MONEY & BANKING
FOREX
Rupee sheds 11 paise; gilts up
MUMBAI: The rupee on Friday lost 11 paise to end at 45.695/705 compared with Thursday's close of of 45.59/60 in its value against the dollar. The rupee opened at 45.58/59 and remained at those levels for most of the day with ...
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NBFCS
They're no country cousins of commercial banks
Do NBFCs need a level-playing field, asks T. C. A. Ramanujam
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GENERAL INSURANCE
VRS for general insurance staff
IN an attempt to rationalise the manpower existing in the four general insurance companies, of New India Assurance, National Insurance, United India Insurance and Oriental Insurance, the Government has announced a special Voluntary Retirement ...
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DERIVATIVES MARKETS
Trading in interest rate futures — RBI group moots 10 pc CAR
AN RBI group has proposed a capital adequacy ratio of 10 per cent and a minimum net worth of Rs 200 crore for a bank to start trading in interest rate futures. According to a release from the Reserve Bank of India (RBI), the group's report, ...
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PRIVATE BANKS
J&K Bank lowers PLR to 11 pc
THE Jammu & Kashmir Bank has announced reduction of prime lending rate (PLR) to 11 per cent effective from January 1, 2004 from the earlier 11.5 per cent while also slashing down interest rates on car loans by 200 basis points (bps). The interest
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PUBLIC SECTOR BANKS
`States interested in Syndicate Bank rural development plan'
SEVERAL State Governments have expressed interest in having a Syndicate Institute of Rural Development (SIRD), which promotes entrepreneurship in rural areas by tapping local skills and talent and extending necessary support, according to Mr K.M. ...
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GOVT BONDS
Govt raises money from RBI to pay foreign debt
THE Union Government on Friday raised Rs 9,500 crore by privately placing two dated securities with the Reserve Bank of India to pay off foreign debt. The Government issued `Government stock 2008' at 4.69 per cent interest rate and ...
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NEW PRODUCTS & SERVICES
BoB Mutual lines up schemes with cover
BOB Mutual Fund has lined up a clutch of schemes, all of them offering insurance benefits to investors. The fund, sponsored by Bank of Baroda, has readied offer documents for what it has named BOB Children Fund, BOB NRI Fund and BOB Monthly ...
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Cross Currency Rates
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