MONEY & BANKING
FOREX
Rupee moves up; bonds weaker
MUMBAI: The domestic currency closed stronger at 45.24 against the dollar on Monday as against its closing at 45.27 last Friday. Dealers said the market was flush with dollar liquidity due to which the rupee continued to be buoyed to ...
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HOUSING FINANCE
LIC Housing Fin gets tough with defaulters
LIC Housing Finance Ltd has initiated action against the housing loan defaulters under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SRFAESA), a news release from the company said. ...
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LIFE INSURANCE
LIC collects Rs 2,021 cr from pension, group schemes
LIFE Insurance Corporation of India (LIC) has mopped up a premium income of Rs 2,021.32 crore under its pension and group schemes portfolio, as on January 31, 2004. With this, LIC has exceeded its targeted premium in this category of Rs 1,830 ...
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PRIVATE BANKS
ICICI Bank plans fresh equity issue
THE board of directors of ICICI Bank will meet on Tuesday to discuss raising fresh equity capital, the bank informed the Bombay Stock Exchange today. While ICICI Bank officials declined to give details of the proposed equity issue pending a ...
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Complaint against IDBI Bank
IDBI Bank Ltd has informed the Bombay Stock Exchange (BSE) that Mr J.H. Shah, a shareholder, has filed an appeal with the Securities Appellate Tribunal (SAT) alleging violations of SEBI Act, Rules, etc., by the bank and others with respect to ...
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PUBLIC SECTOR BANKS
SBI launches floating ATM
RATHER than expecting the customer to go in search of the automated teller machine (ATM), State Bank of India has in an innovative move introduced the first floating ATM in India, probably in the world, at Kochi today. Inaugurating the ATM on ...
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IOB extension counter at old Gajuwaka
CREDIT MARKET
IBA drafts revamp plan for tea sector loans
THE Indian Banks' Association has advised banks that with respect to advances made to the tea industry, they should consider converting existing rupee loans into foreign currency denominated funding. In the relief package for the tea-sector ...
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`Banks need to develop skills to spot investment opportunities'
FORMER Revenue Secretary, Mr M.R. Sivaraman, has lamented that he had to personally intervene on behalf of a company to get loan from a bank. The company was strong and the purpose for the borrowing was sound, yet the bank demanded personal ...
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TRADE & LABOUR UNIONS
Bank staff protest begins today
BANK employees agitation programme, which is to culminate in a one-day countrywide strike on February 24 (to protest against the Government's anti-labour policies and oppose the Supreme Court's verdict on the right to strike), begins ...
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PEOPLE
Damodaran stays favourite for full-time CMD of IDBI
THE Chairman of Unit Trust of India (UTI), Mr M. Damodaran, continues to be the Government's favourite to be ultimately appointed the full-time Chairman and Managing Director of the Industrial Development Bank of India (IDBI). Mr Damodaran, who ...
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TRENDS
India Post seeks to tap float funds — Finance Ministry nod for money market operations awaited
INDIA Post has become market savvy and proposes to increase its earnings by deploying float funds to reduce dependence on Government support. Sources said that the Postal Department has approached the Union Ministry of Finance for clearance ...
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Cross Currency Rates
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