MONEY & BANKING
INSIGHT
Welcome moves on foreign banks
HSBC has acquired around 13 per cent equity stake in UTI Bank. There is a possibility of HSBC acquiring majority stake in UTI Bank as UTI could be selling its stake in UTI Bank. If that happens, HSBC can run UTI Bank only if it (HSBC) closes ...
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FOREX
Rupee range-bound; securities volatile
MUMBAI: The rupee moved in a narrow range of a mere one and a half paise on Monday despite heavy dollar supplies. The domestic currency closed at 45.2350/2450 in its value against the dollar. It opened at 45.24550/2550 with the ...
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DEBT MARKET
Party time seems to be over for PDs — As longs turn illiquid, focus moves to corporate debt
THE party may well be over for primary dealers in debt securities. With the financial year nearing to an end, a number of them are bracing themselves to deal with a significant erosion in their portfolios, ranging anywhere between 15 per cent and ...
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RBI & OTHER CENTRAL BANKS
RBI to hold talks with banks on Basel-II
The central bank would look at a variety of approaches to implement Basel-II framework in a manner suitable to banks in the Indian regulatory environment.
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RBI nod for $473.21 m ECBs
THE Reserve Bank of India has in February given approvals to 39 companies to raise external commercial borrowings worth $473.21 million. The apex bank released the latest information relating to the ECBs under both automatic and approval routes ...
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PRIVATE BANKS
Federal Bank focuses on rural sector
PUBLIC SECTOR BANKS
SBT opens another ATM
FIXED DEPOSITS
Investors still prefer bank deposits, Govt savings schemes: Study
THE typical Indian investor is a creature of habits. Bad ones, if you go by the findings of a review by Cholamandalam Distribution Services (CDS), conducted to grasp the common man's attitude towards financial management. It has underlined ...
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MERGERS & ACQUISITIONS
Takeover of IFCI dues — PF investment norms may be eased for PNB
THE Government is set to relax the provident fund (PF) investment norms to allow Punjab National Bank (PNB) to take on the entire PF liabilities of IFCI Ltd. The exemption is likely to come as part of the scheme being prepared for the ...
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TRADE & LABOUR UNIONS
EC urged to tell poll candidates to declare bank dues
THE All India Bank Employees Association (AIBEA) has appealed to the Election Commission to issue a directive to the candidates contesting in the Lok Sabha elections to furnish details of their financial liabilities and dues to the ...
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ALLIANCES & JOINT VENTURES
SBI ties up with HMT for tractor finance
HMT Ltd has signed a memorandum of understanding with the State Bank of India (SBI) under which the bank will be the preferred financier for purchase of HMT tractors. Farmers utilising the finance scheme would be entitled to a reduction of ...
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CO-OPERATIVES
AP co-op banks seek Rs 100-cr crisis management fund
THE Federation of Andhra Pradesh Urban Co-operative Banks has urged the State Government to set up a Rs 100-crore "liquidity crisis management fund'' to enable the banks to get over financial difficulties. Mr G. Ramamurthy, Chairman of the ...
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Cross Currency Rates
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