MONEY & BANKING
FINANCIAL SERVICES
Credit Info Bureau enlarges ambit of operations
ACCORDING to a June 4th, 2002 circular of the Reserve Bank of India, the Mumbai-based Credit Information Bureau (India) Ltd (CIBIL) was `set up' as far back as January 2001; to facilitate the exchange of information ...
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INSIGHT
The Basel-II blushes
BANKS, being highly leveraged entities, need to guard against failures, which could cause significant distress to the economy. Basel-I norms were principally to ensure adequacy of capital of banks as a defined ...
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FOREX
Rupee marginally up; bonds firmer
MUMBAI: The rupee closed marginally stronger against the dollar on Wednesday, ending at 46.33, against its previous close of 46.35. Dealers said the domestic currency was buoyed by a bout of exporter-selling of dollars, even as the ...
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HARDWARE
HMA Data ties up with UK co
CHENNAI: HMA Data Systems Pvt Ltd has announced the formation of its subsidiary, CashLink Global Systems, to address technology hardware requirements in retail banking. For this, it has tied up with the UK-based De La Rue Cash Systems to ...
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LIFE INSURANCE
Aviva in pact with IIMA for training executives
AVIVA Life Insurance Company India Pvt Ltd, the joint venture between Dabur India Ltd and Aviva plc UK, is banking on the Indian Institute of Management, Ahmedabad (IIMA) to shore up its `next generation leadership' capabilities. The ...
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GENERAL INSURANCE
United India net up 122 pc
UNITED India Insurance recorded a profit after tax of Rs 380.45 crore in 2003-04, up 122 per cent over the previous year's profit of Rs 170.99 crore. The company's directors have declared a dividend of 30 per cent. The growth in profit was ...
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PRIVATE BANKS
RBI favours old pvt banks consolidation
OLD private sector banks are under the central bank's lens for signs of possible weakness, so that they can be nudged towards consolidations if necessary, according to Ms K.J. Udeshi, Deputy Governor, Reserve Bank of India. Mergers and ...
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PUBLIC SECTOR BANKS
Indian Bank plans 5 more branches in Vizag circle
INDIAN Bank is planning to open five more branches in the Visakhapatnam circle, in addition to the existing 44. The bank is awaiting the RBI clearance for the purpose, said Mr Mohammed Najumuddin, Assistant General Manager. At a press ...
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NON-PERFORMING ASSETS
`Retain 75 pc upfront payment at Appellate DRT stage' — Banks to press for stern steps on NPAs
Discussions on the Securitisation Act are likely to figure prominently at Thursday's meeting of the Finance Minister with the chiefs of public sector banks.
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CREDIT CARDS & DEBIT CARDS
Beware! Credit cards can be as addictive as drugs
IF you are a credit card holder and are planning a small outing over the weekend, www.personalfn.com is a good place to visit. In an article titled `Landing in a debt trap', the site offers some small and ...
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Cross Currency Rates
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