The Hindu Business Line : Saturday, June 24, 2000

	Financial Daily from THE HINDU group of publications Saturday, June 24, 2000

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Banking & Finance

Banking and Finance
NRI deposits seen rising
THE NRI deposits maintained with banks are poised to surge again as a result of the recent erosion in the value of the rupee and renewed interest in foreign currency deposits.

Kerala co-op bank net up at Rs 6.5 cr
THE Kerala State Co-operative Agricultural and Rural Development Bank has earned a net profit of Rs. 6.5 crores in 1999-2000, as against Rs. 5.5 crores in the previous year.

UTI Bank plans big e-com push
UTI Bank Ltd is undertaking some big initiatives for its e-commerce strategy and has appointed KPMG to draw up the road map for the same.

Unions plan meet on wage issue
SEVERAL unions of bank employees and officers will meet here on July 5 to discuss the issue of the non-implementation of the revised wages in three banks, namely, United Bank of India, UCO Bank and Indian Bank.

Bank of Rajasthan posts net profit of Rs 12.07 cr
BANK of Rajasthan has registered a net profit of Rs. 12.07 crores for the year ended March 2000 as compared to a net loss of Rs. 67.45 crores last year.

Net profit of 11 old pvt banks up 74% -- Economic upturn, cost cuts lift bottomlines
OLD private banks -- the underdogs of the banking world -- registered a 74 per cent growth in net profits in fiscal 1999-2000. Eleven leading private banks (the old private bank group consists of 25 members) reported post-tax earnings of Rs. 52 3 crores in 1999-2000.

SBI comes off highs to end flat
THE State Bank of India share ended the week on a flat note at Rs. 236, off the high of Rs. 248 it touched earlier on Friday afternoon. The share was reacting to the results announced on Thursday -- it has doubled its net at Rs. 2,051 crores. The shar e gained Rs. 20 in the previous week.

PNB Gilts issue to be priced at Rs 20 premium
PNB Gilts Ltd, a wholly-owned subsidiary of Punjab National Bank, is proposing to come out with an initial public offer (IPO) of 3.5 crore equity shares by mid-July. This public issue will be the first from the PNB group and will also be the first IPO by any primary dealer.

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