MONEY & BANKING
FOREX
Rupee strengthens
MUMBAI: Aided by strong foreign investment flows and a weak trend in the dollar, the domestic currency gained 17 paise on Tuesday to close at 44.63/64. On Monday, the domestic currency had closed at 44.80/81. "One way upward movement of ...
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Rupee climbs further
Aided by strong foreign investment flows and a weak trend in the dollar, the domestic currency closed at 44.63/64 against the greenback on Tuesday, 17 paise stronger than its previous close of 44.80/81. The rupee has appreciated by 40 paise in ...
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LIFE INSURANCE
Kotak Life unveils unit-linked plan
KOTAK Life Insurance today launched Kotak Flexi Plan, a unit-linked insurance plan positioned as a flexible scheme where a customer can modify the cover, choose investment profile and add or withdraw money from investments. Mr Gaurang Shah, ...
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GENERAL INSURANCE
Cholamandalam MS ties up with WIAA
DEBT MARKET
Worst over for Indian bonds
After hovering in a narrow range of around 5.25 per cent, 10-year yields shot up to nearly 6 per cent in June, following remarks of the RBI Governor that interest rates may have to rise. Worsening inflation and shrinking liquidity took their ...
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RBI & OTHER CENTRAL BANKS
RBI directive on `Know Your Customer', money laundering
THE Reserve Bank of India has asked banks to put in place a proper policy framework on the `Know Your Customer' guidelines and `Anti-Money Laundering' measures with the approval of their boards, within the next three months. In a circular ...
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PUBLIC SECTOR BANKS
IOB to raise Rs 150 cr as Tier-II capital
The bank had raised Rs 200 crore in July to augment its resources. The bank's capital adequacy was at 13.47 per cent as of September 2004. Asked about the reason for the fresh proposal to raise capital, Mr S.C. Gupta, Chairman and Managing ...
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OBC not keen on acquisitions
EVEN as the Government is increasingly keen on consolidations in the banking arena aimed at evolving few global sized banking giants, Oriental Bank of Commerce (OBC) that had acquired the ailing Global Trust Bank (GTB) recently is not any more ...
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FOREIGN BANKS
HSBC launches global Net banking channel
"India is one of the fastest growing markets in the Asia-Pacific region for our payments and cash managements business."
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INTEREST RATES
NHB hikes rates on capital gains bonds
NATIONAL Housing Bank has increased rates of interest on its Capital Gains Bonds issue in 2002. The new rates would come into effect from December 1. Accordingly, for a five-year tenor with put/call option at the end of three years for amounts ...
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FIXED DEPOSITS
Syndicate Bank hikes deposit rates
MANGALORE: Syndicate Bank has hiked interest rates on domestic term deposits with effect from December 1, according to a press release from the bank.
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