MONEY & BANKING
DIVIDEND ANNOUNCEMENT
BoB pays Rs 59-cr final dividend
Bank of Baroda has paid Rs 58.8 crore to the Centre towards final dividend for the fiscal year 2006-07. The dividend cheque was handed over here to the Finance Minister, Mr P. Chidambaram, by the bank’s Chairman and Managing Director, Mr ...
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INSIGHT
What’s keeping call money rates low?
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An ‘interest’ing climb down ahead
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FOREX
Rupee gains 5 paise against dollar
The rupee strengthened by about five paise against the greenback on Thursday backed by strong dollar supplies into the domestic market. The home currency closed at 40.35/36, up from the previous close of 40.40/41. It opened at 40.38/40 and saw a ...
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INSURANCE
IRDA balking at migration to new solvency norms
Non-acceptance by some insurers; Regulator opts for step-by-step approach
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HOUSING FINANCE
Corporation Bank cuts interest rate on home loans
Mangalore, July 19 Corporation Bank has reduced floating interest rate on ‘Corp Home’ fresh loans of five years and up to/including 15 years, by 25 basis points. A bank release said here on Thursday that floating interest ...
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CONSUMER FINANCE
Divergent views on interest rate impact on auto sales
Chennai, July 19 In a panel discussion organised here by TV channel CNBC AWAAZ, experts from the automobile industry differed over the impact of rising interest rates on automobile sales. Dr Pawan Goenka, President-Automotive, Mahindra ...
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GENERAL INSURANCE
Apollo Hospitals to launch health insurance scheme
Jointly with Germany-based DKV Health Insurance
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Rajan Raheja, Australia’s QBE setting up insurance co
Mumbai, Jul 19 The Rajan Raheja Group (RRG) and the Australian QBE Insurance Group (QBE) have signed a joint venture agreement to establish a general insurance company in India. QBE will hold a 26 per cent equity stake in the joint ...
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PUBLIC SECTOR BANKS
BoB plans to open four new branches
Kolkata, July 19 Bank of Baroda plans to open four new branches in the eastern region as part of centenary year celebrations. Three of these will be located in West Bengal. The fourth will be in Assam. The bank, which plans to offer a ...
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Union Bank office in Abu Dhabi
Union Bank of India has received approval to open a representative office in Abu Dhabi from the central bank of the United Arab Emirates. The bank plans to open the office by December, said a press release. Union Bank had in May 2007 opened its ...
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Bank of India to vend ING products
Mumbai, July 19 Bank of India has entered into an alliance with ING Investment Management to distribute its mutual fund schemes across India. “The bank will offer the entire bouquet of ING mutual fund products through its ...
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INTEREST RATES
‘Interest rates will soften only if deposit rates fall’
We are not desperate for bulk deposits any more: BoB chief
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GOVT BONDS
Bond prices fall on profit taking
Bond prices fell by around 35-60 paise on profit taking. Total traded volumes on the order matching system were at Rs 8,595 crore (Rs 16,285 crore).Dealers said that after prices rallied by around a rupee in the past few days, profit ...
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SHORT TERM INSTRUMENTS
Call rates down at 0.2-0.3%
The inter-bank call rates closed at 0.2-0.3 per cent against the previous close of 0.25-0.45 per cent. The Reserve Bank of India received bids for Rs 1,08,680 crore while it accepted bids to the tune of Rs 3,000 crore through the reverse repo ...
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EVENTS
Contests in Hindi: RBI gives awards to banks
The Reserve Bank of India awarded various banks and financial institutions for participating in essay and other contests in Hindi. The central bank awarded these institutions at the RBI Rajbhasha Prize Distribution function. Speaking at ...
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