MONEY & BANKING
FINANCIAL SERVICES
Professional model mooted for financial planners
THE country's financial planning establishment is urging the Government to allow only qualified planners to practise in the country. The Association of Financial Planners (AFP), in a meeting with the Ministry of Finance held recently, has ...
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FOREX
Rupee volatile; forwards firmer
MUMBAI: The rupee gained 7 paise against the greenback on Friday to close at 45.83/84. On Thursday, the domestic currency closed at 45.90/92. Heavy buying of the greenbacks by banks across the board took the rupee down to an intra-day ...
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HOUSING FINANCE
`Hike in home loan rates unlikely for now'
THE Chairman and Managing Director of Corporation Bank, Mr Cherian Varghese, does not see any immediate rise in housing loan interest rates. He was addressing presspersons after attending the seventh annual general meeting of the bank's ...
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GENERAL INSURANCE
Tata AIG ready to hike capital
TATA AIG General Insurance Company has indicated that it was prepared to increase its capital further to sustain business growth. Addressing a press conference here today, Mr Dalip Verma, Managing Director of Tata AIG, said, "Presently, our ...
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DEBT MARKET
Higher inflation sends bond prices crashing
BOND prices crashed by up to Rs 2 across most maturities as fears of rising interest rates were compounded by the unexpectedly high inflation rate of 5.89 per cent reported on Friday. This triggered a panic-driven sell off with most market ...
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PRIVATE BANKS
Lord Krishna Bank ties up with Doha exchange firm
LORD Krishna Bank has announced that it has tied up with Arabian Exchange Company in Doha, to facilitate remittances from Qatar to all its branches in India. This will enable expatriate Indians in Qatar to remit money back home quickly and at ...
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Tamilnad Mercantile Bank: Correction
PUBLIC SECTOR BANKS
Syndicate Bank pays 10% final
THE Chairman and Managing Director of Syndicate Bank, Mr Michael Bastian, on Friday handed over a final dividend warrant for Rs 34.69 crore to the Union Finance Minister, Mr P. Chidambaram. The bank had declared a final dividend of 10 per cent ...
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FOREIGN BANKS
Award for Deutsche Bank
MUMBAI: Deutsche Bank has been named "Best Foreign Investment Bank in India" in the annual FinanceAsia Magazine awards announced in Hong Kong. This award, said the bank in a press release, comes as a result of significant investment by ...
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CORPORATE BONDS
Corporate bonds losing sheen
DEMAND for corporate bonds is languishing with few takers as most mutual funds, banks and bond houses are showing little interest in them. Mutual funds are said to have sold Rs 500-600 crore worth of bonds in the bearish market over the last ...
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NON-PERFORMING ASSETS
Fewer defaults on farm loans: Cherian Varghese
THE Corporation Bank CMD, Mr Cherian Varghese, was all praise for farmers during a press conference here on Friday. Terming agriculture lending a good business for bankers, Mr Varghese said that the Indian farmers' repayment ethos is much better ...
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Cross Currency Rates
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