MONEY & BANKING
FARM CREDIT
PNB agri credit disbursals rise 85 pc in Kerala
Mr S.P. Singh, Zonal Manager of Punjab National Bank (PNB), Kerala Zone, has said that disbursement under the Special Agricultural Credit Plan for the half-year ended September has risen by 85 per cent over last year. The loans disbursed ...
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OUTSOURCING
`Insurance cos may move to outsourcing in next 15 years'
IBM study sees gradual demise of agency channel
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INSIGHT
Innovative instruments to raise banking capital
Known as hybrid instruments, these have characteristics of both equity and debt capital.
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Remembering Hasmukhbhai T. Parekh — The man who gave people a home
Adopting a management style "marked by large-heartedness and human considerations," Hasmukhbhai T. Parekh made ICICI and HDFC "the springboard for the country's development in new areas of social progress." On the 12th anniversary of his passing, R. M. LALA, pays tribute to the person who helped lakhs of Indians realise their dreams of owning a home.
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FOREX
Institutions kept $10 b in dollar bonds in Sept
Sizeable shift to bank deposits, cash balances
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Forex reserves up by over $1.1 b
Forex reserves jumped by $1.168 billion to $168.284 billion for the week ended November 10, mainly due to a rise in foreign currency assets. In the previous week, forex reserves increased by $24 million to touch $167 billion. Foreign currency ...
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Rupee unchanged against dollar
The rupee was almost unchanged against the greenback on Friday as demand was offset by the supply of dollars. Dealers said the domestic currency opened at 44.94/96 and touched an intra-day low of 45.07. It then edged up to close ...
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INFORMATION TECHNOLOGY
Dena Bank picks Wipro Info to centralise operations
Rs 304-crore contract for core banking, outsourcing
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LIFE INSURANCE
Kotak Life's new product
Kotak Mahindra Old Mutual Life Insurance has launched Sukhi Jeevan, an insurance product targeted at semi-urban and rural customers. This is a long-term savings and protection life insurance plan offering regular bonuses.The policy offers the ...
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ICICI Pru H1 premium up 143 pc
ICICI Prudential Life Insurance's new business weighted premium has grown 143 per cent in the first half to Rs 1,626 crore (Rs 668 crore). New business weighted premium gives only 10 per cent weightage to single premium. The ...
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CREDIT RATING
A1+ rating to GE Capital
ICRA has reaffirmed credit rating of A1+ to GE Capital Transportation Financial Services Ltd. The rating applies to the increased size, Rs 700 crore, of the company's commercial paper programme, from Rs 500 crore earlier. ...
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FINANCIAL INSTITUTIONS
IRFC to mobilise Rs 500 cr thru bonds issue
The Indian Railway Finance Corporation (IRFC) plans to raise Rs 500 crore through a bond issue over the next few days. It also plans to raise $200 million through external commercial borrowings in January next year. IRFC, a public sector ...
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GOVT BONDS
Bond prices gain
Bond prices gained due to strong demand after the profit booking on Thursday. The announcement of the auction of government securities worth Rs 5,000 crore also did not dampen market sentiments, said dealers. The RBI will auction ...
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SHORT TERM INSTRUMENTS
Call rates between 7 and 7.1 pc
Call rates ruled between 7 per cent and 7.1 per cent against 7.1 and 7.2 per cent on Thursday. In the first three-day reverse-repo auction and repo auction under LAF, the RBI received and accepted one bid for Rs 100 crore. In ...
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FIXED DEPOSITS
Bankers propose gold-based deposit scheme
Indian Banks' Association may submit proposal to RBI for approval
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Vijaya Bank may hike deposit rates
Mr Prakash P.Mallya, Chairman and Managing Director of Vijaya Bank, has hinted that the bank may hike interest rates of short-term deposits shortly. Addressing press persons here, he said probably the bank would take a decision in this regard ...
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SOCIETY & DEVELOPMENT
Citigroup takes up community work
Over 1,500 Citigroup India employees spread across 35 towns and cities will participate as volunteers in various community initiatives in the country on Saturday, as part of Citigroup's global community day initiative. Citigroup is partnering ...
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OUTLOOK
Banks may get more capital market exposure
Banks may get more headroom for their capital market exposure when the modified Reserve Bank of India guidelines come into force from January 2007. A draft circular issued by the RBI on Friday said the aggregated capital market exposure of ...
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