MONEY & BANKING
FOREX
Rupee volatile; bond prices rise
MUMBAI: After climbing as high as 44.9650 against the dollar in a volatile forex market, the rupee closed at 45.0750/0850 on Thursday, marginally weaker than its previous close at 45.04/06. The domestic currency opened stronger when ...
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New Rs 20 bank notes
THIRUVANANTHAPURAM: RBI will soon issue bank notes of Rs 20 denomination with the letter `R' inset in the numbering panel, an official spokesman said here. These notes will be issued in the Mahatma Gandhi series. It will bear the ...
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Meet on currency management in Coimbatore
COIMBATORE: Sardar Vallabhai Patel Institute of Textile Management here will hold a programme on currency risk management on Friday and Saturday.The programme is intended to benefit chief executives and finance managers in the corporate ...
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INFORMATION TECHNOLOGY
SBI to use new tech platform for cash management system
SBI is going in for this new technology platform following the recommendations of the global consultancy major, McKinsey.
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STOCKS
Rising rates put banking stocks on top
THE markets continued its upward journey after the Sensex closed above the 6,000-mark on Wednesday. On Thursday, the Sensex closed at 6,025.5 points, up 8.9 points. Banking, steel and select mid-caps were the favourite for the day. The CNX ...
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LIFE INSURANCE
LIC unveils two policies
The Life Insurance Corporation of India has launched two new plans Jeevan Anurag and Jeevan Nidhi, a money back and a pension product. `Jeevan Anurag' is a money back plan that takes care of the need for higher education of the policyholder's ...
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RBI & OTHER CENTRAL BANKS
World Bank to provide $9 b
WHILE Indian economy is growing at a rate of more than six per cent and hopes to move ahead faster in the coming years, it is an average rate and a real understanding of the two different paces of growth is necessary. India cannot move ahead ...
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PUBLIC SECTOR BANKS
SBT `pilgrim banks' for Sabarimala devotees
THIRUVANANTHAPURAM: State Bank of Travancore (SBT) has opened `pilgrim banking centres' at Sannidhanam and Pampa in the hill shrine of Sabarimala. An official spokesman said here that the bank would also set up an ATM counter at Pampa ...
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INTEREST RATES
More banks closer to raising rates
YIELDING to the pressures of an upward movement in interest rates, a number of banks are gearing up to raise deposit rates. Some are also understood to be reviewing their lending rates. Private sector Centurion Bank Ltd on Thursday announced ...
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GOVT BONDS
RBI cancels dated security auction of Rs 5,000 cr
THE Reserve Bank of India has cancelled the Rs 5,000-crore auction of dated security scheduled to be held during November 16-24. In a press release issued today, the RBI said, "Taking into account all relevant factors, the Government of India, ...
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CREDIT MARKET
IDBI Bank to expand non-home retail assets — Close to tie- up with 4 NBFCs
IDBI Bank is close to announcing tie-ups with "three or four" NBFCs (non-banking financial companies) for generating retail loans. The bank's Head-Retail Assets, Mr Prashant Joshi, told presspersons on Thursday that the NBFCs would generate ...
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TRADE & LABOUR UNIONS
Unions to oppose move to merge PSBs
CONCERNED over the Government stand on the merger of public sector banks (PSBs), the staff unions have decided to vehemently oppose it. The unions are of the view that the Government moves lacked transparency and that they were not taken ...
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EVENTS
RBI museum traces monetary heritage — To be open to public from January
THE President of India, Dr A.P.J. Abdul Kalam, today inaugurated the Reserve Bank of India's Monetary Museum in Mumbai. As the central bank of the country, the Reserve Bank of India is the custodian of the country's monetary heritage. The RBI ...
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Cross Currency Rates
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