MONEY & BANKING
REGIONAL RURAL BANKS
Fiscal support for RRBs, co-ops urgent: Reddy
THE Reserve Bank of India Governor, Dr Y. V. Reddy, has strongly favoured a comprehensive overhauling of rural cooperative structure and the regional rural banks (RRBs) which act as critical instruments for rural credit. Expressing serious ...
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FOREX
Dollar fall overdone?
TERROR stalks the world. Oil prices are on a tear. Iraq continues to simmer. The twin deficits - trade and fiscal - haunt the US economy. And the Fed is remorseless in raising interest rates. Everything in place, one would have thought, ...
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Rupee, gilts fail to hold gains
MUMBAI: Fresh foreign investment inflows and bunched-up dollar supplies led to an appreciation in the rupee's value to 44.98/99 against the dollar intra-day on Tuesday. However, the currency closed slightly weaker at 45.0750/0850. against ...
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INSURANCE
`New farm insurance norms needed'
The policy should enable establishing an objective assessment of impact of adverse monsoon conditions and appropriate relief to farmers. It should facilitate farmers to assure themselves of a price for all their products through a well-regulated netw ork of forward, futures and options markets.
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SOFTWARE
CheckFree logs in Satyam as preferred partner
SATYAM Computer Services Ltd, the Hyderabad-based software major listed on the New York Stock Exchange (NYSE), has announced that it has been selected by CheckFree Investment Services (CIS) under a multi-year services agreement to become the ...
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Moscow bank picks Flexcube
MUMBAI: i-flex Solutions Ltd has announced that International Moscow Bank (IMB) has chosen Flexcube for its core banking requirements as part of a technology modernisation drive. Flexcube, i-flex's flagship product suite, will be ...
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PUBLIC SECTOR BANKS
Andhra Bank `well insulated' against investment swings
BY shifting Rs 4,663 crore of securities from `available-for-sale' and `held-for-trading' categories to `held-to-maturity', Andhra Bank has strengthened its balance sheet, the bank's Chairman and Managing Director, Mr T.S. Narayanasami, told ...
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INTEREST RATES
ICICI Bank hikes deposit, lending rates
ICICI Bank today hiked deposit and lending rates, including those on home loans, by 0.25-0.75 percentage points. The bank said that the move was in line with market trends as interest rates across various maturities have increased during the ...
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MERGERS & ACQUISITIONS
Govt looking at merger of PSU general insurance cos
THE merger virus is hopping over from the banking industry to the insurance sector. After sparking off an intense debate on the need to merge public sector banks, the Ministry of Finance has now initiated discussions on catalysing ...
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Finance Ministry to encourage mergers
THE Union Finance minister, Mr P. Chidambaram, has asserted that his Ministry would encourage the coming together of banks, but the move would have to be initiated by the respective banks that intended to join hands. Speaking at the inaugural ...
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TRADE & LABOUR UNIONS
Union Bank move for reforms draws TU ire
THE United Forum of Bank Unions has voiced its opposition to the Union Bank of India's moves to redesign its product portfolio. In a letter sent to the bank, the unions have warned that moves to revise the minimum balance stipulation and ...
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Cross Currency Rates
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