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FOREX
Rupee closes higher
The rupee saw good two-way movement against the dollar on Tuesday and closed higher at 41.08/09, about 25 paise up from Friday’s close of 41.33/34. The rupee tracked the domestic equity market, which saw continued selling by foreign ... More

INFRASTRUCTURE
Steps for making Mumbai a financial hub soon
New Delhi, Aug. 21 The Finance Ministry will soon initiate steps to catalogue the activities, both legislative and administrative, that need to be undertaken to make Mumbai an International Financial Centre (IFC).The recommendations in ... More

LIFE INSURANCE
SBI Life group insurance plans
SBI Life will shortly launch Dhanaraksha Plus Products, “a sort of umbrella scheme covering a variety of loans such as home loan, car loan and personal loan distributed through a group insurance policy with the lending institution,” ... More

PUBLIC SECTOR BANKS
Canara Bank’s new schemes
Canara Bank has launched two new schemes for high net worth individuals. A bank release said that the schemes branded as SB Gold (savings bank account) and Can-Premium (current Account) come with value added services that include free ... More

Union Bank's Onam gesture
More

Central Bank of India lists at 28% premium
Central Bank of India made its debut on the Bombay Stock Exchange at Rs 130.10, at a premium of 27.54 per cent, against the offer price of Rs 102. It touched a high of Rs 133.25 and a low of Rs 114 on the BSE before closing at Rs 115.4. Total ... More

GOVT BONDS
Bond prices recover
Bond prices recovered by around 15 paise as inter bank call rates showed signs of cooling. Total traded volumes on the order matching system were at Rs 3,665 crore. Prices were range-bound during the day but ended higher than Friday’s close ... More

CREDIT MARKET
Rating agencies: Fence eating the crop?
RBI can take pre-emptive steps here More

‘Higher credit offtake by infrastructure sector in last 2 years’
New Delhi, Aug. 21 Led by roads and ports, power and telecom sectors, credit disbursement by banks to the infrastructure sector has grown in the last two years at 43 per cent and 36 per cent, respectively, according to industry chamber ... More

State Govts’ borrowings get more expensive
Only insurers show appetite for long papers More

CREDIT CARDS & DEBIT CARDS
Bank of India to revamp credit cards business
Appoints KPMG as consultant to explore options More

FIXED DEPOSITS
Central Bank of India hikes deposit rates
Mumbai, Aug. 21 Central Bank of India has increased the interest rates on domestic term deposits of maturity of 180 days and above by 50 to 100 basis points with immediate effect, said a press release from the bank. The revised domestic ... More

ALLIANCES & JOINT VENTURES
ICICI Bank in pact with Korea Exim Bank
Mumbai, Aug. 21 ICICI Bank on Tuesday signed an agreement with Export-Import Bank of Korea for a line of credit of $200 million here. ICICI Bank would use the funds to meet the foreign currency requirements of corporates having business ... More

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