MONEY & BANKING
OVERSEAS BORROWINGS
IDBI raising $1.5 b thru medium term notes
Primary dealer subsidiary opened to focus on core and non-core activities
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FINANCIAL SERVICES
Merrill Lynch invests $11 m in Copal Partners
Copal Partners, a provider of financial research and analytics services to investment banks abroad, on Thursday announced that Merrill Lynch has made $11-million investment in the company. Merrill Lynch joins Deutsche Bank and Citigroup as ...
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FOREX
Rupee gains against dollar
The rupee crept up by around 5 paise against the dollar tracking the bullish domestic stock market. The domestic currency opened at 40.81/83, up from Wednesday's close of 40.98. It touched an intra day low of 40.96/97 but finally ...
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LIFE INSURANCE
ULIPs in vogue thanks to equity investments
`Attracting larger ticket sizes of late'
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GENERAL INSURANCE
Cholamandalam MS expanding branch network in TN
Cholamandalam MS General Insurance Company Ltd (Chola-MS), the Chennai-based joint venture between the Murugappa Group and Mitsui Sumitomo Insurance Group of Japan, is set to expand its branch network in Tamil Nadu. The company, in the last ...
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FINANCIAL POLICY
Rising rupee: The causes and consequences
An important factor in the central bank's policy change allowing a stronger rupee is the rising inflation. But if rupee appreciation continues unabated, exports will suffer. The RBI thus faces a difficult policy choice in according primacy to inflati on control, export growth or capital account convertibility, says ALOK RAY.
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PRIVATE BANKS
KBL targets Rs 500-cr agri credit
Karnataka Bank Ltd (KBL) has proposed to disburse Rs 500 crore fresh credit under agriculture during 2007-08. A bank release said here on Thursday that this was finalised at the `Agri Business Conference 2007' in Mangalore ...
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FINANCIAL INSTITUTIONS
IFC offers $15-m funding for Granules
IFC, the private sector arm of the World Bank Group, today announced an agreement to provide financing for Hyderabad-based Granules India Ltd. The company will use the $15-million investment — loans of up to $9 million and up to $6 million ...
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GOVT BONDS
Bond prices rise 40 paise
The bond prices rose 40 paise and yields for the 10-year paper fell by about 6-7 basis points on Thursday. "The surplus liquidity in the system even after the outflow of cash through various auctions and the advanced tax ...
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CREDIT MARKET
ICICI Bank housing loan growth slows to 20%
Every third customer sees increase in EMI; tenors also rise
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SHORT TERM INSTRUMENTS
Call rates remain steady
Call rates ended at 3 per cent to 3.25 per cent against 2.75 per cent to 3.25 per cent on Wednesday. There were no repo bids in the first liquidity adjustment facility. In the first one-day reverse repo auction, the RBI received ...
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REGULATORY BODIES & RULINGS
IRDA warns of stern action to check exam frauds
"Insurers found to be involved would be debarred from sending their agents for examinations for a pre-determined period of time,'' says IRDA chairman
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ALLIANCES & JOINT VENTURES
Corporation Bank MoU with ICRA
Corporation Bank has signed a memorandum of understanding (MoU) with ICRA Ltd for SME rating. A bank release said here on Thursday that the purpose of the MoU is to enter into an alliance for utilising the services of each other ...
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PUBLIC OFFER
ICICI Bank issue: Sops to retail investors
Price band to be decided on June 17; part payment option for retail bidders
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CO-OPERATIVES
Co-op bank begins SMS banking in Vizag
The Kanakamahalakshmi Co-operative Bank Ltd here introduced SMS banking and customer balance enquiry facilities on Thursday for the benefit of account-holders. Mr K. Ratnakishore, Chairman of the Visakhapatnam Port Trust, who ...
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OUTLOOK
Public sector insurers firm on capital raising plan
Move follows Ministry's objection to their equity float proposal
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PEOPLE
New zonal DGM for Central Bank
Mr K. Subramanian has taken over as Deputy General Manager, Central Bank of India, Hyderabad zone, following the transfer of Mr P.V. Raveendran to Chandigarh. Prior to his current posting, Mr Subramanian was serving in Bangalore, ...
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NEW PRODUCTS & SERVICES
ING Vysya's new savings scheme
ING Vysya Bank has launched a scheme known as `Freedom Savings Account.' The features of the account are a zero quarterly balance requirement and a zero penal charge for non-maintenance of minimum quarterly balance. The ING ...
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