MONEY & BANKING
FOREX
Rupee holds steady; bond prices crash
The domestic currency has held at the 45.25 level over the past few days on the back of constant intervention by the central bank, according to currency dealers. On Wednesday, it opened at 45.24/25 and touched an intra-day low of 45.27. In the ...
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INFORMATION TECHNOLOGY
DCB ties up with Euronet for ATMs
DEVELOPMENT Credit Bank (DCB) has entered a strategic alliance with Euronet for managing its 64 ATM network across the country. Further, DCB would connect to Cashnet, Euronet's shared ATM network that operates 2,500 ATMs spread across 200 cities. ...
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INSURANCE
RBI terms for NBFCs insurance agency biz
THE Reserve Bank of India today announced that non-banking finance companies (NBFCs) registered with it might take up insurance agency business on a fee basis and without risk participation, without its approval. However, the permission comes ...
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LIFE INSURANCE
MetLife launches group insurance
METLIFE India Private Limited, launched its group insurance policy aimed at domestic and transnational companies located in the country. Speaking to reporters here on Wednesday Mr Tim Mitchell, Vice President, Sales and Marketing of MetLife ...
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Oriental Insurance launches non-life schemes in Mangalore
ORIENTAL Insurance Company Ltd, which has entered into an agreement with the Department of Posts for distributing non-life insurance products through post offices, launched some of its products in Mangalore on Wednesday. Speaking on the ...
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GENERAL INSURANCE
PSU insurers may go for branch-swapping
This exercise is on the lines of the public sector banks, which had merged some of their zonal and regional offices. The branch swapping would also allow some of the companies to have a presence in areas where they have none.
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PRIVATE BANKS
Fallout of broking firms' downgrade — ICICI Bank share price moves down 8 pc
A DAY after ICICI Bank announced its Rs 3,500-crore equity issue to the Indian public, its share price today plunged by about 8 per cent on both the BSE and NSE. The shares, which had increased by around four per cent yesterday, immediately ...
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INTEREST RATES
MF investments point to hardening interest rates
PEOPLE who invest largely in company and bank fixed deposits may be in for a pleasant surprise as recent changes in bond investments by some mutual funds signal the chance of a rise in interest rates. Funds such as Franklin Templeton and Birla ...
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CREDIT MARKET
Private banks ahead of PSBs in advances
EVEN as credit growth is showing signs of picking up, private sector banks are continuing to register larger growth in advances compared to public sector banks. During the period between March and December 2003, private sector banks recorded ...
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Syndicate Bank's advances up on infrastructure lending
SYNDICATE Bank's advances increased 22 per cent (or by Rs 2,800 crore), in the first three quarters of the current year, mainly because of its lendings to the infrastructure sector, the bank's Executive Director, Mr K.M. Shet, said today. The ...
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EVENTS
Corpn Bank staff conference
MANGALORE: The Corporation Bank Employees' Union will organise its golden jubilee conference here from February 14 to 16. Mr C.H. Venkatachalam, Secretary of All-India Bank Employees' Association (AIBEA), will inaugurate the conference. Mr ...
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IPOS
No exposure cap for bank advances for ESOP, IPO
BANK advances to its employees for subscribing to its own ESOP or IPOs will be exempted from its overall exposure limit to the capital market. The Reserve Bank of India has stated that while extending bank finance to employees for purchasing ...
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PEOPLE
New State Bank DMDs
The new DMDs are: Mr T.S. Bhattacharya, CGM, Product Development and Marketing, Mr M.M.Lateef, Managing Director, SBI Gilts, Mr Yogesh Agarwal, CGM, Chandigarh, Mr Krishnamurthy, CGM, Madras LHO and Mr R.Ramanathan, CGM, Technology and Mr Vijay ...
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Cross Currency Rates
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