MONEY & BANKING
FOREX
Rupee up 9 paise; securities recover
MUMBAI: The rupee continued its upward trend for the third straight session, as it climbed to end at 44.02/03 on Wednesday against the dollar buoyed by strong FII inflows. The currency finished nine paise stronger than its previous ...
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SOFTWARE
Forex engine from ObjectFrontier
CHENNAI: The Chennai-based ObjectFrontier, an infrastructure product company, has launched instant message (IM)-based foreign exchange workflow engine in collaboration with Indian Overseas Bank (IOB). This Web-based solution is an ...
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PRIVATE BANKS
IDBI Bank in pact with Coal Mines Provident Fund
Through this tie-up, the bank plans to disburse pensions and provident fund payments to 1,25,000 miners all over the country. "With the help of IDBI Bank's online networking of branches across the country and its high-end technology, coal ...
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Lord Krishna Bank gets shareholders' nod to hike capital
IN its bid to shore up its capital base, the Kochi-based Lord Krishna Bank has obtained the shareholders consent to increase its authorised capital from Rs 100 crore to Rs 300 crore. Talking to Business Line, Mr R.M. Nayak, Managing ...
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Karnataka Bank ties up with India Switch
KARNATAKA Bank Ltd has signed an agreement with India Switch Company (ISC), an electronic funds transfer solutions provider, to outsource its network of around 100 ATMs to ISC. A bank release said here that the agreement in this regard was ...
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PUBLIC SECTOR BANKS
Andhra Bank targets Rs 45,000-cr business
BUOYED by the robust growth in credit offtake, Andhra Bank aims at achieving a business volume of Rs 45,000 crore during the current fiscal, representing a 25 per cent growth in business compared to the previous financial year. As the yield ...
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IOB e-banking utsav
FINANCIAL INSTITUTIONS
DCB hikes rates on mortgage products
DEVELOPMENT Credit Bank has announced a hike of 50 to 75 basis points in its mortgage products. Mortgage products of the bank are for house purchase, construction, improvement and others. It has hiked rates on fixed rate home loans by 75 ...
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FIXED DEPOSITS
United Bank hikes deposit rates
UNITED Bank of India has increased interest rates on term deposits effective from Thursday. Deposits with maturity between three years and five years will attract a rate of interest of six per cent as compared to 5.75 per cent previously ...
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MERGERS & ACQUISITIONS
`Mergers will help PSU banks to compete globally: Chidambaram
PITCHING strongly in favour of mergers among public sector banks, the Finance Minister, Mr P. Chidambaram, on Wednesday said that larger size would provide banks the wherewithal to take on international competition and would also enable them to ...
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TRADE & LABOUR UNIONS
Nabard unions to stage march
CO-OPERATIVES
Co-op banks to get Rs 5 cr for promotional activities
NABARD has decided to provide grant assistance of Rs 5 crore to co-operative banks out of its co-operative development fund for publicity measures towards doubling their agriculture credit in three years. The assistance will range between Rs 1 ...
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PEOPLE
Assumes charge
Cross Currency Rates
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