MONEY & BANKING
REGIONAL RURAL BANKS
Meet to review performance of regional rural banks
The Union Finance Minister, Mr P. Chidambaram, will shortly hold a meeting of the Chairmen of 96 Regional Rural Banks (RRBs) to review the performance of these banks. The senior officials of the National Bank for Agriculture & Rural ...
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DIVIDEND ANNOUNCEMENT
Dena Bank pays dividend to Govt
Dena Bank has paid a dividend of Rs 11.74 crore to the Government. The Chairman and Managing Director of the bank, Mr P.L. Gairola, handed over the dividend cheque to the Finance Minister, Mr P. Chidambaram. The bank has posted a net profit of Rs ...
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FOREX
Exporters get interest relief on credit, higher refunds
Special focus on sectors most affected by rupee appreciation
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Rupee sheds 10 paise against dollar
The rupee weakened by about 10 paise against the dollar on Thursday due to dollar buying by banks and major corporate houses. The domestic currency saw a two-way movement today. It opened at 40.38/39 and quickly strengthened to 40.35 which was ...
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FINANCIAL PERFORMANCE
Geojit Fin net rises 71%
Kochi, July 12 Geojit Financial Services Ltd’s net profit has grown by 71 per cent to Rs 12.1 crore (Rs 7.07 crore) for the first quarter of the current fiscal, after making a provision of Rs 4.89 crore for taxes. Income for the quarter ...
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Bajaj Allianz net rises on low-cost biz model
Mumbai, July 12 Bajaj Allianz Life Insurance has reported a net profit of Rs 30 crore in the first quarter of 2007-08, against a net loss of Rs 19 crore in the corresponding quarter of the previous year.The company had reported a profit ...
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LIFE INSURANCE
Biz school, ICICI Pru tie-up
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GENERAL INSURANCE
Life, health… or both?
Life insurance companies are now gearing up to venture into health cover. But are they “fit enough” to meet the expectations of the health insurance sector? In the past, general insurance companies failed to make health into a ...
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SMALL SAVINGS
Kiddy Bank scheme relaunched
Andhra Bank relaunched the Kiddy Bank scheme here on Thursday in the JK Talent school in the MVP Colony. On the occasion, Mr K. Sethuprasad, Deputy General Manager, said the scheme, available to children and teenagers up to the age of 18, was ...
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PRIVATE BANKS
Recoveries, stake sale may boost Federal Bank profit
Chennai, July 12 Federal Bank, which transferred about Rs 500 crore of securities from ‘available for sale’ to ‘held to maturity’ in the first quarter, may take a depreciation hit of Rs 25 crore in the period. However, ...
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Forex processing centre
Karnataka Bank Ltd opened a Central Processing Centre (CPC) for processing forex transactions in Mangalore on Thursday. A bank release said here that Mr Ananthakrishna, Chairman and Chief Executive Officer of the bank, inaugurated the centre to ...
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PUBLIC SECTOR BANKS
Allahabad Bank may raise Rs 500-cr Tier-II capital
Aims at 20% credit growth, 18% deposit growth
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Corpn Bank’s Srikakulam branch
Corporation Bank opened a branch at Srikakulam on Thursday. According to a press release here, Mr Narayana Bhat, Head of the Vijayawada zone said that at present the bank had 34 branches and 3 extension counters in the zone, with deposits of Rs ...
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GOVT BONDS
Bonds remain range bound
Bond prices were range bound as traders were wary of RBI action to sterilise excess liquidity on Friday. Total traded volumes were at Rs 4,855 crore (Rs 5,790 crore). Dealers said that prices opened lower, tracking the hardening in the US 10-year ...
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CREDIT MARKET
Higher advance targets set for agri, SSI, priority sectors
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SHORT TERM INSTRUMENTS
Call rates rule at 0.4-0.6%
Call rates ruled between 0.4-0.6 per cent today, against the previous close of 0.5-0.6 per cent. There were no repo bids in the first or second liquidity adjustment facility. In the first one-day reverse repo auction, the RBI received 42 bids for ...
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