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RBI tightens liquidity to curb inflation — Cash reserve ratio hiked to 5 pc
IN a bid to check the liquidity overhang in the system, the Reserve Bank of India has hiked the cash reserve ratio (CRR), to be maintained by banks, by 50 basis points to 5 per cent of their demand and time liabilities. The CRR will be raised ...
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Fall in bond prices feared
THE 50-basis-point hike in the cash reserve ratio (CRR) may not be good news to bankers who planned to shift statutory liquidity ratio (SLR) securities to the held to maturity (HTM) category by the end of this month. While the Rs 8,000 crore ...
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Life insurance comes under service tax net — Not much comfort for policy holders
LIFE insurance services have come under the service tax net with effect from Friday, with the Finance Ministry withdrawing the exemption that was granted to such services in 2002. For the existing life insurance policyholders, the upsetting ...
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Banking cos, FIs exempted from service tax
BANKING companies and financial institutions need not henceforth fork out any service tax on any "taxable services" provided by them to either the Central Government or State Government in relation to collection of any duties or taxes. The ...
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Fund management: HSBC vaults into top five
WITHIN two years of starting operations, HSBC has emerged as one of the top five managers of equity funds in India. The fund, which started operations with assets of about Rs 35 crore under its equity funds at the end of December 2002, reported ...
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Jet offers lower `check fares'
JET Airways on Saturday announced the launch of `check fares' offering a saving of 30-45 per cent on normal economy class fares on select flights on seven sectors. These include to-and-fro flights on sectors such as Bangalore-Delhi, ...
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Indian Americans more educated, more wealthy
IT is generally known that Indian community in the US is both wealthy and well educated. But what is not so well known is that gender discrimination prevails there too. According to a comprehensive report brought out by the Indian American ...
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Cane SMP to be fixed at 9 pc base recovery
IN a big boost to the sugar industry, the Government has decided to fix the Statutory Minimum Price (SMP) of sugarcane on a base recovery of 9 per cent, against the existing 8.5 per cent. Further, factory-wise SMPs would be determined based on ...
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BSE to start weekly options from Monday
The benefits of weekly options are that they will command lower premium due to shorter maturity and cost less than the monthly options.
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PO schemes gross funds mobilisation up 23 pc
DESPITE the fact that the interest rates on various post office (PO) schemes have fallen drastically in over the last decade, their gross funds mobilisation has increased from Rs 27,292 crore in 1992-93 to Rs 1,45,550 crore by the end of 2003-04, ...
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