Prepared By:

NEELAM MONGA

MBA-2C

1.

Union Bank posts disappointing results One of the leading names in the Indian bankingindustry, Union Bank of India has recently posteddisappointing Q2 results in the Indian market whereinthe banking giant has said that it net profits havefallen by close to 40%.

While the bank said that it has provided more forrising bad loans which may keep rising, but at a slowerpace. According to the numbers posted by the bank,the earnings stood at Rs 304 crore, which was muchdown from the Rs505 crore earned by the bank in a year ago period

Canara Bank share rise to all time high State-owned Canara bank posted 10 percent growth innet profits. Today, at Bombay Stock Exchange the banktouched it's all time high, of Rs. 693.30 while surging 5percent.

For second quarter which ended on 30 September,2010, the bank reported Rs 1,007.8 crore net profitscompared to the profit of Rs. 910.5 crore, in the sameperiod of the last fiscal year.

US stocks rise across board on G20 pledge The three US benchmark stock indexes rose Monday,buoyed by agreement among the Group of 20 nationsin South Korea to prevent a currency war and strongerhome sales.

The gathering of G20 finance ministers and centralbank chiefs in Kyongju, South Korea, over the weekendproduced a call to move towards exchange ratesdetermined by the market. The agreement followsmonths of allegations aimed mainly at China ofexchange rates being kept artificially low in order toboost their own economies.

SBI hikes the base rate The State Bank of India (SBI), the major lender in thenation, publicized an increase in its loan rates.

The base rates, which rolled up into effect by July 1,2010, by 0.1 % to 8.6 % and the benchmark primelending rate (BPLR) by 0.25 % to 12.5 % onWednesday.The fresh new rates shall be implemented fromThursday.

The BPLR increased by SBI is probably to influence theequated monthly installments (EMIs) of the currenthome and auto loan borrowers by Rs 16 per lakh foralmost 20year loan.

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