MONEY & BANKING
FOREX
Forwards move into premium; gilts decline
MUMBAI: The rupee closed four paise stronger on Wednesday at 45.38/39 against Tuesday's close of 45.42/43. The Reserve Bank of India was in the watchdog mode, supporting the rupee at 45.39/41 levels. On account of the New York markets ...
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INSURANCE
Panel submits report on insurance law changes
THE Law Commission Chairman, Justice M. J. Rao, presented the report on revision of insurance laws to the Law Minister, Mr H. R. Bharadwaj. The Report incorporates an amalgamation of the Insurance Act, 1938 and the Insurance Regulatory and ...
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STOCKS
PSU bank stocks back in limelight
PUBLIC Sector bank stocks hogged the limelight on sustained value-based buying on the bourses on Wednesday. While dealers termed it as more of a technical bounce back, there is a perception that at these levels the stocks are attractively valued. ...
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SOFTWARE
Finacle wins award
HOUSING FINANCE
Corpn Bank cuts home loan rates
CORPORATION Bank has reduced interest rate on its housing loan product - CorpHome - by 25 basis points with effect from June 1. A bank release said here on Wednesday that the bank has slashed interest rate by 0.25 per cent for housing ...
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CONSUMER FINANCE
Andhra Bank ties up with Mahindra Tractors
ANDHRA Bank has announced that it has joined hands with Mahindra Tractors for financing the distribution of tractors through the bank branches across the country. In a press release issued on Wedneday, the bank said under the agreement , the ...
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LIFE INSURANCE
AMP Sanmar launches three new products
AMP Sanmar Life Insurance Company Ltd has launched three new customised term assurance products: Vani Shree, Vani Shree Plus and Raksha Shree Plus. According to Mr Graham Meyer, Managing Director, AMP Sanmar, Vani Shree and Vani Shree Plus are ...
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PUBLIC SECTOR BANKS
Coimbatore SBI's guide role
TIRUPUR: Not content with just extending financial support to needy students, the Coimbatore Module of the State Bank of India (SBI) decided to extend guidance support as well, to enable students pick the right course. The bank has ...
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NON-PERFORMING ASSETS
Court receiver takes control of Mardia properties — ICICI Bank hopeful of sale despite DRT stay
Even the sale of the entire factory, equipment and property will only help recover the principal amount of Rs 800 crore, which the company owes to several banks and FIs. The remaining interest component will have to be forgone.
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CREDIT MARKET
SBI trade finance cells launched in Kerala
STATE Bank of India (SBI) on Wednesday said it had launched trade finance and personal loan cells in the State aimed at offering specialised services to traders and other customers. The trade finance cells would provide exclusive services to ...
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MERGERS & ACQUISITIONS
Change in IFCI-PNB merger plan ruled out
THE change of Government at the Centre would not lead to any alteration of plans for the merger of IFCI Ltd with Punjab National Bank (PNB). Top Government official said that the merger plans would go on as usual, even as the IFCI Board of ...
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Cross Currency Rates
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