MONEY & BANKING
FOREX
The dragon's trillion
China's forex reserves, largely denominated in dollars, recently crossed the trillion-dollar mark, reflecting the ground reality that most Asian countries are forced to augment their reserves as a consequence of global imbalances in trade and finance . Maintaining its present economic policy, can China play a part in mitigating these imbalances?
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Rupee gains marginally
Rupee gained by almost four paise on Thursday tracking the yen's movement against the dollar. "The rupee strengthened on strong FII inflows into the domestic equity market," said a dealer at a private bank. The currency opened ...
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INSURANCE
3i Info tool for ACE Asia Pacific
3i Infotech said that ACE Asia Pacific, a player in the insurance and reinsurance space, will implement 3i Infotech's PREMIA{trade}, an integrated insurance management solution for its small /medium enterprise (SME) and personal ...
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FINANCIAL PERFORMANCE
DHFL posts 45% rise in net
Dewan Housing Finance Corporation Ltd (DHFL) has posted a 44.91 per cent rise in net profit to Rs 13.52 crore for the third quarter ended December 31, 2006 against Rs 9.32 crore in the corresponding quarter of the previous year. Total income ...
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Union Bank Q3 net up 11.8 pc
Union Bank of India has reported growth of 11.8 per cent in third quarter net profit to Rs 255.84 crore from Rs 229.08 crore in the corresponding previous period. Mr M.V. Nair, Chairman and Managing Director, said that the bank had seen an ...
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Federal Bank net rises 17 pc to Rs 84 cr in Q3
Reduces dependence on bulk deposits
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State Bank of Bikaner net at Rs 78 cr
State Bank of Bikaner and Jaipur (SBBJ) has reported a net profit of Rs 77.85 crore (Rs 52.39 crore) for the quarter ended December 2006. While its net profit rose by 48.6 per cent over the corresponding quarter of the earlier fiscal, its total ...
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Bank of Maharashtra PAT up 178 pc
Bank of Maharashtra posted 178 per cent growth in net profit for the quarter ending December 2006, up at Rs 74.32 crore against Rs 26.75 crore for the corresponding quarter last fiscal. The operating profits at Rs 171.34 crore were up 48.29 per ...
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HOUSING FINANCE
LIC Housing Fin trimming NPAs
Plans tie-ups with realty cos
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LIFE INSURANCE
HDFC Standard Life regional office
HDFC Standard Life Insurance today inaugurated its regional office here. The region currently has 14 branches. HDFC Standard Life is planning to open 30 new branches in the South, said Mr Paresh Parasnis, GM ...
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ICICI Prudential, DSCL arm tie up
ICICI Prudential Life Insurance has tied up with Hariyali Kisaan Bazaar, the rural business arm of DCM Shriram Consolidated Ltd (DSCL), for distribution. As a partner, Hariyali Kisaan Bazaar can distribute ICICI Prudential's ...
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GENERAL INSURANCE
Lower tariff hike to stress motor insurance pool
Premium cut unlikely now for non-commercial sector
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HUMAN RESOURCES
Bank of India redeploying employees
After Bank of India introduced core banking software, many employees became redundant. The bank redeployed about 1,200 of them into marketing. Since mid-2005, these employees have been seeking low cost deposits. It was chiefly due to this that ...
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PRIVATE BANKS
SIB shifts branch premises
South India Bank has shifted its overseas branch in Tirupur to Arukkaniammal Tower (First Floor), Binny Compound Kumaran Road. The bank has in a communication said that the commercial branch operated in the adjacent premises. ...
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PUBLIC SECTOR BANKS
Bank of Baroda launches E-trading
Bank of Baroda has tied up with India Infoline to offer an online-trading service, `Baroda E-trading'. "The bank has entered into an alliance with India Infoline for providing a brokerage platform, besides research and ...
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GOVT BONDS
Bond prices unchanged
Bond prices were almost unchanged as traders were uncertain ahead of the government securities auction. Total traded volumes on the order matching system were Rs 1,180 crore (Rs 2,875 crore). Traders were jittery ahead of the Rs 5,000 crore ...
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SHORT TERM INSTRUMENTS
Call rates at 7.8-8%
Call rates ruled at 7.8-8 per cent against Wednesday's close of 7.75-7.85 per cent. In the first four-day reverse-repo auction under LAF, the RBI received and accepted three bids for Rs 45 crore and in the first four-day repo ...
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MERGERS & ACQUISITIONS
No merger of RRBs with parent bank: Chidambaram
Says they will have to fulfil the objectives for which they were set up
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