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RBI
to raise Rs.2500 crore under MSS
Mumbai:
The Reserve Bank of India plans to raise Rs2,500 crore
through the auction of 364-day and 91-day Treasury Bills,
under the Market Stabilisation Scheme, said an RBI press
release.
Of this Rs1,000 crore will be raised through the auction
of 364-day T-bills, while Rs1,500 crore will be raised
through the auction of 91-day T-bills.
RBI also proposes to raise Rs1,500 crore through the regular
auction. Of this, Rs1,000 crore will be raised through
the 364-day T-bills, while Rs500 crore will be raised
through the auction of 91-day T-bills.
July 20, 2005 before 12 p.m. Successful bidders will have
to make payment on July 22.
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Abu
Dhabi Bank's Indian operations post Rs.50.20 crore loss
Mumbai: Abu Dhabi Commercial Bank's Indian operations
have reported a loss of Rs50.20 crore in 2004-05 against
a net profit of Rs9.63 crore recorded in 2003-04.
A sharp rise in provisioning at Rs55.21 crore in 2004-05
(Rs 4.05 crore a year ago) has resulted in the loss. The
provisioning for bad loans rose to Rs31.66 crore in 2004-05
(Rs5.85 crore).
Its net non-performing assets (NPA) are still high at
12.73 per cent, though it is down from 27.39 per cent
in 2003-04. Its gross NPAs dropped to Rs 41.16 crore at
March-end (Rs77.07 crore) after writing off NPAs aggregating
Rs33.11 crore and recoveries of Rs5.70 crore.
Its net NPAs amounted to Rs11.43 crore as on March 31,
2005, down from Rs45.89 crore as on March 31, 2004. The
bank's income from Indian operations was also down by
9.63 per cent to Rs149.80 crore (Rs165.76 crore).
The total outstanding advances of the bank's Indian operations
came down to Rs89.85 crore in 2004-05 (Rs167.57 crore).
Its deposits too decreased to Rs1,662.54 crore in 2004-05
from Rs1,815.98 crore a year ago. The bank has a CAR of
14.38 per cent, up marginally from 14.22 per cent at the
end of 2003-04.
The bank has exceeded prudential exposure limit for individual
borrowers in the cases of Lloyds Steel, Larsen and Toubro,
Jet Airways, Sun Earth Ceramics, Bhagwandas Bherumal &
Co, Shree Precoated Steels and Tata Projects Ltd.
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