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Wednesday, February 08, 2006
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MONEY & BANKING

FINANCIAL SERVICES


`Certified Financial Planner curriculum relevant for competent performance'
NEARLY 95 per cent of the CFP (Certified Financial Planner) education programme's curriculum is relevant for competent performance of professionals in the financial services sector, a survey conducted by Financial Planning Standards Board India ... More

INSIGHT


Oil fall will translate to higher stocks, lower bonds
THE bull run in oil has endured for around a year now. Buoyed by rising demand the world over, tensions in West Asia, and the projections of leading investment banks such as Goldman Sachs (which created a sensation last year predicting $100 oil), ... More

FOREX


Rupee firms up; securities weak
MUMBAI: The rupee gained against the dollar on Tuesday due to good inflows into the domestic equity market and a strengthening yen. The rupee opened at 44.28/30 and ended at 44.21, higher than Monday's close of 44.23/24. According to ... More

LIFE INSURANCE


FBT hits insurance cos' group business
Insurance companies say that superannuation schemes are either being discontinued or the decision regarding renewal has been kept on hold until the upcoming Budget. More

PRIVATE BANKS


KVB's no-frills account
COIMBATORE: Karur Vysya Bank has launched a `no-frills' Kalpataru SB account from February 1. The SB account can be opened at its rural and semi-urban branches with a balance of Rs 50. ... More

PUBLIC SECTOR BANKS


BoM hikes coupon rate on Tier-II bonds
BANK of Maharashtra has increased the rate on its Tier-II bond issue, by 20 basis points from 7.5 per cent to 7.7 per cent. This is in line with the increase in the reverse repo rate by 0.25 percentage points, said a senior official of the ... More

Indian Bank plans new products to increase business volumes
INDIAN Bank proposes to launch several new services and products to significantly increase business volume as well as profitability, even while it eyes an annual growth of at least 20 per cent. The bank has a network of 1,389 branches and 266 ... More

INTEREST RATES


IOB hikes NRE deposit rates
INDIAN Overseas Bank has raised its NRE (non-resident external) term deposit rates by 10 basis points with effect from February 1. The revised rate is 5.70 per cent for deposits accepted for one year to less than five years. IOB has foreign ... More

MERGERS & ACQUISITIONS


IOB board to meet on Feb 14 on buying out Bharat Overseas
INDIAN Overseas Bank (IOB) plans to buy out the stake held by six other banks in Bharat Overseas Bank. IOB has called for a meeting of its board of directors on February 14 to consider a proposal to buy other shareholders of Bharat Overseas ... More

EVENTS


Academia urged to discuss policy issues on banking
THE Reserve Bank of India organised a discussion on `Trend and Progress of Banking in India' here on Monday. Inaugurating the discussion, Dr N. Krishna Mohan, Regional Director (RBI) for Kerala and Lakshadweep, highlighted the consultative ... More

`Banks must focus on other income'
THE Chairman and Chief Executive Officer of Karnataka Bank Ltd, Mr Ananthakrishna, has said that the banks are under stress with avenues for earnings getting narrowed down by the `not-so-attractive' income from treasury operations. Speaking at ... More

SOCIETY & DEVELOPMENT


Syndicate Bank donation
MANGALORE: Syndicate Bank has donated Rs 10 lakh for the improvement of facilities at Udupi railway station, according to a press release by the bank's General Manager's office in Udupi. The Railway Yatri Sangh of Udupi had requested the ... More



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