Rs 481 crore in the year-ago period. For the full year 2012-13, net profit declined 3.70 per cent at Rs 1,250 crore (Rs 1,298 crore). Total business grew by 16.9 per cent to Rs 2,10,532
Tag: finance
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STFC to raise Rs 20 bn via bonds
Shriram Transport Finance Company (STFC) decided to raise Rs 2,000 crore by the way of non convertible debentures in 2013-14 in one or more tranches. The company said this while announcing earnings results for the entire financial year 2012-13. Its net profit rose 8 per cent to Rs 1,361 crore year on year during 2012-13
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SBI sees relief in exposure to steel firms
In an interview to a leading media, Pratip Chaudhuri, Chairman of State Bank of India (SBI) said the bank's entire exposure to the steel sector which were either NPA or restructured have now become standard. The stress on the bank's asset in this sector got reduced because of improvement in the supply of raw material to steel companies. It may be noted that the sup
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Govt supports dredging projects of major ports
Union Minister for Shipping GK Vasan informed the Lok Sabha that his ministry provides budgetary support to major ports to undertake capital dredging projects. He said the three major ports i.e. Chennai, Ennore and Vishakapatnam have navigational channel having more than 17 metre draft and are capable of handling larger vessels. Also, the government has been providing subsidy to meet the cost of maintenance dredging in Kolkata Port whi
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Income of Gujarat Pipavav Port rises in March quarter
Net sales or income from operation of Gujarat Pipavav Port rose to Rs 124.47 crore during Jan-Mar 2013 from Rs 100.38 crore in the year-ago period. The port posted Rs 35.37 crore net profit during the quarter under consideration against Rs 14.08 crore in the corresponding period of
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Transmission of RBI policy signals is asymmetrical
A research paper from Reserve Bank of India (RBI) shows that transmission of monetary policy signals to financial markets in India is asymmetrical. It is asymmetrical because the transmission is faster and persistent when the monetary system is in deficit mode, than when it is in expansionary phase, the paper argu
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PM wants ADB to devise novel ways for financing infrastructure
For the long-term infrastructure needs of the region, Prime Minister Manmohan Singh asked the Asian Development Bank (ADB) to introduce innovative instruments. Speaking at the multilateral lending body's annual meeting in New Delhi, Singh said the ADB must find innovative ways to channelise global savings into infra
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Railways takes steps to strengthen financial position
Railways have taken various measures to improve its financial condition, which inter alia, include rationalization of the fare and freight structure taking into account the cost of inputs, introduction of dynamic Fuel Adjustment Component (FAC) in its tariff, proposed setting up of rail Tariff Regulatory Authority (RTRA), prioritizing the projects for better resources utilization, setti
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IMF deputy head expects 5.8 per cent economic growth
In 2013-14, the Indian economy may expand 5.8 per cent and in 2014-15 it may grow 6.3 per cent, Naoyuki Shinohara, Deputy Managing Director of the IMF said. This compares to an average growth rate of 8.7 per cent for the five years prior to the global financial crisis, he said
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IMF deputy head expects 5.8% economic growth
In 2013-14, the Indian economy may expand 5.8 per cent and in 2014-15 it may grow 6.3 per cent, Naoyuki Shinohara, Deputy Managing Director of the IMF said. This compares to an average growth rate of 8.7 per cent for the five years prior to the global financial crisis, he said