Rupee dips further - G-Secs gain
Mumbai: The rupee weakened further on Friday closing at Rs43.42 against the dollar, versus its close yesterday at Rs43.37 per dollar.

G-Secs: Bonds rose further because some primary dealers and foreign banks stepped up buying, amid hopes that sentiment-dampening factors are unlikely to emerge in the next few days.

Call rates: The inter bank rates opened today (Friday) at 5.00-5.10 per cent against its previous day's close of 4.95/5.05. There was routine demand for funds from banks to cover their daily reserve requirements.
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Govt. to dispose off surplus gold and silver
New Delhi: The Government has said that it has decided to sell surplus gold and silver lying in its mints.

There are about five tonnes of surplus gold and 1,670 metric tonnes of silver lying in Government mints, the Minister of State for Finance, S S Palanimanickam said in a written reply in the Lok Sabha.

He said the bullion market demand would determine the quantity of gold and silver likely to be sold.
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ICRA rates Bharat Overseas Bank's debt at 'A1+'
New Delhi: Credit rating agency, ICRA has assigned the highest safety 'A1+' rating to the Rs200 crore certificate of deposits of the Bharat Overseas Bank.

The rating factored the bank's deposit cost advantage which it enjoys through a substantial proportion NRI deposits, adequate capitalisation, systematic controls in place to monitor credit risk resulting in the improved NPA levels, ICRA has stated in a release.

The rating also draws comfort from higher-than-required Statutory Liquidity Ratio (SLR) investments maintained by the bank to support its short-term liquidity position, the release said.
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Centurion Bank targets 65 per cent growth in business
Ludhiana: The Centurion Bank is aiming to grow its business by 65 per cent focussing on retail, small and medium enterprises and open 15-20 more branches in this fiscal.

The Centurion bank recently raised $80 million through Global Depository Receipts (GDR) and has 99 fully networked branches and extension counters, including 15 branches in north India, and 155 ATMs across the country.

Bank officials said that the bank was aiming at a minimum of 65 per cent growth in respect of business in India and expressed the confidence that they would attain it.
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PNB aiming at 20 per cent growth in profit and business
New Delhi: Punjab National Bank (PNB) is aiming at 20 per cent growth in net profit and a Rs2,00,000 crore business turnover this fiscal by focusing on the retail segment, according to its officials.
Officials said that they aim to become the strongest bank in the country and expect to maintain the net profit growth of 20 per cent if not more.

PNB, which posted a robust 27 per cent rise in net profit at Rs1,410 crore for 2004-05, is aiming to take it up to Rs1,700 crore by the end of this fiscal.

The newly appointed PNB chief has set an ambitious target of attaining 50 per cent of the budgeted goals in the first half of fiscal, so as to minimise the pressure and ensure better asset-liability management in the second half.

The Delhi-based bank, which clocked a business (advances and deposits) of Rs1,63,579 crore last fiscal, is aiming to cross the Rs2,00,000 crore mark by March end 2006.

PNB expects deposits to cross Rs1,15,000 crore in 2005-06 from Rs1,03,167 crore in 2004-05, and loan advances to grow from Rs60,413 crore to Rs72,000 crore.

Officials said that the bank would focus on the retail segment such as housing and personal loans where risks are low. The bank will also target export and agriculture sectors apart from the corporate segments for pushing up loan growth.
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