MONEY & BANKING
REGIONAL RURAL BANKS
A Nobel model that links peace and economics
The implication of the Nobel Foundation's selecting Prof Muhammed Yunus for the Peace, and not the Economics Nobel is interesting. The argument is that lifting millions out of poverty will lead to a more peaceful world. And certainly the Grameen Bank network has been an important vehicle of social change.
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COURTS/LEGAL ISSUES
Centurion, LKB merger challenged
A shareholder of Lord Krishna Bank on Wednesday approached the Kerala High Court challenging the decision taken at the AGM of the bank to merge it with Centurion Bank of Punjab. The petition was filed by Mr Umesha Kumar Pai of Ernakulam, who ...
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FOREX
Rupee gains marginally
The rupee gained marginally against a weak dollar on Thursday. Volumes were down ahead of festive season, said dealers. The rupee opened at 45.32/22 and touched a low of 45.36/37 before ending at the opening level. On Wednesday, ...
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FINANCIAL PERFORMANCE
Canara Bank net rises; core banking is driver
To finalise insurance partner by Q3
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Dewan Housing net rises 23 pc
Dewan Housing Finance Ltd (DHFL) has reported a 23.43 per cent increase in net profit at Rs 11.43 crore (Rs 9.26 crore) for the quarter ended September 30, 2006. Total income rose 40.9 per cent to Rs 76 crore (Rs 53.93 crore) while total ...
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IDBI net 6 pc higher in Q2
Other income falls to Rs 192.61 cr; treasury income rises to Rs 650.6 cr
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HDFC net up 23% in Q2
Middle income segment driving home loans growth
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Interest income lifts Kotak Bank net
Robust growth in net interest income has helped Kotak Mahindra Bank Ltd post a net profit of around 12 per cent at Rs 34.8 crore (Rs 31.18 crore) in the second quarter ended September 30, on a standalone basis. Total income has also grown to ...
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NBFCS
AIG Capital gets NBFC licence
AIG Capital India Ltd has received regulatory approval from the Reserve Bank of India to operate as a wholly owned non-banking finance company (NBFC) of American International Group, Inc. This will allow AIG Capital India to ...
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LIFE INSURANCE
Bancassurance pact renewed
Syndicate Bank renewed its bancassurance arrangement with Bajaj Allianz Life Insurance Co Ltd on Thursday for a further period of three years. A Syndicate Bank release said that the MoU renewing the corporate agency ...
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PUBLIC SECTOR BANKS
Indian Bank to sell gold coins
Indian Bank will sell gold coins with Goddess Lakshmi image of 5 gm and 10 gm on the occasion of Diwali. According to a bank press release, other coins of weight 4, 8, 20 and 50 gm would also be sold at their branches in the ...
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Canara sees good pricing for issue
The exercise for placement of the $300 million medium-term note issue of Canara Bank has begun and pricing is expected to be even finer than anticipated. Banking sources said that rating of the issues had begun. Indications were that the ...
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GOVT BONDS
Bond prices flat
The bond market was almost flat. "Market participation was also minimal as traders awaited the Credit Policy," said a dealer at a private bank. Total traded volume on the order matching system was Rs 2,010 crore (Rs 1,595 crore). ...
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SHORT TERM INSTRUMENTS
Call rates up on tight liquidity
Call rates ruled at 6.85-6.95 per cent against 6.75-6.85 per cent on tight liquidity. In the first one-day reverse repo auction under LAF, the Reserve Bank of India received and accepted three bids amounting to Rs 360 crore and ...
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CO-OPERATIVES
RBI cancels urban co-op bank licence
The Reserve Bank of India cancelled the licence of The Bharat Mercantile Co-operative Urban Bank, Hyderabad, on October 17, as all efforts to revive the bank had failed. The RBI also requested the Registrar of Co-operatives Societies (RCS), ...
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