MONEY & BANKING
FARM CREDIT
Rate war spills over to farm loans sector
THE rate war is on. Not just in home loans but in priority sector lending and farm loans in particular. The nationalised banks are competing with each other to offer a better rate to the farm sector. The Agriculture Development Branch (ADB) of ...
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FOREX
Rupee up 6 paise; securities buoyant
MUMBAI: The rupee on Wednesday closed 6 paise higher at 45.56/57 in its value against the dollar as compared to Tuesday's close of 45.6200. The domestic currency opened at 45.60/61, touched an intra-day low of 45.64/65 on RBI buying up ...
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INFORMATION TECHNOLOGY
Banks not equipped fully to handle online clearing
While some banks have not yet got the requisite hardware and software in place others feel that the third week of January is too early to do a live run.
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Federal Bank attains total connectivity
FEDERAL Bank has attained 100 per cent interconnectivity among all its branches. The Aluva-based bank is expected to be the first to attain this milestone among all the traditional banks in the country. Addressing a press conference at ...
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AGRICULTURAL INSTITUTIONS
Nabard aid for Pochampally weavers
THE National Bank for Agriculture and Rural Development (Nabard) has extended financial support for registering the products of the Pochampally Handloom Weavers Cooperative Society and Pochampally tie and dye Sarees Manufacturers' Association ...
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LIFE INSURANCE
Pravasi insurance counter at NIC
THIRUVANANTHAPURAM: The Labour Minister, Mr Babu Divakaran, on Tuesday inaugurated the agency counter set up by the divisional office of the National Insurance Company to vend the Bharatiya Bima Yojana policies to those going abroad for ...
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CREDIT RATING
Narmada Chematur paper upgraded
ICRA has upgraded the rating assigned to the Rs 25-crore commercial paper (CP) programme of Narmada Chematur Petrochemicals Ltd (NCPL) from `A1' to `A1+'. Although the revised rating indicates the highest safety, the relative degree of safety ...
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PRIVATE BANKS
Lord Krishna Bank opens two branches in National Capital Region
LORD Krishna Bank has announced the opening of two new branches in the National Capital Region, at Karol Bagh and Ghaziabad. With the launch of these two branches, the bank's national network has grown to 103, of which 12 are in the Delhi ...
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J&K Bank net up at Rs 110 crore
THE Jammu and Kashmir Bank Ltd (J&K Bank) has recorded a net profit of Rs 109.8 crore for the quarter, a rise of 23 per cent over the net of Rs 89.18 crore during the corresponding period in the last fiscal. The net profits for the nine months .
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PUBLIC SECTOR BANKS
Union Bank to sell life insurance products over the counter
The State-run bank will sell HDFC Standard Life's new product `Union Suraksha suited for the banking channel' through 750 of its branches to its savings account, current account and fixed account depositors. The bank targets to sell 50,000 ...
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Corpn Bank board meet
PEOPLE
T.R. Ramachandran to head Citibank cards unit
MUMBAI: Citigroup has promoted Mr T.R. Ramachandran, formerly Product and Marketing Director of Citibank's Cards business to head the division as Cards Business Manager in India with effect from January 1, 2004. This follows the ...
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Pankaj Razdan is new MD of Pru ICICI
PRUDENTIAL ICICI AMC announced the appointment of Mr Pankaj Razdan as Managing Director, subject to necessary approvals. According to a company press release, Mr Razdan is currently the Deputy CEO of the company and is replacing Mr Shailendra ...
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Cross Currency Rates
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