MONEY & BANKING
SOCIAL SECURITY
Indians take to insurance spending in a big way
Raising resources poses a challenge for the industry
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FOREX
Rupee gains against dollar
The rupee appreciated by around 7 paise against the dollar on Tuesday tracking the gains made in the stock market. The currency opened at 40.56/57 and touched an intra-day low of 40.62. It finally closed at 40.48 against the previous close at ...
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INFORMATION TECHNOLOGY
Lakshmi Vilas goes live with RTGS
Lakshmi Vilas Bank has gone live with RTGS (Real Time Gross Settlement) transactions across its 120 Core Banking Solution enabled branches. This facility would enable LVB customers in faster transfer funds between banks, better fund and liquidity ...
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STOCKS
Bank stocks shine as Sensex gains 165 points
Mumbai, Sept. 18 The market, which began the week on a positive note, continued the trend on Tuesday with the Sensex gaining 165 points to close at 15,669.12. Bank stocks were active with the banking index going up by 2.47 per cent on ...
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GENERAL INSURANCE
Munich Re Group for branch office
Talks on for insurance joint ventures
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PUBLIC SECTOR BANKS
SBH on deposit drive
State Bank of Hyderabad, celebrating "Deposit utsav" during September, has so far mopped up Rs 1,250 crores against the target of Rs 3,500 crores, according to Mr V. Narendra Babu, the Deputy General Manager. At a press meet here on Tuesday, he ...
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INTEREST RATES
IDBI cuts fixed home loan rates
Mumbai, Sept. 18 IDBI Ltd cut the interest rates on fixed home loans by about 100 basis points with effect from September 1. However, the floating interest rate continues to remain unchanged. The bank has also increased rates on fixed deposits ...
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Fed will go 50 bps
As this is being written, the all-important meeting of the Federal Open Market Committee (FOMC), which decides on US interest rates, looms ahead.Far more than the usual excitement (and, it must be said, anxiety) are preceding this FOMC ...
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SHORT TERM INSTRUMENTS
Call rates close lower
The inter bank call rates closed lower at 6.20 -6.40 per cent (6.25-6.75). In the reverse repo auction under the Liquidity Adjustment Facility, the RBI received and accepted four bids for Rs 3,320 crore. The CBLO market saw 492 trades aggregating ...
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MORTGAGE
Plan to set up control registry for mortgage loans in Karnataka
Bangalore, Sept. 18 The State Level Bankers Committee (SLBC) has initiated work on setting up a control registry for mortgage loans. Speaking at the SLBC meeting here today, the Syndicate Bank Chairman and Managing Director, Mr C.P. ...
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MERGERS & ACQUISITIONS
Merger move opposed
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TRADE & LABOUR UNIONS
‘Cooperative banks deteriorating across country’
Representatives of the Co-operative Bank Employees’ Union plan to stage a dharna in front of Nabard offices and other places on Wednesday. The proposed dharna, which is at the call of the ...
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EVENTS
Govt must exit all but SBI: Meghnad Desai
Mumbai, Sept.18 Indian banks would be able to face foreign competition only if the government brings down its equity stake in them to zero. This would put Indian banks on a level playing field with foreign banks post-2009, said Lord Meghnad ...
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Insurance going places
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PEOPLE
Vinayak Chatterjee resigns from IFCI board
New Delhi, Sept. 18 The stake sale process in IFCI Ltd and the related corporate governance issues has led to yet another board level resignation, with Mr Vinayak Chatterjee, Chairman of Feedback Ventures, on Tuesday resigning from the board ...
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New Tata Capital MD
Mr Praveen P. Kadle, Executive Director (Finance and Corporate Affairs) of Tata Motors, has been appointed as Managing Director of Tata Capital with immediate effect. Tata Capital is a new company promoted by Tata Sons, which will be the main ...
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