MONEY & BANKING
OVERSEAS BORROWINGS
Allahabad Bank plans ADR/rights issue
ALLAHABAD Bank has proposed to revive Allbank Finance, a subsidiary that has been lying dormant for years. The company may take up miscellaneous non-fund based activities, including merchant banking, project appraisal and distribution of ...
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INSIGHT
IDBI's generosity
INDUSTRIAL Development Bank of India is a lucky lender. The development financial institution, which just redefined itself as a commercial bank, quietly wangled a budgetary support of Rs 9,575 crore — Rs 9,000 ...
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LIFE INSURANCE
Cardiff stake in SBI Life to stay at 26 pc
CARDIF SA, the French collaborator of State Bank of India in SBI Life Insurance Company, will not raise its stake in the venture from the existing 26 per cent, SBI's Chairman, Mr A.K. Purwar, has said. "There will be no change in the ...
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DEBT MARKET
Bond yields may harden further
Bonds continued to plunge in a listless market last week as uncertainty over interest rates and inflation concerns rattled traders. Traders said that inflation was the biggest worry in the markets. For the latest reporting week, it was 6.2 per ...
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PRIVATE BANKS
UTI Bank adds ATM in Thiruvananthapuram
THIRUVANANTHAPURAM: UTI Bank has expanded its ATM network in the city, says a bank press release. The bank's eighth ATM in Thiruvananthapuram was inaugurated today by Mr Hormese Tharakan, Director General of Police, Kerala, the release ...
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PUBLIC SECTOR BANKS
SBI hopes to disburse Rs 6,000-cr agri loans
STATE Bank of India expects its agricultural loans to be Rs 6,000 crore (gross disbursements) in the current financial year, around 30 per cent more than last year. Net of repayments, the bank's agricultural loans are expected to increase ...
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FOREIGN BANKS
Vasanthan joins National Bank of Oman as CEO
DR B. Vasanthan, former Chairman and Managing Director of Andhra Bank, has joined the National Bank of Oman, as its Chief Executive Officer. Dr Vasanthan started his career in 1965 with Syndicate Bank. During this period, he also led the ...
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GOVT BONDS
Rising interest rates to take a breather
The benchmark 10-year government bond yield, which was around 5.10 per cent at the end of April, is now close to 5.85 per cent. Various factors have played their part in this pull back. Rising domestic inflation, hardening of rates overseas, end ...
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NON-PERFORMING ASSETS
Lenders may get better deal in amended Securitisation Act
THE Securitisation Act could soon become more appealing for lending institutions. Besides toying with the idea of stipulating a fixed time frame for the appellate courts to dispose of cases, the Ministry of Finance is also considering a ...
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Cross Currency Rates
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