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Bank of Baroda net up 60.4%
Control on operating expenses and growth in margins and other income helped Bank of Baroda (BoB) post a 60.4 per cent rise in net profit to Rs 634.18 crore for the second quarter ended September 2009. Its net profit in July-September 2008 was Rs 395.29 crore.

BoB surges on Q3 net jump
Bank of Baroda (BoB) ended at Rs 556, higher by Rs 33 or 6.4%, on the BSE.

News of the day

ONGC jumps on fuel price hike
The ONGC scrip rose 7 per cent to close at Rs 1,126.45 on fuel price hike. The government raised the price of petrol by Rs 4 a litre and diesel by Rs 2 after market hours on July 1. Following the hike, experts believe that the ONGC"s subsidy burden for the current year would reduce if the crude prices stay at around $70 a barrel. The stock opened at Rs 1,081.1 and made a high of Rs 1,155.7 and a low of Rs 1,076.1. The total traded volumes stood at 1.9 million shares (around 4 times its two-week average).
International Business

Nearly 60% of state to be under UID in a year

The pilot run for the Unique Identification Authority of India (UIDAI), headed by Nandan Nilekani, could cover nearly 60-70 per cent of citizens in Karnataka within a period of one year post commencement. Karnataka would be the first state to come under the UID project that seeks to issue a unique ID number for each citizen. - UIDAI gets new address, to shift soon - UID: Authentication to fetch Rs 288 cr annually - No unique ID numbers, says Nilekani - Sunil Sethi: The crisis of identity proofs">Sunil Sethi: The crisis of identity proofs - No chance of getting no of your choice under UID - Panel to decide on biometrics for UIDs: Nilekani At present, the Karnataka government is waiting for guidelines from the UIDAI, after which the planning on issuance of the number would commence. “After we get the guidelines from UIDAI, we will know when we can start and which places we can cover in the first phase,” said M N Vidyashankar, principal secretary, department of e-governance, government of Karnataka. The department will appoint a joint commissioner for dissemination of information on the UID project. The UID is a complex and ambitious project with UIDAI as the regulatory authority. It will manage a central ID Data Repository (CIDR) which will issue UID numbers, update resident information and authenticate the identity of the residents as required. Boosted by the success of its e-governance projects like Bhoomi and Kaveri, the Karnataka state government is looking at an investment line-up of Rs 400-450 crore till March 2010, which is double of its e-governance spend last year. Under its Bangalore One project, which looks to bring government-citizen interactions under a single umbrella, the government is increasing the number of centres from 56 to 100 by December 2009 and spreading the initiative to other parts of state under the title ‘Karnataka One’. It is also setting up a second data centre by June 2010. The state will extend its network of rural BPOs which provides employment to local graduates. There are plans to set up a rural BPO in each of the 30 districts in Karnataka by December 2010.


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