MONEY & BANKING
FINANCIAL SERVICES
ECGC to diversify product range
THE Export Credit Guarantee Corporation of India may diversify into insurance lines that complement its primary business of export credit insurance following increased competition from the private sector. Mr P.M.A. Hakeem, Chairman and Managing ...
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INSIGHT
Banking Industry Vision report 2010: Echoing the cost-control wisdom
As domestic and international competition hots up, banks may have to shift their focus to `cost', which will be determined by revenue minus profit. Cost-control in tandem with efficient use of resources and increase in productivity will determine the winners and laggards.
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FOREX
Rupee range-bound; g-secs decline
MUMBAI: The domestic currency closed at 45.4050 on Thursday, unchanged from Wednesday's closing levels at 45.40/4050 in a dull forex market. Dealers said the rupee remained range-bound between 45.3950 and 45.41 on lack of any ...
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FINANCIAL PERFORMANCE
Vijaya Bank Q3 net up despite lower income
VIJAYA Bank has reported a net profit of Rs 110 crore for the third quarter of this fiscal, up from Rs 95.89 crore in the second quarter. The improved net profit comes despite the reduced earnings; total income of the bank fell to Rs 627.30 ...
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SOFTWARE
Indian Bank implementing Kesdee training software
KESDEE Inc is now in the Indian market, vending its `e-Learning and Reference Solutions' software that is useful for training personnel in the financial sector. The Indian Bank has bought a customised version of it. The Reserve Bank of India is ...
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LIFE INSURANCE
OM Kotak says unit-linked plans are doing well
THE unit-linked insurance plan of OM Kotak Mahindra Insurance Company, launched in May last year, has become a major success among investors. According to Mr Subhasis Ghosh, Associate VP & Regional Head (East), the policy, called Kotak Safe ...
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GENERAL INSURANCE
Antony Jacob elevated as Royal Sundaram MD
MR Antony Jacob, 43, Deputy Managing Director, Royal Sundaram Alliance Insurance Company, has been elevated as Managing Director with effect from April 1, 2004. He will be taking over from Mr Micky Brigg, who will now be Royal & Sun ...
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PRIVATE BANKS
LKB goes for brand makeover with new logo
LORD Krishna Bank is in for a major brand makeover with the adoption of a new blue and orange colour logo with LKB branding in modern italic fonts, meant to reinforce its new image as a modern, technology driven and consumer friendly bank. The ...
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PUBLIC SECTOR BANKS
UCO Bank plans Malaysia foray
UCO Bank has proposed to tap opportunities emerging in South-East Asia, beginning with an entry into the Malaysian market. The Kolkata-based bank will initially leverage its Singapore operations, which cater to clients doing business in ...
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Corporation Bank links ATMs to Cashnet
CORPORATION Bank has linked all its 590 automatic teller machines to Cashnet, which is operated by Euronet Services India Private Ltd. Speaking to newspersons here on Thursday after signing the agreement with Euronet, the Corporation Bank ...
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Indian Bank to vend ECGC risk products
INDIAN Bank on Thursday signed an agreement with Export Credit Guarantee Corporation of India to distribute the latter's credit insurance packages for exporters. ECGC's agreement with Indian Bank is its sixth such deal to use the banking ...
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Vijaya Bank adopts new dividend policy
VIJAYA Bank has reduced its PLR to 11 per cent from 11.5 per cent. It also announced a new dividend payout policy, which ensures a minimum payout ratio of 25 per cent of the bank's net annual distributable profits (net profit as reduced by ...
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FINANCIAL INSTITUTIONS
Damodaran set to head IDBI
THE Government is understood to have cleared the appointment of the UTI Chairman, Mr M. Damodaran, as the next Chairman of the Industrial Development Bank of India (IDBI). A notification formalising the appointment is to be issued shortly. An ...
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CREDIT MARKET
IOB to organise credit mela in Vizag
CREDIT CARDS & DEBIT CARDS
HDFC Bank credit card launch
VISAKHAPATNAM: HDFC Bank is launching its credit card here on Friday. Available in two options, silver and gold, the bank credit card has been launched in 20 cities, Vizag being the 21st, according to a press release. Mr Neeraj Swaroop, ...
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Cross Currency Rates
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