MONEY & BANKING
OUTSOURCING
The case for outsourcing banking services
With regulation, public sector banks, can become more effective in servicing the priority sector.
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FOREX
Re recoups against dollar
The rupee recovered its losses against the dollar in tandem with the strengthening of other major currencies. The US Fed Governor's dovish signal on interest rates drove the dollar down against all major currencies. The euro ...
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Sensex gains 345 on day of rebound
Markets snap losing streak on back of rising global indices, easing crude prices
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INSURANCE
Opportunities for foreign actuaries in India
Salary almost on par with developed countries
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FINANCIAL PERFORMANCE
Canara Bank Q1 net up marginally at Rs 191 cr
Impact of large provisions on account of depreciation of investments
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Union Bank net declines 30 pc on higher provisioning
Union Bank of India's net profit was 30 per cent lower at Rs 166.81 crore for the quarter ended June 30, against Rs 240.39 crore in the previous quarter, due to higher provisioning. Total income was Rs 1,830.72 crore (Rs 1,491.45 crore). Net ...
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Kotak Mahindra Bank net up 21%
`Rise due to better margins'
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LIFE INSURANCE
New products from HDFC Standard
HDFC Standard Life has introduced three new products as per the new unit-linked guidelines (ULIP). These are — HDFC Unit Linked Endowment Plus, HDFC Unit Linked Young Star Plus, and HDFC Unit Linked Pension Plus. The new ...
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CREDIT RATING
ICICI Bank's rating upgraded
Moody's Investors Services has upgraded ICICI Bank's financial strength to `C-' from `D+' based on the bank's improving financial position and its enhanced retail franchise. The rating change takes into account the bank's dynamic ...
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DEBT MARKET
Bond prices up on Fed signals
The US Fed Governor's signals about a possible pause in the interest-rate tightening cycle brought cheer to the domestic bond market. Prices gained by around 25 paise. Dealers said that the possibility of the postponement of the ...
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PUBLIC SECTOR BANKS
BoB posts 45 pc growth in international operations
Bank of Baroda has posted a 45 per cent growth in its international operations for the quarter ended June 30. The bank has recorded 52 per cent rise in credit and 55 per cent increase in deposits for its international operations for the quarter ...
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Corpn Bank Q1 results on July 29
The first quarter results of Corporation Bank will be announced on July 29. A bank release said here on Thursday that a meeting of the board of directors of the bank would be held on July 29 to consider, amongst others, the ...
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CREDIT MARKET
Retail loan factories
THE CHAIRMAN and Managing Director of Bank of Baroda, Dr Anil K. Khandelwal, with cricketer and the bank's brand ambassador Rahul Dravid at a press conference in Mumbai to launch retail loan factories at Jaipur, Pune and Surat. The factories ...
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Karnataka Bank in financing pact
Karnataka Bank Ltd has signed a memorandum of understanding (MoU) with New Holland Tractors (India) Pvt Ltd for financing tractors and other farm equipment manufactured by the company. A bank release said here on Thursday that ...
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SHORT TERM INSTRUMENTS
Call rates remain unchanged
Call rates remained unchanged between 5.75 and 5.85 per cent. In the first one-day reverse repo auction under LAF, the RBI received and accepted 29 bids amounting to Rs 25,465 crore and in the second one-day reverse repo ...
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OVERSEAS INVESTMENTS
Canara Bank to set up branch in Hong Kong
The Hong Kong Monetary Authority (HKMA) has approved Canara Bank's application for opening a branch in the region. Speaking to Business Line, the Canara Bank CMD, Mr M.B.N. Rao, said, "This branch will give a beach head for Indian trade ...
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TRADE & LABOUR UNIONS
Bank staff plan strike on July 28
The All India Bank Employees Association, All India Bank Officers' Association and Bank Employees Federation of India have called for a one-day token strike on July 28. About 4.5-lakh bank employees and officers who are members ...
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STANDARDS & BENCHMARKS
Basel-II accord: KPMG to assess banks' preparedness
KPMG has embarked on a survey of the banking system in the country to assess the level of preparedness of banks in meeting with the requirements of the Basel-II Capital Accord. "The survey would look at the state of preparedness and also see ...
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