MONEY & BANKING
FINANCIAL SERVICES
Markets await Fed move, policy statement
The provocation to increase rates can come only from hard evidence of rising prices.
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AWARDS & HONOURS
Award for Dena Bank chief
NEW DELHI: Dr Anil K. Khandelwal, Chairman and Managing Director, Dena Bank, has been awarded at the 2004-World Women Summit for the bank's contribution in women empowerment and livelihood through innovative schemes. The bank has ...
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FOREX
Rupee down 3 paise; securities decline
MUMBAI: The rupee closed three paise weaker on Tuesday at 45.38/39 against the dollar. The domestic currency lost nearly 20 paise on Monday and closed at 45.3/36. Public sector banks, foreign and private sector banks were actively ...
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PRIVATE BANKS
IDBI Bank's expansion plans
CHENNAI: IDBI Bank intends to use the Rs 130 crore of Tier-II capital it raised through issue of bonds to power its expansion plans. The bank will focus on expanding its network in smaller towns, Mr J. Venkatramanan, Regional Head - ...
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J&K Bank pays 100 pc
NEW DELHI: Jammu & Kashmir Bank Ltd has declared total dividend of 100 per cent for the year ended March 31, 2004. This is inclusive of the interim dividend of 50 per cent announced in February this year. This was announced by the ...
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PUBLIC SECTOR BANKS
UCO Bank to diversify into risk hedging
UCO Bank proposes to diversify into risk hedging through interest rate swaps, options and futures, both in foreign currencies and rupees, according to the Chairman-cum-Managing Director, Mr V.P. Shetty. Addressing shareholders here on Tuesday ...
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Vijaya Bank joins RTGS grid
BANGALORE: Vijaya Bank has gone live with real time gross settlement (RTGS) that enables instant transfer of funds between banks and institutions. The bank was able to put through 21 inter-bank tranactions on its maiden run. While ...
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FOREIGN BANKS
Deutsche Bank net up 60 pc
DEUTSCHE Bank has posted a 60 per cent jump in net profit for the year ended March 2004 to Rs 272.6 crore up from Rs 170.6 crore in the previous year. Total income of the bank increased 31 per cent to Rs 905.6 crore (Rs 692.8 crore) mostly on ...
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INTEREST RATES
Retail loan rates may not fall
`There is not much scope for reduction of retail lending rates in the near term of about three to six months'.
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GOVT BONDS
G-secs auction
THE Government of India has announced the sale (re-issue) of 7.38 per cent Government stock 2015 for a notified amount of Rs 6,000 crore and 6.13 per cent Government stock 2028 for a notified amount of Rs 3,000 crore. The auctions will be ...
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Cross Currency Rates
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