MONEY & BANKING
FINANCIAL SERVICES
ICRA division in pact with Kesdee
ICRA Management Consulting Services (IMaCS) has entered into a strategic partnership with Kesdee Inc, USA, for developing and distributing e-learning solutions for the banking and financial sector in South-East Asia, West Asia, Eastern Europe and ...
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INSIGHT
Banking consolidation must be synergy-driven
Consolidation emerged as a defining characteristic of the modern banking world, primarily to leverage the benefits of large size, expanding and diversifying bank loan portfolios to lessen the likelihood of failure and harnessing core competencies. Bu t consolidation is no panacea for all the ills of banking and size has to be seen as a facilitator rather than an all-inclusive means to efficiency. Given such apprehensions, mergers may be a mixed blessing unless they are market-led and synergy-driv en.
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Claims apart, do banks care for the poor?
IF all goes well, deposit and lending rates of banks may not see much change while the open market quotes for money could see a marginal drop. That may sum up the views of a few bankers purveying credit. The Report on Currency and Finance, ...
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FOREX
Rupee unchanged; bond prices lower
MUMBAI: The rupee ended on Wednesday at 43.70/71 against the dollar, more or less unchanged from the previous closing level of 43.70/72. The currency opened weaker at 43.80 per dollar as the greenback had made gains in the overseas ...
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CREDIT RATING
BHW Birla Home debt rating
NEW DELHI: BHW Birla Home Finance said it has been assigned Crisil's highest safety rating `P1+' for its Rs 30-crore short-term debt programme. "The rating of BHW Birla Home Finance Ltd certainly reflects the benefits of 100 per cent ...
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PRIVATE BANKS
South Indian Bank opens Jaipur branch
THE Thrissur-based South Indian Bank has opened its 421st branch at Jaipur, Rajasthan. This is also the bank's 226th branch offering `Anywhere Banking Facility' to its customers. The Chairman, Mr A. Sethumadhavan, said that the bank, which had ...
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PUBLIC SECTOR BANKS
Corporation Bank to donate Rs 1 crore
CORPORATION Bank has decided to donate Rs 1 crore to the Prime Minister's National Relief Fund. A bank release said here on Wednesday that this decision has been taken considering the large-scale devastation caused by tsunami in the coastal ...
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FINANCIAL INSTITUTIONS
Lenders to exit Spectrum Power; Rolls Royce may follow
IDBI Ltd and its fellow lenders have decided to sell their one-third equity holding in the Andhra Pradesh-based Spectrum Power Generation Ltd (SPG). They are expected to appoint SBI Caps to find a buyer, an institutional source told Business ...
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CREDIT MARKET
Banks in Kerala disburse Rs 7,483 cr to priority sector
COMMERCIAL banks in Kerala have disbursed Rs 7,483 crore to the priority sector during the current financial year. This is 46.79 per cent of the disbursement target of Rs 15,995 crore in the current year, says a press release issued after the ...
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FIXED DEPOSITS
Bank deposits losing appeal for NRIs
`As long as the threat of income-tax persists, the NRIs would continue to defer their savings programmes in India.'
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REGULATORY BODIES & RULINGS
IRDA lets banks take agency licences; pvt cos kept out
IN what could unleash a fresh wave of bancassurance tie-ups, the Insurance Regulatory and Development Authority (IRDA) has partially lifted the moratorium on grant of fresh corporate agency licences by opening the licencing window for the banking ...
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Cross Currency Rates
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