Bank of Punjab net up 44%: The Bank of Punjab's net profit has increased by 44 per cent during 1997-98 from Rs 22.44 crore to Rs 32.35 crore. The bank has announced a 59 per cent rise in the profit before depreciation and taxation at Rs 50.76 crore during 1997-98, compared with Rs 31.92 crore in the previous fiscal. The bank has recommended a final dividend of 14 per cent.

IndusInd Bank board meet: The board of IndusInd Bank is meeting on May 14, 1998, in Mumbai to consider the annual audited annual of the bank for the year ended on March 31, 1998.

Four-day fixed-rate repo: The RBI acceptedall the bids worth Rs 7,420 crore during the 6 per cent four-day fixed-rate repo auction held on Monday.

HDFC Bank to open off-site ATMs: The HDFC Bank is planning to install off-site ATMs soon. Recently, the bank opened one of its branch in Baroda. Inaugurating the branch, managing director Aditya Puri said the bank now has 37 branches across 11 cities in the country. The bank has a single computerised network for its all branches and ATMs. A customer has to maintain a quarterly balance of Rs 5,000 which can be waived off if he has a fixed deposit of Rs 25,000 with the bank.

Centre's recourse to WMA declines: The central government's recourse to ways and means advances from the RBI has declined to Rs 9,411 crore as on April 17, as against Rs 10,463 crore as on April 10. The government's recourse to WMA is expected to fall further in the coming weeks.

Deputy director of enforcement transferred: In a sudden move, deputy director of enforcement Prabhat Kumar has been transferred toAhmedabad. Kumar, who has served as the deputy director in Mumbai for nearly three years, on Monday handed over charge to DD Gupta, who was earlier in Ahmedabad.