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Kingfisher Airlines net declines 13% at Rs 418 cr
Vijay Mallya-controlled Kingfisher Airlines has reported a 13.4 per cent drop in its net loss at Rs 418.23 crore during the second quarter ended September 30, 2009 compared to a net loss of Rs 483.2 crore in the corresponding quarter last year. Its income from operations declined by 13.6 per cent to Rs 1,142.1 crore during the quarter compared to the same period a year ago.

Govt expects credit offtake to pick up soon
Credit offtake was expected to pick up in the coming months on the back of policy steps taken by the Reserve Bank of India (RBI) to boost credit growth, Minister of State for Finance Namo Narain Meena said today.

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GMR raising Rs 13,000 cr for power, road projects
In advanced discussions with many domestic lenders, including SBI, Axis Bank and IDFC for raising the debt.
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TMB eyes Rs 20,000 cr business

Tuticorin-based Tamilnad Mercantile Bank (TMB) has set a target of Rs 20, 000 crore business by March 2010 from the present Rs 16,000 crore. - TMB likely to have board of directors by March Of this, it expects advances to contribute around Rs 8,500 crore and deposits Rs 11, 500 crore, said G Nagamal Reddy, managing director and chief executive officer, TMB. Speaking to reporters after launching the bank’s debit card, he said CASA (current and savings account) deposits would be increased to Rs 650 crore by December 2010 to reduce the cost of deposits. “It is a positive sign that the cost of deposit has come down from 8.08 per cent last year to 7.45 per cent at present,” he added. Export credit too declined to 7.5 per cent from the existing 8.75. “We have in excess of Rs 1,000 crore as reserves,” he said. The bank is also targeting the credit card segment. It currently has around 5,000 cardholders . “We intend to double the credit card holders to increase the non-interest income,” Reddy said.


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