MONEY & BANKING
INSIGHT
Banker-borrower relationship — Why the 90-day norm is important
"A DEBT not asked is lost," is a universal saying. Banks ought to know it better than the others. But that was not the case with Indian public sector banks (PSBs) in the first two decades of ...
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IIMs, IDFC: Power and autonomy contrasted
The IIMs and Infrastructure Development Finance Corporation provide two cases for understanding the significance of power and autonomy and their exercise by leaders. While the Government has asserted its commitment to preserving the private-sector ch aracteristics of IDFC, it has not been forced to preserve and promote the autonomy of the IIMs, says G. Ramachandran.
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FOREX
Rupee volatile; bonds rise
MUMBAI: The rupee ended mildly lower against the dollar on Monday on light corporate dollar demand after testing early highs in volatile two-way trade at the inter-bank foreign exchange market. The domestic currency closed at 43.64/65 ...
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STOCKS
Bank of Maharashtra lists at premium
BANK of Maharashtra made a successful debut on the bourses on Monday by listing at a premium of over 71 per cent. The stock opened at Rs 34.10 on the NSE, touched a high of Rs 44.90 and a low of Rs 33.25 before closing at Rs 39.35, a premium of ...
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HOUSING FINANCE
Can Fin Homes' new rate structure
BANGALORE: Can Fin Homes has introduced a new interest rate structure which will be applicable for all loans sanctioned from April 1. The interest calculation is on daily reducing balance basis. The new fixed rates are 7.5 per cent for ...
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LIFE INSURANCE
LIC can go ahead with operational revamp — `Only those needing Act changes have to wait for Govt nod'
THE restructuring of the working of LIC based on the Deloitte report could happen earlier than expected. The Government has said that LIC need not wait for its green signal to implement those recommendations in the restructuring report that do ...
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PRIVATE BANKS
Merger to boost IndusInd retail biz
INDUSIND Bank expects its retail loan portfolio to grow by Rs 3,000 crore in 2004-05 following the merger of Ashok Leyland Finance Ltd with the bank, Mr Bhaskar Ghose, Managing Director and CEO, said on Monday. Addressing a press conference on ...
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PUBLIC SECTOR BANKS
SBT tractor loan scheme
THIRUVANANTHAPURAM: The State Bank of Travancore has launched a special loan scheme for the purchase of tractors. Called the `tractor special loan scheme', the initiative is targeted at farmers, non-governmental organisations, ...
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FIXED DEPOSITS
Allahabad Bank raises FCNR deposit rates
ALLAHABAD Bank revised upward the interest rates on Foreign Currency Non-Resident (FCNR) deposits with effect from April 5, according to a press release issued by the bank. The revised rates for US$ are 1.25 per cent (earlier 1.14 per cent) for ...
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CO-OPERATIVES
Prudential Coop Bank assn plea
HYDERABAD: The Prudential Cooperative Bank Shareholders and Depositors Welfare Association has appealed to the Chief Secretary of Andhra Pradesh, Mr Mohan Kanda, to take steps for the revival of the bank and ensure repayment of deposits ...
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Cross Currency Rates
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