MONEY & BANKING
FINANCIAL SERVICES
Financial planners body seeks recognition
FOR most of us who file our tax returns and frequently need to make decisions on investments, there usually exists a trusted "financial consultant" who eases our way through paper-work and fine-print. And, it is doubtful whether any of us ...
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REGIONAL RURAL BANKS
Amalgamation of RRBs demanded
THE All-India Regional Rural Bank Employees' Association (AIRRBEA) has urged the Government to approve the recommendations of the Bankers Committee and amalgamate the RRBs to form six zonal rural banks in the country. Addressing newspersons ...
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INSIGHT
Market overpricing Fed tightening?
INFLATION worries are back on the front pages of financial papers and market commentaries. We seem to have touched the bottom of the inflation cycle, both globally and in India. US inflation, excluding the components of fluctuating food and ...
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FOREX
Rupee up 2 paise; gilts range-bound
MUMBAI: The rupee closed two paise higher on Tuesday at 45.02/03 against the dollar, up from Monday's close of 45.0425/05. The high observed during the day was 45.0150 and the low was 45.1350 against the greenback. There were some ...
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LIFE INSURANCE
Birla Sun Life offers plan to cover retail borrowings
BIRLA Sun Life on Tuesday launched Credit Guard plan to capitalise on the growing retail-lending sector and the need to hedge risk factor of all parties involved including the lender and the borrower. Mr Peter Akers, COO, Birla Sun Life ...
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CREDIT RATING
Global Trade Fin issue gets `P1+'
MUMBAI: Crisil has assigned `P1+' rating to Global Trade Finance Pvt Ltd for their short-term debt programme of Rs 350 crore. Global Trade Finance is a joint venture company of WestLB AG (40 per cent), Exim Bank (35 per cent) and ...
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PUBLIC SECTOR BANKS
Core sector lending to help SBI post 18-pc growth: Purwar
STATE Bank of India (SBI) expects to grow its income in the current fiscal by 18-19 per cent buoyed by heavy infrastructure lending and financing service sector as well as farm credit, the Chairman and Managing Director, Mr A.K. Purwar, said. ...
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SBI fair does Rs 286-cr biz
CHENNAI: The State Bank of India's four-day property fair-cum-loan shoppe held recently here generated business worth Rs 285.76 crore. The bank introduced a one-stop shop for all requirements — housing, car and educational loans, ...
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FOREIGN BANKS
ABN Amro looks forward to `subsidiary' status
ABN Amro sees 30 per cent growth in profits and assets in India in the current fiscal. The bank, with a balance sheet size of Rs 10,000 crore, has loans worth Rs 6,500 crore, of which 50 per cent is retail and the rest wholesale. "Retail has ...
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CREDIT CARDS & DEBIT CARDS
IDBI Bank unveils multi-currency travel card
IDBI Bank has launched a multi-currency prepaid travel card in association with Visa International, especially suited for corporate executives travelling abroad. ``WorldCurrency'' cards are available over-the-counter and accepted for cash ...
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TRADE & LABOUR UNIONS
IFCI staff threaten stir over merger
THE employees' unions of IFCI Ltd has threatened to go on agitation if the Government presses ahead with the merger of the institution with Punjab National Bank (PNB). "If this proposed merger of IFCI with PNB, which is without the concurrence ...
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CO-OPERATIVES
South Canara Co-op bank plans `anywhere banking'
THE South Canara District Central Co-operative (SCDCC) Bank Ltd is planning to implement "anywhere banking" facility in its 49 branches in Dakshina Kannada and Udupi districts. The bank has also set up an Rs 1-crore fund to computerise ...
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Cross Currency Rates
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