MONEY & BANKING
HOUSING FINANCE
SBI Home Finance served show-cause notice by NHB
SBI Home Finance Ltd has been served a show-cause notice by National Housing Bank (NHB), New Delhi, threatening to cancel the registration of the company in the light of the erosion in its net worth and the losses incurred over the past several ...
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PUBLIC SECTOR BANKS
UCO Bank to vend Reliance MF products
RELIANCE Mutual Fund has proposed to tie up with UCO Bank for distribution of its schemes. The two are expected to announce the deal shortly. The bank's proposed arrangement with Reliance will come close on the heels of its association with ...
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SBI staff training centre inaugurated in Hyderabad
HYDERABAD: The Managing Director and Group Executive of State Bank of India (SBI), Mr Ashok Kini, has inaugurated the new premises of SBI Staff Training Centre at Gachibowli here on Monday. In a press release, the bank said it has 46 ...
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FOREIGN BANKS
StanChart plans firm to take out stressed assets
Global companies such as CDC Capital Partners, Merrill Lynch, Colony Capital, Cerebrus, Morgan Stanley, GE Capital, Shinsei Bank, GW Fund, and Newbridge plan to enter the Indian market.
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INTEREST RATES
RBI sets floater rate at 5.37%
THE Reserve Bank of India set the rate of interest on the Floating Rate Bonds, 2006 (FRB, 2006) at 5.37 per cent per annum applicable for the half-year November 22, 2004 to May 21, 2005. According to a RBI release, the variable base rate based ...
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More banks hike deposit rates
MUMBAI: Union Bank of India has decided to raise interest rates on its home loans with immediate effect. Rates on fixed rate loans have been raised by 50 basis points, while floating rates have been hiked by 25 basis points, said Mr ...
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CORPORATE BONDS
KNNL gives more time for completion of debt issue
A debt issue by Karnataka Neeravari Nigam Ltd (KNNL) has set a cat among pigeons in the investment banking community, with some players freely referring to what they claim is the difficulty faced while raising the desired amount. The company, ...
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SIDBI ups rates on CG bonds
THE Small Industries Development Bank of India (SIDBI) has revised interest rates on its capital gains bonds upwards by 25 and 35 basis points effective November 24. The rate on investments less than Rs 1 crore is now 5.25 per cent while ...
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NON-PERFORMING ASSETS
Rupee tad firmer; gilts range-bound
MUMBAI: In a lacklustre foreign exchange market on Monday, the rupee finished marginally higher at 45.0350/0450 against the dollar. The rupee had closed at 45.08/10 per dollar in the previous closing session. "A range-bound movement was ...
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TRADE & LABOUR UNIONS
SBI staff on the warpath
THIRUVANANTHAPURAM: More than two lakh staff and officers working at 9,000-odd branches of State Bank of India (SBI) across the country are gearing up for a two-day strike on December 6 and 7. The strike, being jointly organised by All ...
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PUBLIC OFFER
Andhra Bank `intends' to make second public offer
ANDHRA Bank has informed the stock exchanges on Monday that it `intends' to make a second public offer, subject to regulatory approvals. However, the bank said the size, price and timing of the issue would be communicated separately at the ...
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PEOPLE
Sharma, MD of Bank of Rajasthan
Cross Currency Rates
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