FOREX
Rupee gains 34 paise; bond prices up
BUOYED by strong dollar inflows and a easing in global crude oil prices, the domestic financial markets were on an upswing on Thursday with the rupee appreciating by 34 paise and bond prices rallying by around Rs 1.50 in the debt markets. The ... More

HOUSING FINANCE
IDBI Bank offers 5-year fixed rate home loans
IDBI Bank has launched a housing loan scheme to insulate the consumers from rate hikes, if any, for a period of five years. The `five-year fixed interest rate' product would protect the consumers from the uncertain rate regime, Mr Prakash ... More

PUBLIC SECTOR BANKS
Andhra Bank to vend UTI Mutual products
BUOYED by the strategic alliance entered into with UTI Mutual Fund for the distribution of its schemes, Andhra Bank now expects to record substantial rise in business volumes. It expects to record sales of around Rs 500 crore from selling ... More

BoB on global expansion drive
AS part of its ongoing global expansion drive, Bank of Baroda plans to set up a primary dealership (PD) in debt securities in Mauritius shortly. The bank has had a presence in Mauritius for over forty years. Although the PD is being set up ... More

GOVT BONDS
On-tap sale of State loans next week
THE Reserve Bank of India has said that 23 States have offered to sell 7.32 per cent State Development Loan, 2014 having maturity of 10 years aggregating about Rs 4,000 crore on December 8, by way of tap sale under the normal market borrowing ... More

FIXED DEPOSITS
PNB raises rates on FCNR (B) dollar deposits
PUNJAB National Bank has revised interest rates on Foreign Currency Non-resident (Banks) scheme for dollar, pound and euro deposits with effect from December 2. The rate of interest on dollar deposits has been increased from 2.3 per cent to ... More

Corpn Bank hikes NRE deposit rates
CORPORATION Bank has hiked interest rates on NRE deposits with effect from December 1. A bank release said here on Thursday that the interest rate for tenures of one year to less than two years is 3.50 per cent per annum (3 per cent), two ... More

TRADE & LABOUR UNIONS
AIBOC to oppose merger of banks
MUMBAI: The All-India Bank Officers' Confederation (AIBOC) announced that the unions have decided to strongly oppose the merger and acquisition of banks in any form at the 7th Triennial General Conference of AIBOC, which ended on November ... More

ALLIANCES & JOINT VENTURES
National Insurance joins hands with Birla Sun Life
NATIONAL Insurance Company Ltd (NIC) has tied up with Birla Sun Life Insurance Company (BSLI) for joint product promotions. NIC is the largest non-life insurer in the country. To begin with, the companies will market three product packages ... More