MONEY & BANKING
COURTS/LEGAL ISSUES
ICICI Bank fined Rs 2.2 lakh by HK court
ICICI Bank has been fined Rs 2.2 lakh by the Eastern Magistrate's Court, Hong Kong, for dealing in securities (mutual funds and other fee-based products) without a licence between June 15, 2004 and March 8, 2006, at its Hong Kong branch. The ...
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FOREX
Rupee weakens 4 paise
Exporters may be facing a difficult situation with the rupee continuing to be in the 42 range against the dollar for the fourth consecutive day. The domestic currency weakened by around 4 paise but still remained close to the ...
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LIFE INSURANCE
Bharti AXA Life trying out Shopassurance model
Tie up with Bharti Retail, FieldFresh Foods
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CREDIT RATING
This CAMEL is worth the ride
While making the rating of IPOs mandatory, SEBI ought to have mandated scrutiny of the issue price as well.
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PRIVATE BANKS
Yes Bank pact for agri insurance
Yes Bank has entered into a bancassurance partnership with Agriculture Insurance Company of India (AIC) for distribution of agriculture insurance products. "The partnership envisages that AIC would, on best effort basis, offer ...
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PUBLIC SECTOR BANKS
Banks want savings deposit rate hiked
Move will expand base of low-cost deposits
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Financial inclusion in Kodagu
Chikmagalur district to be covered soon
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Union Bank ramping up bullion biz
Union Bank of India plans to ramp up its retail bullion business. "The bank conducted a test run in October 2006 for gold coins and was a huge success," said Mr S. Rajendran, Deputy General Manager, International Banking ...
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INTEREST RATES
More banks hike lending rates
Punjab National Bank (PNB), the country's second largest public sector bank, has increased its benchmark prime-lending rate (PLR) by 75 basis points to 13 per cent. The hike would be effective from April 16. However, no decision has been ...
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GOVT BONDS
Bond prices decline 20 paise
Bond prices fell by about 20 paise and yields advanced by three basis points as traders booked profits ahead of the Rs 10,000-crore auction tomorrow. Liquidity was comfortable in the banking system as banks offered to park over ...
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SHORT TERM INSTRUMENTS
Call rates cool down to 3.5%
The inter-bank call rate cooled to 3.5 per cent after scaling a peak of over 75 per cent-in the last week of March. While RBI was lending over Rs 30,000 crore to banks in March, the central bank is now receiving bids from banks to place an ...
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FIXED DEPOSITS
ABN AMRO hikes deposit rates
ABN AMRO Bank has hiked the interest rate on fixed deposits to 10.25 per cent from 8 per cent, effective April 9. The revised rate will be applicable on deposits (minimum of Rs 10,000) with a tenor of 400 and 188 days. The bank ...
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MERGERS & ACQUISITIONS
Overseas, domestic players keen on IFCI stake buy
Interest sparked by prospect of 51 pc acquisition, management rights
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TRADE & LABOUR UNIONS
Merger of SBI associates opposed
The All-India State Bank Officers' Federation is opposed to the proposal to merge the four subsidiaries in the State Bank of India, "as it is a retrograde one which will lead to reduction in the number of branches and other undesirable ...
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