MONEY & BANKING
INSIGHT
`Foreign currency bonds issue not advisable now'
IT is not advisable for India to go in for foreign currency denominated bond issue at this point, according to Dr Y.V. Reddy, Governor, Reserve Bank of India. In an interview to Emerging Markets, a Euromoney Institutional Investor ...
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FOREX
Rupee marginally firmer; bonds up
MUMBAI: The rupee closed marginally stronger at 45.8425/8500 against the dollar in a lacklustre forex market on Monday, dealers said. The currency had ended at 45.86 per dollar in the previous closing session. The rupee opened slightly ...
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TAXATION
LIC may bear service tax burden this year
THE Life Insurance Corporation (LIC) Chairman, Mr S.B. Mathur, on Monday indicated that the corporation's policyholders might not have to pay service tax during the current fiscal. ``It would be pretty difficult to pass on the service tax ...
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FINANCIAL PERFORMANCE
Syndicate Bank net dips Rs 50 cr Q-on-Q
SYNDICATE Bank has reported Rs 49.66-crore drop in net profits in the second quarter (Q2) this year due to fall in investment and treasury profits. Briefing reporters here on Monday on the Q2 results, Mr K.M. Shet, Executive Director of the ...
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FOREIGN DIRECT INVESTMENT
IRDA backs insurance FDI cap at 49%
THE Insurance Regulatory and Development Authority (IRDA) has said that it favoured a hike in foreign direct investment cap in insurance from 26 to 49 per cent. "FDI hike is a matter of policy. The Finance Minister has already announced it in ...
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WTO
`Efficient financial system crucial for growth'
THE Chairman and Managing Director of Corporation Bank, Mr Cherian Varghese, has said that a strong and efficient financial system is very critical to achieve faster economic growth. He was speaking after releasing a book - "WTO and the ...
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HUMAN RESOURCES
HSBC to hire 400 sales staff
THE Hongkong and Shanghai Banking Corporation (HSBC) India is planning to recruit 400 sales staff this year in order to increase penetration in the retail segment. Currently, HSBC India sales strength stands at 3,000. The bank is also planning ...
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RBI & OTHER CENTRAL BANKS
Banks told to invest in wasteland development
THE Reserve Bank of India has asked banks to work with the State Governments and invest in the development of wasteland and fallow land for irrigation, as per the recommendations made by the advisory committee on flow of credit to agriculture and ...
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PRIVATE BANKS
Federal Bank gets case before CLB postponed
THE Aluva-based Federal Bank has sought and obtained a postponement of its case, which came up for hearing on Monday at the Company Law Board, Chennai, senior sources in the bank told Business Line. Based on a petition filed by ICICI ...
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UTI Bank opens branch in Hyderabad
HYDERABAD: UTI Bank has announced that it has opened new branch at Dilsukhnagar here on Monday. The Chairman and Managing Director, Dr P.J. Nayak, has opened the branch. The bank currently has a network of 229 branches, 73 extension ...
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GOVT BONDS
Rs 5,000-cr gilts sale cancelled
CONCERNS of a liquidity crunch in the domestic debt market have led the Reserve Bank of India to cancel the Rs 5,000-crore auction of dated security scheduled to be held during October 18-25. As per the indicative calendar for issuance of ...
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TRADE & LABOUR UNIONS
SBI (Kerala Circle) staff sit-in today
THIRUVANANTHAPURAM: The Kerala Circle units of the State Banks' Staff Union (SBSU) and the State Bank of India Officers Association (SBIOA) will stage a sit-in in front of the Local Head Office here on Tuesday. This is being done as a ...
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Cross Currency Rates
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