MONEY & BANKING
OVERSEAS BORROWINGS
Vijaya Bank to raise $50 m through ECBs
VIJAYA Bank has made its maiden foray into the external commercial borrowing (ECB) markets. The public sector bank has mandated Standard Chartered Bank to raise at least $50 million (around Rs 250 crore) with a greenshoe option of another $25 ...
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OUTSOURCING
When outsourcing can be dicey
Never pay cash to a sales agent who comes selling a home loan or a credit card. The persuasive sales man may demand cash claiming it is for a processing fee but be sure to give only a crossed cheque." Such an instruction can be expected from ...
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INSIGHT
Fed may deliver upbeat assessment
AS usual, the market is riveted on the Federal Open Markets Committee (FOMC) meeting which by the time this prints would have ended in an interest rate announcement and the usual post-meeting statement. That the FOMC will hold rates is a ...
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FOREX
Rupee stable; gilts in narrow range
MUMBAI: The rupee moved in a tight range in its deals on Tuesday despite heavy dollar supplies. The domestic currency closed at 45.2400/2450 in its value against the dollar. "There were good supplies of the greenback in the market ...
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INFORMATION TECHNOLOGY
Dhanalakshmi Bank plans tech upgradation
DHANALAKSHMI Bank Ltd has chalked out ambitious plans for business expansion with the help of technology initiatives. The Thrissur-based bank has earmarked Rs 40 crore for implementing technology plans that include core banking solution in 60 ...
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LIFE INSURANCE
ICICI PruLife hikes capital
ICICI Prudential Life Insurance Company has hiked up its capital base by Rs 50 crore to Rs 675 crore. The additional capital will be used to meet capital adequacy norms as stipulated by regulator to fund the high upfront expenses and for ...
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e-mail alerts from Birla Sun Life
BIRLA Sun Life Insurance has introduced `e-mail alerts' as a facility for its policyholders. "Through our e-mail alerts, we have entered another channel of communication frequented by our customers. After enabling them to pay premium over the ...
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GENERAL INSURANCE
Reinsurance terms softening
Several East Asian reinsurance companies were in the markets offering far more competitive rates than traditional European reinsurers.
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CREDIT RATING
Lupin gets A1 rating for short-term debt programme
ICRA has assigned an `A1' rating to Lupin Ltd's Rs 40-crore short-term debt programme (including commercial paper). Indicating the highest safety in the short term, the rating takes into account Lupin's thrust on research and development (R&D), .
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FOREIGN DIRECT INVESTMENT
First off the block after FDI cap hike — Hindujas seek nod to hike holding in IndusInd
WITH the Union Cabinet permitting up to 74 per cent foreign direct investment (FDI) in the banking sector from January this year, the Hindujas are the first to take advantage, having approached the Government to increase FDI holding in IndusInd ...
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PRIVATE BANKS
ICICI Bank public issue a positive development: S&P
INTERNATIONAL rating agency, Standard & Poor's, has stated that ICICI Bank's proposed Rs 3,500 crore public issue will be a positive development. However, the rating of the bank is constrained by the country's foreign currency rating ...
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PEOPLE
New Treasury Head for Centurion Bank
CENTURION Bank has appointed Ms Tarini Vaidya as Treasury Head. Earlier, she was working with HSBC Software Development India, prior to which she was CEO of Belgium's KBC Bank in Mumbai. She replaces Mr P.P. Mendes, who still continues in the ...
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Jayakumar heads Citigroup consumer finance, Asia-Pacific
CITIGROUP has announced the appointment of Mr P.S. Jayakumar as Region Head for Asia-Pacific (Consumer Finance). Mr P.R. Seshadri, formerly in charge of Marketing - Consumer Loans, will now take over from Mr Jayakumar as Consumer Finance ...
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Cross Currency Rates
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