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CBI records statement of Buta Singh
The CBI today recorded the statement of Buta Singh, Chairman for the National Commission for Scheduled Castes (NCSC), in connection with a bribery case involving his son.

Curl ball
BofA: Bank of America chief executive Ken Lewis may have fouled things up by poorly executing on a series of takeovers during the financial crisis. But with BofA"s imminent payback of $45 billion of U.S. government assistance, unveiled Wednesday evening, his successor will be able to focus on reawakening the dormant banking monster — and can even get paid for the job.

News of the day

M&M surges 2.4 per cent
The stock gained 2.4 per cent to Rs 1,178.15, a lifetime high, after the company announced more than 100 per cent growth in its domestic auto sales for the month of December 2009. The domestic auto sales stood at 22,754 units, as against 10,253 units in December 2008, up 2.22 times.
Small Business

LIC Housing Finance net up 14%

LIC Housing Finance (LICHF) reported a 14 per cent rise in net profit to Rs 153.58 crore for the quarter ended December 2009 compared with Rs 134.33 crore in the year-ago quarter. - "Efforts on to limit bad assets" - SBI net declines 8.4 per cent - Wockhardt narrows Q4 loss to Rs 181 cr - Pantaloon Retail Q3 net up 51% at Rs 51 cr - Era Infra Q3 profit surges 85% to Rs 57 cr - Godrej Industries Q3 net up eight times at Rs 44 cr Over the same period, disbursements grew by 86 per cent to Rs 3,604 crore, while sanctions grew 72 per cent to Rs 4,516 crore. However, provisions jumped to Rs 15.83 crore compared with Rs 74 lakh in the corresponding period last year. Gross non performing assets (NPAs) as a percentage of advances were 1.44 per cent as of December 2009 as against 1.69 per cent in December 2008. The outstanding mortgage portfolio as on December 31, 2009, was Rs 34,166 crore as against Rs 25,335 crore a year ago, registering a growth of 35 per cent. Net interest margin improved to 2.76 per cent from 2.44 per cent at the end of the December 2008 quarter.


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