MONEY & BANKING
FOREX
Rupee closes flat
The rupee almost ended flat against the dollar on Tuesday. The domestic currency opened at 44.25/27, but strong dollar buying by public sector banks, on behalf of oil companies, pushed the rupee to 44.34. It could not sustain at ...
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FINANCIAL PERFORMANCE
SBH nets Rs 99 cr in Q3
State Bank of Hyderabad (SBH) has recorded total income of Rs 1,036.41 crore and a net profit of Rs 98.87 crore for the third quarter ended December 31, 2006 as against total income of Rs 799.89 crore and a net profit of Rs 62.11 crore for the ...
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SBT net rises 14 pc in third quarter
State Bank of Travancore (SBT) has recorded an increase of 13.65 per cent in net profit during the first nine months of 2006-07 over the corresponding period the previous year. The net profit rose to Rs 185.82 crore from Rs 163.50 crore last ...
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South Indian Q3 net up 20 pc
The net profit of South Indian Bank has gone up by 20 per cent to Rs 24.84 crore (Rs 20.65 crore) for the quarter ended December 2006. The net profit for the first nine months of the fiscal grew by 136 per cent to Rs 81.56 crore (Rs 34.59 ...
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NBFCS
Peerless Abasan: Betting on merger
What's happening in Peerless Abasan Finance (PAFL) stock? If one goes by the market talk, the loss-making NBFC is on the threshold of a dramatic transformation in business. On Tuesday, 1.71 lakh shares changed hands on expectation that a formal ...
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LIFE INSURANCE
Birla Sun Life partners 6 co-ops
Birla Sun Life Insurance has partnered six cooperative banks — five in Gujarat and one in Orissa — for bancassurance. The insurerwill reach out to about 3.25 lakh bank customers spread across 34 branches of these ...
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GENERAL INSURANCE
TN truckers to join nation-wide strike
The State Lorry Owners' Federation-Tamil Nadu (SLOF-T) has expressed support to the strike called by the All India Motor Transport Congress (AIMTC) from the mid-night of January 20 demanding scrapping of the nearly 150 per cent increase in third ...
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SIDBI, ICICI Lombard tie-up to cover SMEs
Small Industries Development Bank of India (SIDBI) has tied up with ICICI Lombard General Insurance Company Ltd for providing non-life insurance products to SIDBI-assisted units in the Small and Medium Enterprise and Micro-finance sectors. ...
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FINANCIAL POLICY
May both Govt and RBI win!
Liquidity is bound to tighten in coming times, with interest rates moving up all along the curve.
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FINANCIAL MARKETS
`Equity market needs further development for financial reforms'
To effect next generation of financial market reforms, the country will need to take equity market development to a higher level as well as develop and deepen corporate bond markets, according to a joint study by FICCI, World Bank and CRISIL. ...
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PRIVATE BANKS
Karnataka Bank adds 2 branches
Karnataka Bank Ltd has opened two more branches in the country, taking the total number of branches to 403. A bank release said here that the bank opened its 402nd branch at Bilaspur in Chhattisgarh State and 403rd branch at Allahabad in Uttar ...
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PUBLIC SECTOR BANKS
PNB branch shifted
The Punjab National Bank has been shifted its branch at Perinthalmanna to a more convenient place at C.T. Plaza, Ooty Road. Mr N. Subramanian, Senior Regional Manager, Kozhikode region, said that the bank had introduced different ...
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United Bank CBS branch in Kolkata
United Bank of India has rolled out its first CBS (core banking solution) branch in Kolkata on January 15, in the presence of Mr P.K. Gupta, Chairman and Managing Director; Ms Sunanda Lahiri, Executive Director, and other senior ...
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FOREIGN BANKS
BNP Paribas may float NBFC
European banking major BNP Paribas may enter the consumer finance segment in India by floating a non-banking finance company. "Officials from the bank have evinced interest in setting up a consumer finance company here," Mr Ashwini Kumar, ...
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GOVT BONDS
Bond prices gain on value buying
Bond prices edged up by more than 20 paise on value buying. Total traded volumes on the order matching system were Rs 4,055 crore. Market participants are now of the view that the crash in the bond market on Friday was an ...
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CREDIT MARKET
Banks can extend up to Rs 20-lakh education loan
Draft RBI norms on priority lending
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SHORT TERM INSTRUMENTS
Call rates unchanged
The inter bank call rate was unchanged at 8-8.20 per cent. Market participants said that liquidity conditions are likely to remain the same in the next few days. According to agency reports, Mr O.P. Bhatt, Chairman, SBI, said, ...
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ALLIANCES & JOINT VENTURES
Aviva Life, IndusInd tie up
Aviva Life Insurance and IndusInd Bank have tied up as bancassurance partners. The life insurer now has 30 bank partnerships and has increased its presence to 497 locations. A press release quoting Mr Bert Paterson, Managing Director, Aviva ...
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NEW PRODUCTS & SERVICES
ICICI Bank card-based remittance product
To provide a convenient and hassle-free alternative for receiving remittances, ICICI Bank has formally launched a card-based remittance product in Kerala. The remittance card is an Indian Rupee denominated card. It is re-loadable for funding, ...
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