Kerala banks post marginal growth in advances

September 25th, 2009 THIRUVANANTHAPURAM - Kerala, which for the first time is participating at the International French Tourism Mart (IFTM) Top Resa in Paris that concludes Friday, has received 47 industry-related queries, the government said. "They include Fram, Escape Mandarin and La Route de Indes," said Kerala Tourism in statement issued here Friday, referring to three French tour operators interested in tapping the state's tourism sector.

August 3rd, 2009 THIRUVANANTHAPURAM - Kerala Tourism has been awarded the 2009 Pacific Asia Travel Association (PATA) Gold Award in the marketing destination category and has been selected as "best in class" from amongst 236 entries worldwide. The award ceremony will take place Sep 25 during the PATA Travel Mart 2009 in Hangzhou, China, according to a Kerala Tourism release issued here Monday.

July 25th, 2009 BANGALORE - State-run Vijaya Bank returned to the black by posting a net profit of Rs.143 crore for the first quarter this fiscal as against a net loss of Rs.766 million in the same period of previous fiscal. "Our core earnings during the first quarter have been impressive despite slackened business growth.

July 10th, 2009 BANGALORE - Technology meltdown and currency volatility have forced Infosys Technologies Ltd to lower its guidance for the second quarter (July-September) and the entire fiscal (2009-10), projecting a marginal decline in revenues. In its regulatory filing Friday, the IT bellwether said consolidated income in the second quarter (Q2) is expected to be Rs.53.18-54.13 billion (Rs.5,318-5,413 crore), which is a decline of 1.9-0.1 percent year-on-year (YoY), as per the Indian accounting standard.

June 25th, 2009 THIRUVANANTHAPURAM - Deposits by non-resident Indians (NRIs) in Kerala banks grew from Rs.29,889 crore in March 2008 to a record high of Rs.37,019 crore as on March 31, 2009, according to the State Level Bankers Committee (SLBC). This was revealed at the 99th meeting of SLBC that took place here Thursday.

June 10th, 2009 NEW DELHI - Finance Minister Pranab Mukherjee on Wednesday asked banks to cut interest rates and provide affordable credit to industry to spur economic activity. Addressing chief executives of public sector banks here, Mukherjee said, "As a financial intermediary the banks have to stand by to provide credit at reasonable rates." "The reduction in key rates by the Reserve Bank is not adequately reflected in the reduction of Benchmark Prime Lending Rates (BPLR) of banks," he added.

June 8th, 2009 NEW DELHI - A Community Radio Station will start functioning at Wayanad Social Service Society, Mananthvady in Kerala. The Ministry of Information and Broadcasting has given permission for establishing, maintaining and operating a Community Radio Station (CRS).

May 10th, 2009 NEW DELHI - India's manufacturing sector showed marginal signs of recovery in the second and third quarters of the last fiscal as compared to the corresponding quarters in 2007-08, says a report by an industry lobby. A Confederation of Indian Industry (CII)-Ascon survey said five sectors - fertilisers, low and high density polythene, pig iron, steel and mopeds - moved from negative to moderate growth.

April 24th, 2009 THIRUVANANTHAPURAM - State Cooperation Minister G. Sudhakaran Friday said the total deposits in the 1,614 cooperative banks in Kerala would keep increasing despite the slowdown and touch Rs.50,000 crore by November.

April 24th, 2009 THIRUVANANTHAPURAM - Deposits by non-resident Indians (NRIs) in Kerala banks grew from Rs.31,865 crore in June 2008 to Rs.34,649 crore as on Dec 31, 2008, according to the State Level Bankers Committee (SLBC). The SLBC in a meeting here Friday said the State Bank group has posted higher growth in deposits during the period than the other nationalised and private banks.

April 16th, 2009 KOLKATA - Public sector lender United Bank of India (UBI) Thursday reported 27 percent growth in advances at Rs.36,000 crore and 16 percent rise in deposits at Rs.54,000 crore in 2008-09. 'Our bottomline is likely to be between Rs.150-200 crore after we close our books,' UBI chairman and managing director S.C.

March 18th, 2009 THIRUVANANTHAPURAM - Kerala-based Dhanalakshmi Bank will soon open 80 new branches across the country and raise Rs.4 billion (Rs.400 crore) in the next fiscal, a top official said here. At present, the 81-year-old bank has 174 branches in the country, of which 130 are in Kerala.

February 18th, 2009 THIRUVANANTHAPURAM - Kerala's 2006 per capita debt stood at over Rs.14,300 - the highest among states in south India - against the national average of around Rs.9,000. This was stated in the Economic Review 2008 tabled in the Kerala Assembly Thursday.

February 3rd, 2009 THIRUVANANTHAPURAM - The Kerala government Wednesday gave its nod to set up a 2,400 MW thermal power plant in the state facing shortages of electricity supply. Chief Minister V.S.

January 16th, 2009 THIRUVANANTHAPURAM - Kerala Finance Minister Thomas Isaac Saturday said the state is soon going to feel the heat of the economic slowdown as remittances from abroad are certain to fall in the coming months. 'It is going to be a tough time on account of the fall in remittances which incidentally have been keeping the state afloat for several years,' Isaac told reporters after the meeting of the Kerala State Planning Board here.