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Thursday, January 06, 2005
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MONEY & BANKING

FOREX


Rupee falls
ALMOST in tandem with the fall in the domestic equity market, the rupee dropped by 30 paise in its value against the greenback on Wednesday, its sharpest fall over the past few weeks. The domestic currency fell to 43.85 per dollar before ... More

Rupee, bonds fall sharply
MUMBAI: Dragged down by a fall in the domestic equity markets and a hardening in international crude prices, the rupee plunged by around 30 paise, touching the 43.85 levels to a dollar on Wednesday. The domestic currency closed the day ... More

LIFE INSURANCE


SBI loan package for travel to Singapore
STATE Bank of India (SBI) has drawn up a specially packaged loan scheme making a holiday in a foreign destination, Singapore to begin with, highly affordable. What one needs to pay for visiting Singapore is just Rs 467 to Rs 550 per month for ... More

DEBT MARKET


On-tap sale of 20 State Govt bonds on Jan 11
THE Reserve Bank of India has said that 20 State Governments have offered to sell 7.02 per cent State Development Loan, 2015 having maturity of 10 years for an amount of Rs 6,000 crore on January 11 by way of tap sale under the normal market ... More

PUBLIC SECTOR BANKS


Syndicate Bank to cut interest rate for tsunami victims
SYNDICATE Bank has announced a reduction in interest rate on priority sector loans taken by tsunami victims. A press release by the regional office of the bank said here on Wednesday that interest rate on housing loan, which is availed of by ... More

Union Bank to sell Principal MF products
PRINCIPAL PNB Asset Management Company has tied up with Union Bank of India for distribution of their mutual fund schemes. This tie-up will enable Principal to distribute its mutual fund schemes through Union Bank of India's 2,020 branches, ... More

CREDIT CARDS & DEBIT CARDS


Bank of India launches global gold credit card
BANK of India on Wednesday launched an international gold credit card in association with Visa International. With this card, cardholders can access cash at over 8,10,000 ATMs in the Visa Global ATM network and at over 1,00,00,000 merchant ... More

MERGERS & ACQUISITIONS


ChrysCap to invest in Shriram group cos
CHRYSCAPITAL III LLC, Mauritius, is likely to pick up a 20.6-per cent stake each in three Shriram group companies — Shriram Investments, Shriram Transport Finance and Shriram Overseas Finance. All three are non-banking finance companies, ... More

Bank of India in talks to buy Indonesian bank
BANK of India is exploring the possibility of an overseas acquisition and is also considering raising around $200-$300 million by way of medium term notes next year, to fund its global expansion plans. In countries where it is more expensive to ... More

TRADE & LABOUR UNIONS


Bank mergers: Unions chart protest plan
THE United Forum of Bank Unions (UFBU) has drawn up an agitation programme to protest the proposed consolidation in the banking industry. Meetings with members of Parliament have also been lined up. The consolidation plan, which is said to be ... More


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In Depth

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Looking back
Dec. 26-Jan. 1
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RBI package for tsunami-hit States

Claims apart, do banks care for the poor?

2004: A mixed bag for banks

Treasury profits decline for banks, FIs, insurers — Dividend receipts may take a hit


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