Although the state State-owned Bank of India on Friday reported an increase of 10 per cent in its net profit at Rs 716 crore for the quarter ended Dec 31 against Rs 653 crore during the like period of the previous financial year, it has increased a lot of exposure to corporate loans. Corporate loans account for nearly half...
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RBI warns Indian banks – Enhance cyber security or face action
January 27, 2012
By anilThe banking regulator RBI expects reasonable compliance for cyber security. RBI will take a serious action against banks that do not implement the recommendations of the committee. By October 2012, banks will have to implement the recommendations,” Gopalakrishna said here. Banks with a high technology...
India’s Crude Oil output declines in December
January 27, 2012
By anilIndia’s crude oil and natural gas output fell in December for a third straight monthly year-on-year drop due to a natural decline at ageing fields, government data showed Friday. Oil output decreased 5.6% in December to 3.17 million tons, or 750,355 barrels a day, from...
Ford Posts Record Profits – Highest since 1998
January 27, 2012
By anilFord reported its best annual earnings since 1998 on Friday, making 2011 the second most profitable year in the company’s 109-year history. But much of the profit was attributed...
Bad news for Ranbaxy – Might have to forgo $200 Million
January 27, 2012
By anilRanbaxy Laboratories Ltd., India’s biggest drugmaker, may forego at least $200 million in sales as a result of a proposed settlement with U.S. authorities over manufacturing violations, a Kotak...
Find the Sensex firms that FIIs are buying
January 27, 2012
By anilForeign funds took a shine to Indian Sensex companies in the third quarter and increased their exposure to 17 blue-chip firms, including Tata Motors and ITC, which analysts have...