MONEY & BANKING
FARM CREDIT
SBI Tiruchi module gives farm loans
The Tiruchimodule of State Bank of India has extended financial assistance to the tune of Rs 1,021 crore up to March 2006 for agricultural activities, to register a growth of 173 per cent over the budgeted level. It ranked top in ...
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FOREX
Rupee gains against dollar
The rupee was strong against the US dollar tracking the movement of euro and pound against the greenback. Moderate dollar selling by exporters also helped the rupee to strengthen. The domestic currency opened strong 46.42/44, ...
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INSURANCE
IRDA for simpler wording of insurance policy
Draft guidelines on new products
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NBFCS
Peerless eyes asset management space
Indrajit Gupta to head its broking arm
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DEBT MARKET
Bond prices gain in last-hour
Bond prices opened weak and the market was lacklustre in the first half of trade. However, there was buying in the latter half and prices gained in the last hour of trading following the announcement that RBI had transferred ...
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RBI & OTHER CENTRAL BANKS
No collateral for loans up to Rs 10,000 for flood-affected
The Reserve Bank of India (RBI) has asked banks to provide immediate financial assistance to those affected by floods and other natural calamities. As per the instruction issued by the RBI to banks, existing customers of banks affected by ...
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PUBLIC SECTOR BANKS
IOB in currency-swap deal with HSBC
Raises $175 m in yen from European, Asian banks
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BoB to recast Gujarat operations
10-point strategy to expand business
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INTEREST RATES
YES Bank hikes PLR to 13 pc
In the view of recent rate hikes by RBI, private sector bank, YES Bank, has increased its PLR by 50 basis points. The revised PLR is 13 per cent against the earlier 12.5 per cent, said the bank's spokesperson. The total advances of the bank ...
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CRR & BANK RATES
Banks to face penalty on CRR defaults
The Reserve Bank of India has warned banks that they will have to pay penalty in case of default in maintenance of Cash Reserve Ratio on a daily basis. As the interest payable to banks on CRR was withdrawn, the RBI can no longer deduct the ...
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CREDIT MARKET
Banks to give prompt flood relief in AP
Crop is damaged in about 2.12 lakh hectares with a provisional financial loss of Rs 525.66 crore.
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SHORT TERM INSTRUMENTS
Call rates unchanged
Call rates were between 6.00 and 6.10 per cent. In the first one day reverse repo auction under LAF, the Reserve Bank of India received and accepted 22 bids amounting to Rs 27,965 crore and in the second one-day reverse repo ...
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FIXED DEPOSITS
Bharat Overseas hikes deposit rates
Bharat Overseas Bank has increased term deposit rates with effect from August 4. For deposits of one to two years, the rate has been increased to 7.75 per cent from 7.25 per cent earlier. For deposits of two to three years, ...
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MERGERS & ACQUISITIONS
Thomas Cook declares LKP Forex swap ratio
Thai acquisition on the cards
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OVERSEAS INVESTMENTS
PNB plans to set up subsidiary in Canada
Punjab National Bank (PNB) plans to set up a wholly owned subsidiary in Canada, its Chairman and Managing Director, Mr S.C. Gupta, has said. "We will file the papers with the authorities concerned in Canada before the end of next month," Mr ...
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TRADE & LABOUR UNIONS
`Outsourcing' protest
FULL HOUSE: Employees of State Bank of India (Delhi Circle) demonstrating outside the head office in the Capital on Thursday against the issue of `outsourcing' of work. ...
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Central Bank unions strike postponed
The United Forum of Central Bank Unions has postponed its two-day strike scheduled on August 10 and 11. The new dates will be August 22 and 23. The postponement is being done in view of the flood situation in Gujarat, Maharashtra ...
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PEOPLE
When the Guv locked step with the Finance Minister
Mr Jaswant Singh's book `A Call to Honour' has drawn a lot of attention for the heat and dust that the `mole' raised. Of interest to bankers, though, should be a solitary reference to the RBI Governor, Dr Y.V. Reddy, in the index of Mr Singh's ...
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BOOKS
Kakodkar's autobiography to be out today
The former Chairman of the State Bank group, Mr P.G. Kakodkar, said on Thursday that his autobiography, My 40 years with SBI, would be released on Friday (August 11, 2006) in Chennai. Speaking to the media here, Mr Kakodkar said, "It's ...
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