MONEY & BANKING
FARM CREDIT
PNB loan against warehouse receipts
FARMERS and traders will now be able to obtain finance against warehouse receipts, thanks to a new scheme introduced by the Punjab National Bank (PNB) in collaboration with National Multi-Commodity Exchange of India Ltd (NMCE) and Central ...
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PREFERENTIAL ALLOTMENTS
PSBs may be allowed to issue pref shares
THE Reserve Bank of India is examining a proposal to allow public sector banks to raise capital through issue of preference shares. Speaking at a FICCI conference on banking, the RBI's Deputy Governor, Ms K.J. Udeshi said, "We need to explore ...
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PENSION PLANS
ING keen to enter pension segment
The ING Group today said that it was keen to enter the Indian pension market once more players are allowed into the sector. "We want to contribute to sustainable pension solutions in the country," ING's global head of pensions, Mr Jan Nijssen, ...
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FOREX
Rupee tad weaker; gilts move up
MUMBAI: The rupee touched a low of 45.9750 against the US dollar during Thursday's session but recovered later to end at 45.86/88. The Indian currency had closed at 45.8550/8650 on Wednesday. The rupee opened weaker today as the dollar ...
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RBI & OTHER CENTRAL BANKS
`RBI keeping a close watch on inflation'
Monetisation of Government deficits would also be completely discontinued in line with the road map prescribed by the Fiscal Responsibility and Budget Management Act.
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RBI fiat on coins
MUMBAI: The Reserve Bank of India has advised all commercial banks to freely accept coins of all denominations for exchange into bank notes. The RBI said in a release that the Reserve Bank offices would also continue to freely accept all ...
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PRIVATE BANKS
Federal Bank AGM likely to be stormy
THE annual general meeting of Federal Bank on September 27 is expected to witness a keen tussle among several contenders for the three seats falling vacant on the board of directors. A new group, representing the interests of the bank ...
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Kotak Mahindra Bank opens full-fledged branch in Kochi
KOTAK Mahindra Bank opened its first full-fledged retail banking branch in Kerala at Kochi on Thursday, which offers a complete package of practical financial solutions. Addressing a press meet after the inauguration of the branch, Mr Uday ...
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PUBLIC SECTOR BANKS
Vijaya Bank sets up risk management unit
THE public sector Vijaya Bank has put in place a risk management department to contain asset liability and market risks. Speaking at the FICCI conference on banking, Mr M.S. Kapur, Chairman and Managing Director of Vijaya Bank, said the bank ...
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GOVT BONDS
Dry-runs on screen-based gilts trading
BANKS have started mock runs on the screen-based, anonymous order-driven trading system for the gilts markets, which will get rid of brokers. The Reserve Bank of India is testing the system to avert any glitches before it goes live by December. ...
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NON-PERFORMING ASSETS
SBH opens recovery branch at Ramkote, Hyderabad
HYDERABAD: The State Bank of Hyderabad (SBH) has announced that it has opened its first asset recovery branch at Ramkote here. Its Managing Director, Mr Amitabha Guha, inaugurated the branch. In a press release here on Thursday, the ...
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TRADE & LABOUR UNIONS
Dharna by bank employees
MANGALORE: The United Forum of Bank Employees (UFBU), Dakshina Kannada unit, staged a "dharna" in front of the regional office of Karnataka Bank Ltd in Mangalore on Wednesday, seeking an early conclusion of their wage revision. A press ...
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United India Insurance officials' strike
EVENTS
Go for next, best practice, Narayana Murthy tells banks
THE Chairman and Chief Mentor of Infosys Technologies, Mr N. R. Narayana Murthy called upon the banking industry on Thursday to adopt a three-pronged strategy — speed, imagination and excellence in execution — to survive and succeed ...
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Cross Currency Rates
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