Thursday, July 14, 2011

SC reserves orders on Kerala temple treasure trove

Source : Livemint:PTI   01:09 PM | July 14,2011

 The Supreme Court on Thursday reserved its interim orders on the question of permitting inventory, videography and providing fool proof security to the estimated over Rs1.50 trillion wealth unearthed from chambers of the famed Sree Padmanabhaswamy Temple in Kerala.

A bench of justices R. V. Raveendran and A. K. Patnaik felt that the massive wealth was perhaps at a “risk” in view of the widespread publicity given about it in the media.

The apex court took on record the affidavit filed by the state government and various other parties giving their suggestions for proper maintenance and upkeep of the temple.

Significantly, the Kerala government asserted that the entire wealth found at the shrine belonged exclusively to the Sree Padmanabhaswamy Temple and no body can lay claim on it.

The state government said that it has put in place a security apparatus with an additional director general of police-rank officer monitoring the situation through a 24-hour control room set up for the purpose. It was spending Rs1 crore on security measures every month.

Indian Bank to add 400 branches


Source :BS Reporter / Chennai July 14, 2011, 0:02 IST

Indian Bank plans to add 400 new branches this fiscal, 
adding to the existing network of 2,184 branches.

 It also has six overseas branches in Hong Kong, Singapore,
 South Korea, Sri Lanka and representative offices
 in China, Vietnam, Dubai and Malaysia.
On Monday, the bank's board gave its nod to convert its
 representative office in Vietnam into a branch.

“We are also looking at 14 destinations including Nigeria, 
Africa, Australia and parts of Europe,” said its CMD M Narendra.


 The bank is planning to invest around Rs 50 crore to upgrade its
 branches domestically, he said.
IOB's business grew 35 per cent during the year ended
 March 31, 2011, to Rs 2.59 lakh crore from Rs 1.91 lakh crore 
a year ago. Its net profit rose by 51.71 per cent to Rs 1,073 crore from Rs 707 crore.



According to IOB annual report, it sold 37 NPAs to Asset 
Reconstruction Companies from various regions, 
and these had a book outstanding of Rs 415.03 crore and were
 sold for Rs 265.02 crore.