MONEY & BANKING
FINANCIAL SERVICES
Mitsui hikes stake in Cholamandalam Risk
CHOLAMANDALAM Investment & Finance on Friday informed the Bombay Stock Exchange of the change in the status of Cholamandalam Risk Service. Cholamandalam Risk Service is no longer its subsidiary as Mitsui Sumitomo has increased its equity stake in
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INSURANCE
Govt puts on hold plan to hike insurance FDI limit
THE four-month old tiff between the Government and the Left parties on foreign direct investment (FDI) in select sectors has claimed its first major casualty. Buckling under Left parties' pressure, the Government has finally put on hold its ...
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FINANCIAL PERFORMANCE
Indian Bank posts 32 pc growth in H1 net profit
INDIAN Bank has reported a 32 per cent growth in net profits for the first half of the current fiscal at Rs 154.10 crore. The profits were after making substantial provisions of about Rs 350 crore. These provisions included Rs 110 crore for the ...
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LIFE INSURANCE
Kotak Life unveils new product
KOTAK Mahindra Old Mutual Life Insurance Ltd has launched Kotak Premium Return Plan (KPRP), a product that offers life protection and return of premium on maturity if the insured person survives, a company release said. Launched for the ...
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Harsha Bhogle to endorse Tata AIG life insurance plan
TATA AIG Life Insurance Company Ltd (Tata AIG Life) has signed up cricket commentator Harsha Bhogle as its brand ambassador. Bhogle will endorse Tata AIG Life's whole life insurance product MahaLife, accompany release said. Tata AIG Life is ...
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GENERAL INSURANCE
Recovery of dues: SC adjourns ESIC petition
THE Supreme Court on Friday adjourned the special leave petition filed by Employees State Insurance Corporation (ESIC) seeking recovery of dues from various companies with retrospective effect as against prospective effect as ordered by the ...
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Non-life public insurers may tap capital market
A DILUTION of Government stake in the four public sector non-life insurance companies is likely this year in view of the large capital requirements to sustain growth. High-level sources said, the Finance Minister, Mr P. Chidambaram, had ...
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RBI & OTHER CENTRAL BANKS
New Rs 20 notes
THE Reserve Bank of India will shortly be issuing Rs 20 denomination bank notes with inset letter `R' in numbering panel in the Mahatma Gandhi series. These notes will bear the signature of Dr Y.V. Reddy, Governor, RBI, said a press ...
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PUBLIC SECTOR BANKS
Make a suggestion and get rewarded : Canara Bank
CANARA Bank has introduced a unique scheme to reward those customers who come out with useful suggestions on its products and services. The bank invites its customers to offer innovative, original, feasible and customer-centric suggestions ...
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INTEREST RATES
`Fuel price hike may cause hardening of rates'
SEVERAL bankers see the hike in petroleum prices as the immediate trigger, which will lead to a hike in interest rates. "We expect the interest rates to harden in the coming weeks when the revision in petroleum prices builds up inflationary ...
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AP CM for differential interest rate regime
THE Andhra Pradesh Chief Minister, Dr Y.S. Rajasekhara Reddy, has urged the Indian banking system to revert to the differential interest rate regime prevalent during the reign of the former Prime Minister, Ms Indira Gandhi, to strengthen the ...
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CREDIT MARKET
`Lend more to key areas'
CREDIT CARDS & DEBIT CARDS
SBH to take over credit card dues
IN what could be considered a major boon to lakhs of credit cardholders of various banks across the country, the State Bank of Hyderabad (SBH) has designed an innovative product that enables the credit cardholders to obtain a loan of up to Rs 1 ...
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FIXED DEPOSITS
SBI to review short-term deposit rates
STATE Bank of India is reviewing its short-term deposit rates, according to its Chairman, Mr A.K. Purwar. "There is certainly some pressure to increase rates and we are taking a re-look at our short-term deposit rates. In fact, sub-PLR rates ...
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TRADE & LABOUR UNIONS
SBI staff strike total in Kerala
WORK at State Bank of India (SBI) branches in the State came to a halt on Friday as employees owing allegiance to both officers' and staff unions observed a strike to press a charter of demands. Daylong demonstrations and other forms of ...
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PEOPLE
City Union Bank CMD dies in road accident
THE Chairman and Managing Director (CMD) of the Kumbakonam-based City Union Bank, Mr V. Narayanan, was killed in a road accident today. He was 61 and is survived by his wife, who was injured in the accident, and two sons. A relative of ...
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On Vijaya Bank board
THE Union Ministry of Finance has appointed the Organising Secretary of Vijaya Bank Workers Organisation, Mr Mallikarjuna S. Madinur, as the new Workman Director on the bank's board. He is currently working as clerk at the Service Branch here, ...
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New GM for SBH
Cross Currency Rates
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