MONEY & BANKING
FOREX
Rupee weakens; bonds steady
MUMBAI: The rupee ended weaker on Monday on substantial dollar demand from corporates related to month-end oil payments, dealers said. The currency closed at 43.8450/8550, six paise weaker than previous finish at 43.78/79. Dealers said ...
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GENERAL INSURANCE
Tsunami may hit non-life insurers
THE tsunami strike on the Indian coastline is expected to severely knock the bottomlines of all the domestic non-life insurers, both in the public and private sectors. Sources said that the calamity would spark off a series of claims on ...
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NICL to focus more on product quality, services
QUALITY, quantity, cost and time would be the four main factors that would be closely monitored by the management of National Insurance Company Ltd (NICL) from the next calendar year. This was announced by Mr Bimalendu Chakraborty, General ...
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DEBT MARKET
Hybrid model needed for debt market: CCIL chief
`Corporate debt is almost stagnant and negligible and lacks transparency'.
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RBI & OTHER CENTRAL BANKS
RBI package for tsunami-hit States
THE Reserve Bank of India has announced a relief package for the States devastated by the tsunami disaster and has asked banks to immediately initiate the package of measures in calamity affected areas. Banks have been asked to provide ...
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PUBLIC SECTOR BANKS
Banks in AP told to dole out relief
THE State Level Bankers Committee (SLBC) has directed all the banks to initiate immediate relief measures in the tidal wave affected areas of coastal Andhra on a war footing as per Reserve Bank of India guidelines, according to Mr T.S. ...
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Vijaya Bank opens 891st branch in Hyderabad
HYDERABAD: Vijaya Bank has announced the launch of its 891st branch at Jubilee Hills, Hyderabad. This branch further strengthens the bank's wide-network in the country. This fully computerised branch will offer all loan and deposit ...
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Banks respond
BANKS have started making contributions to the Prime Minister's National Relief Fund. Bank of Baroda has donated Rs 5 crore to the fund. "The bank will provide every support to the affected customers so that they can quickly return to their ...
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CREDIT MARKET
Banking on new avenues
Most credit accounts opened in Kerala go to service the agriculture and personal loan segments, with total amounts rarely crossing the Rs 100,000 mark.
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CREDIT CARDS & DEBIT CARDS
Credit card usage in India still low: Survey
THE Indian credit cards industry is still in a relatively nascent stage when compared to economies in West Asia, a survey by MasterCard International has found. According to the survey results, only 14 per cent of Indians currently own a credit ...
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MERGERS & ACQUISITIONS
BoI, Union Bank boards meet; `merger proposal not discussed'
THE boards of Bank of India and Union Bank of India, which met separately on Monday did not discuss the merger proposal of the two banks, bank officials said. Although there has been media speculation that both banks were meeting to discuss a ...
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Cross Currency Rates
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