MONEY & BANKING
FARM CREDIT
Timely Nabard credit line for farmers
PERHAPS, for the first time, the National Bank for Agriculture and Rural Development (Nabard) is setting up a Rs 6,000-7,000-crore liquidity support facility to fund-distressed farmers. With the Central and State Governments gearing up for a ...
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FINANCIAL SERVICES
Foray into global corporate leasing — Srei opens arm in Germany
SREI International Finance Ltd (Srei), the infrastructure project finance company, has formed a 100 per cent subsidiary outfit in Germany - International Infrastructure Services GmbH (IIS) - to venture into global corporate leasing business. ...
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INSIGHT
NPAs: Why the undue anxiety?
IF NOT for the accelerated provisions made to bring down the non-performing assets (NPAs) below the 3 per cent mark to comply with the last minute diktat of the Reserve Bank of India for declaring dividends, the profits ...
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FOREX
Rupee steady; bonds recover
MUMBAI: The rupee ended at 46.47/48 against the dollar on Friday, unchanged from its previous closing levels, even as bond prices recovered lost gains across maturities. The domestic currency scraped an intra-day low of 46.52 on the back ...
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Software for treasury ops
CHENNAI: VKC Software Solutions (P) Ltd has launched software to help companies manage their entire treasury operations. Called TRIAD, the Web-based solution can handle all complexities of a modern treasury. It is also an integrated ...
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INSURANCE
Special discount: Insurance brokers seek compensation
WITH the five per cent special discount being offered by the insurers directly to corporate houses posing a threat to the survival of the broking industry, the Insurance Brokers' Association of India (IBAI) has urged the regulator to evolve a ...
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FINANCIAL PERFORMANCE
IOB net rises 26 pc in Q1
INDIAN Overseas Bank (IOB) has reported a 26 per cent growth in net profits for the first quarter at Rs 174.60 crore. Mr S.C. Gupta, Chairman and Managing Director, said that the performance had come in a period when pressure on profitability ...
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RBI & OTHER CENTRAL BANKS
Rs 50 lakh missing from RBI currency consignment
A SUM of Rs 50 lakh is believed to have gone missing from a currency consignment received at the Reserve Bank of India's regional office in Thiruvananthapuram from the Mysore unit of the Bharatiya Reserve Bank Note Mudra Ltd. An RBI ...
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PRIVATE BANKS
Birla SunLife to manage CSB's retirement fund
THE Thrissur-based Catholic Syrian Bank has decided to subscribe to Birla Sun Life Insurance Company's (BSLI) group superannuation plan. With a commitment to provide its 3,000 employees with a comfortable retirement kitty, the bank has chosen ...
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TMB to open two ATMs at Chennai
According to the Chairman, Mr P. Natarajan, the ATMs will be coming up at Annanagar and T. Nagar on `Adiperukku' Day. He further said that ten more branches would be opened in the coming months at Koyambedu, Palghat and Indore. Also, a ...
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PUBLIC SECTOR BANKS
Indian Bank loans to strengthen school buildings
THE Indian Bank has come forward to assist schools in the State in their endeavour to strengthen the buildings. The Chairman and Managing Director, Mr M.B.N. Rao, told presspersons at Tiruchi said that the bank is willing to extend loans ...
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State Bank of Indore to distribute Franklin Templeton schemes
FRANKLIN Templeton Investments (India) has signed a Memorandum of Understanding with State Bank of Indore, for distribution of its schemes. Under the agreement, State Bank of Indore, a subsidiary of State Bank of India, will distribute the entire ...
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SBI pays Rs 345-cr dividend to Govt
MUMBAI: State Bank of India has paid a dividend of Rs 345.77 crore for the financial year 2003-04 to the Government of India. The cheque for the amount of the dividend was handed over to the Finance Minister, by Mr A.K. Purwar, ...
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FINANCIAL INSTITUTIONS
No decision yet on IFCI merger
PUNJAB National Bank (PNB) and Industrial Development Bank of India (IDBI) would have to wait a while for the final verdict on who among the two would be allowed to gobble up the ailing IFCI Ltd. Senior Finance Ministry officials said a final ...
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INTERVIEW
`Decision on GTB taken in public interest'
EVER since it came to light that Oriental Bank of Commerce (OBC) had evinced interest in acquiring and turning around Global Trust Bank (GTB) at least a month before the moratorium was imposed on the Hyderabad-based ailing bank, RBI's action on ...
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CO-OPERATIVES
KSCB gets Rs 527-cr credit from Nabard in three years
THE Regional Office of the National Bank for Agriculture and Rural Development (Nabard) has said that it sanctioned an aggregate short-term credit limit of Rs 526.90 crore to the Kerala State Cooperative Bank (KSCB) during the last three years in ...
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Cross Currency Rates
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