MONEY & BANKING
FARM CREDIT
Tea industry seeks term loans from banks
THE tea industry has reiterated its demand to banks to extend financial assistance in the form of a special tea term loan into which current and overdue loans of the industry can be transferred and rescheduled. The term loan will be akin to that ...
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REGIONAL RURAL BANKS
Rural banks move RBI for `regular' status
THE National Federation of Agriculture and Rural Development Banks has written to the Reserve Bank of India asking for a conversion of ARDBs into full-fledged banks. The conversion is expected to help ARDBs who are now totally dependent on ...
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FOREX
Rupee holds steady; gilts volatile
MUMBAI: The rupee closed at 45.42/43 per dollar on Friday, similar to Thursday's closing level at 45.43/44. Dealers said the market was fairly range-bound with the rupee touching an intra-day low of 45.47 on the back of some corporate ...
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FINANCIAL PERFORMANCE
HDFC third quarter net rises 25 per cent
HOUSING Development Finance Corporation (HDFC) has reported a 24.65 per cent increase in its net profit at Rs 182.81 crore for the third quarter of 2003-04 against Rs 146.65 crore in the year-ago period. "We have restructured our liabilities ...
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SOFTWARE
Finacle solution for Karnataka Bank
HOUSING FINANCE
Birla Home Finance cuts rates
PUBLIC SECTOR BANKS
SBI opens drive-in ATM
THE State Bank of India Chairman, Mr A.K. Purwar, on Friday unveiled the country's first drive-in ATM facility at its head office here. With this facility, customers would not have to face the agonising wait for finding parking space or the ...
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Canara Bank to tap ECB market again
CANARA Bank has made a second foray into the foreign currency market to take advantage of the low cost of funds and cheap forward premiums. Sources said that the bank floated a mandate for raising $50 million along with the option of retaining ...
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FOREIGN BANKS
'Foreign banks now have more choices'
WITH the Union Cabinet having okayed FDI up to 74 per cent under the automatic route in private banks in India, there is a lack of parity between an Indian and a foreign promoter. While an Indian promoter's holding in a private bank is capped at ...
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FINANCIAL INSTITUTIONS
SIDBI announces VRS
THE Small Industries Development Bank of India (SIDBI) is offering a voluntary retirement scheme. The first VRS of SIDBI will open on January 19 and is expected to give a golden handshake to 100 employees. The rather `unexpected' VRS in SIDBI ...
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CORPORATE BONDS
IDBI comes up with Flexibonds 20
THE Industrial Development Bank of India (IDBI) is to tap the retail market through a public issue of IDBI Flexibonds 20 for Rs 400 crore with a greenshoe option to retain an additional Rs 400 crore. IDBI Flexibonds-20 rated `AA+ (rating watch ...
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Cross Currency Rates
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