MONEY & BANKING
FARM CREDIT
IBA cheers tea sector with revival package
THE Indian Banks' Association (IBA) is ready with the revival package for the tea industry as asked by the Union Finance Minister in his interim Budget. For the large tea producers, IBA has made seven suggestions, the foremost of which is ...
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FINANCIAL SERVICES
CBLO volumes top Rs 1,000 cr
VOLUMES under the CBLO (collateralised borrowing and lending obligation), a facility offered by Clearing Corporation of India Ltd for banks and institutions to utilise their excess cash and securities — has crossed Rs 1,000 crore .on ...
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INSIGHT
Why the dollar should fall
THE declining fortunes of the dollar is becoming a global concern. The US is earning less from exports than it needs to pay for her imports. The US trade- and budgets-deficits are increasing. The dollar has been falling ...
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Greenspanspeak unlikely to change
IT will be Alan Greenspan's day yet again. On Wednesday, the Chairman of the US Federal Reserve will testify to the US Congress on the state of the US economy, monetary policy and interest rates. As usual, what he says (or does not say) will move ...
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FOREX
Rupee steady; bonds listless
MUMBAI: The rupee closed steady at 45.25/2550 per dollar on Tuesday, as against Monday's close at 45.24, in a subdued forex market on Tuesday. Dealers said dollar supplies remained almost evenly matched with the demand from State-run ...
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INSURANCE
Royal Sundaram records Rs 187-cr premium income
ROYAL Sundaram Alliance Insurance Company Ltd has recorded premium income of Rs 187 crore, with a Rs 5-crore profit during the first nine months of the current financial year, ended 31 December 2003. The company aims to achieve a target of Rs ...
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STOCKS
Bank stocks in limelight
ON a day when stock market remained almost flat, stocks from the banking sector remained in the limelight mainly on the back of a strong economic growth in the current fiscal and upgradation of banks' foreign currency deposits rating to `stable' ...
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LIFE INSURANCE
United Bank to vend Tata AIG life products
UNITED Bank of India (UBI) is to go for bankassurance shortly and has accordingly tied up with Tata AIG. "We will sell select life insurance products of Tata AIG through our identified branches", Mr Madhukar, CMD of UBI, told Business Line ...
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AMP Sanmar raises capital by Rs 35 cr
THE Chennai-based AMP Sanmar Life Insurance Co Ltd has announced additional infusion of Rs 35 crore to its existing capital of Rs 125 crore. The additional capital matches the current shareholding of the joint venture partners - 74 per cent ...
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DEBT MARKET
18 States to raise Rs 4,300 cr
EIGHTEEN State Governments have offered to sell the 5.85-per cent State Development Loan 2015, having a maturity of eleven years, aggregating about Rs 4,300 crore on February 19, by way of a tap sale. Of this, Chhattisgarh, Karnataka, Kerala, ...
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RBI & OTHER CENTRAL BANKS
RBI panel to study agricultural lending
RESERVE Bank of India has constituted a committee on the flow of credit to agriculture, which will asses the progress made in implementation of the recommendations of the Expert Committee on Rural Credit (Vyas Committee) appointed by Nabard in ...
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PRIVATE BANKS
ICICI Bank plans equity issue for Rs 3,500 cr
THE country's second largest commercial bank, ICICI Bank, today said it planned to issue new equity of about Rs 3,000 crore - Rs 3,500 crore to the Indian public. The board of directors of the bank has cleared the blockbuster equity issue and ...
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Kotak Mahindra to add realty, gold to advisory portfolio
THE Kota Mahindra group would soon be adding real estate and gold to its advisory portfolio, that is currently limited to equities and non-equity fixed income options such as deposits, mutual funds and pension instruments. With this, the ...
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IndusInd Bank eyeing more acquisitions — Tie-up with IBM for on-demand infrastructure
CLOSE on the heels of its acquisition of Ashok Leyland Finance Company, the private sector IndusInd Bank, is scouting for more acquisitions, according to Mr Bhaskar Ghose, Managing Director, IndusInd. ``We are open to acquisitions and will look ...
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ICICI Bank opens ATM
PUBLIC SECTOR BANKS
State Bank of Mysore to have 35 more ATMs
STATE Bank of Mysore plans to install 35 new automated teller machines (ATM) by March-end to take up its ATM network to 100, a bank statement said. The bank has achieved 100 per cent computerisation of its 622 branches, the statement added. ...
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Corpn Bank branches opened
Cross Currency Rates
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