Forex reserves rise by $1.71 b
The forex reserves have surged by $1.71 billion due to dollar buying by the Reserve Bank of India as well as the revaluation of other major currencies against the greenback. According to the RBI's Weekly Statistical Supplement, the reserves ...
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Oriental Bank hikes PLR by 50 bps
The Oriental Bank of Commerce (OBC) has hiked its prime lending rate (PLR) by 0.5 per cent from 11 per cent to 11.5 per cent with effect from May 15, 2006. The bank has also hiked its interest rates on FCNR (Foreign Currency Non-Resident) ...
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FIXED DEPOSITS
TMB hikes deposit rates
Tamilnad Mercantile Bank (TMB) has revised upwards interest rates on domestic term deposits from May 8 for all maturities . It has introduced a new maturity slab of "3 years and above" in lieu of five years and above category. For senior ...
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TRADE & LABOUR UNIONS
Urban co-op bank staff on a day's strike
All urban co-operative banks in the country observed a token one-day strike to protest against the withdrawal of tax deduction made available to UCBs on profits derived from the banking business under Section 80(p) of the Income Tax Act. The ...
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