MONEY & BANKING
INSIGHT
Banks continue to have the cake and eat it too
FOR long, the public placing funds in bank deposits had suspected an unfair deal from bankers. Confirmation now comes from the Report of the Advisory Committee to advise on the administered interest rates and rationalisation of saving instruments ...
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FOREX
Rupee tad weaker; bond prices slip
MUMBAI: The domestic currency ended marginally weaker on Thursday at 46.3750/3800, against 46.3550/3650 on Wednesday. Dealers said the currency traded in a range of 46.3250-3850 through the day. Liquidation of long dollar positions by ...
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INSURANCE
Private insurers face recap pressure
FACED with a dip in the value of investments, private sector insurers, both life and non-life, are now under pressure to recapitalise to sustain their growth momentum. Sources said the capitalisation was necessitated since the bulk of the ...
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CONSUMER FINANCE
Royal Enfield tie-up with Syndicate Bank extended to Maharashtra
ROYAL Enfield has extended its tie-up with Syndicate Bank to offer an attractive finance scheme for its customers in Maharashtra under the latter's `Syndvahan' vehicle finance offering. This tie-up will make it easier for aspiring customers to ...
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LIFE INSURANCE
Birla Sun Life raises capital by Rs 25 crore
BIRLA Sun Life Insurance has raised its paid-up capital by Rs 25 crore to Rs 315 crore. The joint venture partners, the Aditya Birla Group and Sun Life Financial Inc, have contributed the additional amount of Rs 25 crore, said a press ...
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AMP Sanmar to pay 6 pc bonus
AMP Sanmar Life Insurance Company has declared bonuses on three of its products. It has declared a bonus of 6 per cent (simple) on the sum assured, consisting of 4 per cent reversionary plus two per cent non-recurring reversionary, on `Nithya ...
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PRIVATE BANKS
South Indian Bank rights offer
SOUTH Indian Bank has proposed a rights issue of 1,19,19,480 equity shares of Rs 10 each at a premium of Rs 30 per share to the existing shareholders in the ratio of one equity share for every three shares held on the record date of July 23. The ...
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NON-PERFORMING ASSETS
Compromise settlements: Lok Adalats' ceiling raised to Rs 20 lakh
THE Reserve Bank of India has said that the monetary ceiling of cases for compromise settlements referred to the Lok Adalats organised by civil courts has been raised to Rs 20 lakh with immediate effect, as against the earlier limit of Rs 5 ...
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CREDIT CARDS & DEBIT CARDS
Andhra Bank card for ICFAI students
BENEFITING a large student community of over 55,000 pursuing higher studies in finance and management, Andhra Bank has launched a co-branded credit card with the ICFAI University here on Thursday. The co-branded card will enable the students ...
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TRADE & LABOUR UNIONS
Bank staff demonstration in Coimbatore
INVESTOR PROTECTION
Depositors with banks beware, says Crisil
CRISIL has said depositors need to be more cautious as all banks are not necessarily risk-free, as seen in light of the recent episode with Global Trust Bank (GTB). A recent study by the rating agency has revealed that all types of banks in the ...
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Cross Currency Rates
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