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Top Stories |
GDP growth pegged at 7.2 per cent for fiscal 2010
The Government has estimated the economy to grow by 7.2 per cent in the financial year 2009-10, against 6.7 per cent a year ago, despite contraction in farm production. The projected GDP figure for the current fiscal, as put out by the advanced estimates of the Central Statistical Organisation, is lower than the Reserve Bank and the Finance Ministry’s forecasts.
Foreign exchange reserves fall $1.98 billion
The country's foreign exchange reserves declined for the second consecutive week as foreign institutional investors turned net sellers in the equity markets. For the week ended January 29, foreign exchange reserves fell by $1.983 billion to $280.955 billion, according to the Reserve Bank of India's Weekly Statistical Supplement.
Indian banking stronger than BRIC counterparts: FICCI
Indian banking is stronger on vital banking parameters than other BRIC (Brazil, Russia, India and China) nations, according to a survey carried out by industry body Federation of Indian Chambers of Commerce and Industry (Ficci). According to the survey, the Indian banking system has maintained its resilience and continues to provide growth opportunities.
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Indian Financial Institutions |
Corporation Bank Q3 net up 19 per cent
Corporation Bank has recorded a net profit of Rs 305 crore for the third quarter of the fiscal, registering a growth of 18.9 per cent compared with the corresponding period previous year. The Chairman and Managing Director, Mr J.M. Garg, said the operating profit of the bank for the third quarter had increased to Rs 551.61 crore compared with Rs 449.40 crore recorded during the third quarter in the last fiscal.
Andhra Bank eyes Rs 1,000-crore net profit
Andhra Bank expects to achieve a net profit of Rs 1000 crore by the end of the current fiscal. The bank is also eyeing a total business of Rs 1.3 lakh crore by the end of 2009-10. The bank's total business touched Rs 1,17,899 crore for the third quarter ended December 31, 2009 which is a growth of 23.04 per cent over the same period of previous fiscal.
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International news |
Dubai World gets state aid of $6 billion
The Dubai government has pumped $6.2 billion into Dubai World and is prepared to put even more money into the conglomerate whose debt woes caused global market jitters late last year. The Dubai Financial Support Fund (DFSF) was set up by the Government in February last year to aid indebted state-run corporations, and has financed Dubai World.
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Crime Directory |
Attorney General sues Bank of America
The New York Attorney General has filed a lawsuit against the Bank of America (BofA) and its two former top honchos, including CEO Mr Kenneth Lewis, following its merger with Merrill Lynch.
"Once the deal was approved, BofA's management manipulated the federal government into saving the deal with billions in taxpayer funds by falsely claiming that they would back out of the deal without bailout funds," Mr Cuomo has alleged in his lawsuit.
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8.2.2010
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| Currency |
Rate (Rs.) |
Change |
| USD |
46.81 |
-0.25 |
| Euro |
63.80 |
0.05 |
| GBP |
72.90 |
0.30 |
| Yen (100) |
52.39 |
-0.50 |
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8.2.2010 16.00
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Index |
Change |
| NIFTY |
4760.40 |
3.15 |
| SENSEX |
15935.61 |
19.96 |
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Market Updates |
Sensex ends 19 points up
The Bombay Stock Exchange benchmark Sensex ended the session on Monday with a gain of 19.96 points at 15,935.61. The wide-based National Stock Exchange index Nifty was up 3.15 points at 4,760.40. The Sensex recovered from its early losses in the post noon session on fresh buying by investors after the Government estimated the economy to grow at 7.2 per cent this fiscal.
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