MONEY & BANKING
FOREX
Rupee strengthens; securities recover
MUMBAI: The rupee strengthened for the second day in a row to close at 46.30/31 per dollar on Wednesday on ample supplies of greenbacks. The rupee was up five paise from previous day's close of 46.35/36. In the early deals, the rupee ...
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NBFCS
RBI fiat to NBFCs
THE RBI has directed non-banking finance companies to take its prior approval before approaching the Registrar of Companies (RoC) to extend the date of its balance sheet as per the provisions of the Companies Act. Even in cases where the RBI and ...
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HOUSING FINANCE
BHW Birla offers home loans at 7 per cent
AT a time when home finance companies were talking of interest rate hikes, BHW Birla Home Finance Ltd, a subsidiary of German major BHW Holding, has come out with a product that offers an effective interest rate of 7 per cent. The company ...
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LIFE INSURANCE
Aviva to hike capital
CHENNAI: Aviva Life Insurance Company is to hike its capital base by Rs 50 crore to take it to Rs 293 crore. This was announced by Mr Stuart Purdy, Chief Executive Officer, Aviva Life, at the insurance summit organised by the company in ...
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GENERAL INSURANCE
Tata AIG sees 45 pc growth in premium income
TATA AIG General Insurance Company is expected to see a growth of about 45 per cent in its premium income for the fiscal 2004-05, said Mr Dalip Verma, Managing Director, Tata AIG. The company had made a premium income of Rs 353 crore in the ...
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PRIVATE BANKS
ICICI Bank refutes rumours on financial position
ICICI Bank has refuted rumours on bank's financial position. "Nothing abnormal is happening at the bank," according to its Deputy Managing Director, Ms Kalpana Morparia. She said that bank's fundamentals were very strong. There were some ...
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PUBLIC SECTOR BANKS
IOB keen to finance self-help groups
Indian Overseas Bank is keen on extending financial assistance to self-help groups, Mr S.C. Gupta, Chairman and Managing Director, has said. He was addressing a meeting of self-help groups from five coastal districts here on Wednesday after ...
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SBI to install 20 more ATMs in Tiruchi
MADURAI: State Bank of India has planned to install 20 networked Automatic Teller Machines (ATMs) in the Tiruchi module, comprising nine central districts of Tamil Nadu and Pondicherry. According to the SBI Deputy General Manager, Mr R. ...
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FIXED DEPOSITS
No impact on NRI deposits due to tax more: IOB chief
THE proposal to tax the NRI deposits, introduced in the recent Budget, has not made any visible impact on the Indian Overseas Bank and "there have been no large withdrawals so far,'' according to the Chairman and Managing Director, Mr S.C. ...
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TRADE & LABOUR UNIONS
IBA, unions talks fail
THE conciliation meeting called by the Regional Labour Commissioner of Bombay to settle differences between the Indian Banks' Association and the labour unions ended fruitlessly today. Mr C.H. Venkatachalam, Secretary, All India Bank Employees ...
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ALLIANCES & JOINT VENTURES
Andhra Bank to vend SBI Mutual products
HARDENING of interest rates coupled with shrinking of traditional streams of business revenue for the banking industry have led Andhra Bank to shift its focus towards deriving more income from fee-based activities, the Chairman and Managing ...
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RIGHTS ISSUE
Centurion Bank 2:5 rights issue opens on Aug 24
CENTURION Bank has filed its final Letter of Offer for its rights issue aggregating Rs 90.8 crore with the stock exchanges today. The bank will offer shareholders 2 shares for every 5 shares held on the record date, which was set earlier at ...
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ECONOMIC OFFENCES
CBI raids ED, other officials of Bank of Maharashtra
THE Central Bureau of Investigations (CBI) on Wednesday conducted a series of raids on the the residences of top ranking officials of Bank of Maharashtra, including its Executive Director, Mr A.V. Dugade. The day-long raids conducted across ...
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Cross Currency Rates
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