MONEY & BANKING
FINANCIAL SERVICES
ECGC identifies `factoring' as key business growth area
EXPORT Credit Guarantee Corporation of India Ltd (ECGC), now beefed up with a higher equity base, has identified "factoring" (almost like invoice discounting) services as a key future business growth area for the organisation. Labelled as ...
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INSIGHT
Sponging out the liquidity
As the forex inflows have remained unabated, bank's stocks of securities are getting exhausted leading to a concern about the possibility of sterilisation of inflows of foreign money. The transfer of government and public sector deposits in commercia l banks to the RBI, which has the same effect as the raising of the cash reserve ratio in absorbing liquidity in the system, can be made in phases, depending on conditions of liquidity, says
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Banks have much to do if winning streak is to continue
Multiple dimensions of the reform model have improved the lot of banks. But achievement of competitive advantage requires continued accent on efficiency, productivity and profitability and up-scaling of technological upgradation on a much larger canv as.
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FOREX
Rupee down 5 paise; securities decline
MUMBAI: As the dollar gained strength in the global markets, the rupee fell against the greenback by about 5 paise to close on Monday at 45.30. The rupee on Monday opened at 45.28/29 with the intra-day high being 45.27. There was ...
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LIFE INSURANCE
`Insurance investment laws need re-look'
THE laws that dictate the ways in which insurance companies can invest need another look if the policyholder's interest has to improve in the wake of changes in the capital market, said Mr C.S. Rao, Chairman, Insurance Regulatory and Development ...
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PRIVATE BANKS
SIB ties up with Dubai exchange house
THE Thrissur-based South Indian Bank has entered into a tie-up with Wall Street Exchange Centre, LLC, an established exchange house in Dubai, for commencement of rupee drawing arrangements. This move is expected to hasten clearance of demand ...
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City Union Bank keen to maintain identity
KUMBAKONAM-BASED City Union Bank is intent on maintaining its identity. Its Chairman, Mr V. Narayanan, has categorically stated that the bank was neither looking for acquisition nor was being acquired. He told Business Line, "Be it an ...
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PUBLIC SECTOR BANKS
United Bank to sell Tata AIG products
UNITED Bank of India plans to increase its focus on the rural segment of its business in the near future. Towards this end, the bank has entered into a bancassuarnce tie-up for the distribution of the products of Tata AIG Life Insurance ...
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GOVT BONDS
2019 paper auction on Feb 26
THE Government of India has announced the price-based auction of Rs 5,000-crore 5.64 per cent 2019 paper on February 26. Up to five per cent of the notified amount of the sale of the stock will be allotted to eligible individuals and ...
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CREDIT MARKET
Poverty can be good business
To most decision-makers in the banking sector, this may come as a bizarre suggestion. But a group of people is quietly working to "change this mindset" by proposing alternative models to convince bankers that profits can be reaped from banking ...
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Market stabilisation bonds for up to Rs 60,000 cr proposed
THE RBI has proposed to the Government of India to authorise issuance of existing debt instruments such as treasury bills and dated securities under the Market Stabilization Scheme. For the present, the total outstanding obligations of the ...
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CREDIT CARDS & DEBIT CARDS
StanChart launches EMI credit card
TO further the retail revolution, Standard Chartered Bank on Monday introduced an EMI credit card. The card provides customers a `hassle-free' payment schedule by automatically converting all purchases into 24 EMIs (equated monthly instalments). ...
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Cross Currency Rates
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