MONEY & BANKING
FARM CREDIT
TAFE, City Union Bank enter into tie-up
Easy, quick finance for farmers buying tractors
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OVERSEAS BORROWINGS
‘External debt data not worrisome’
Thiruvananthapuram, Sept. 28 Economists do not seem to be too perturbed by the external debt data put out by the Reserve Bank of India. Total external debt amounted to $165.4 billion as of June 2007, recording an increase of $8.7 ...
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FIIs, ECB loans buoy capital flows
NRI deposits turn unattractive; net FDI receipts lower
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REGIONAL RURAL BANKS
Pandyan Grama Bank ‘has no NPAs’
Pudukottai, Sept. 28 Pandyan Grama Bank, the regional rural bank of Indian Overseas Bank, has registered a record achievement of zero non-performing assets (NPAs) for the past five years, its Chairman, Mr E. Sundararaju, said ...
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INSIGHT
Autonomy goes with accountablilty
Financing infrastructure development
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FOREX
NRI remittances rise 50% in Q1, non-oil imports up 47%
Current account deficit increases marginally to touch $4.697 billion
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Forex reserves rise $3.7 billion
Mumbai, Sept 28 The forex reserves surged by $ 3.704 billion to touch $ 235.891 billion for the week ended September 21, due to currency revaluation and the central bank’s buying of dollars to stem the appreciation in rupee.In the ...
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HOUSING FINANCE
State Bank of Patiala cuts home loan rates
New Delhi, Sept. 28 State Bank of Patiala has reduced interest rates on fresh housing loans from 11.25 per cent to 10.5 per cent (floating) for a period above 5 years and up to 20 years. It has also fully waived the processing fee on such ...
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LIFE INSURANCE
Max Life, district co-op bank tie up
Max New York Life (MNYL) and the District Cooperative Central Bank Ltd, Mahabubnagar, today announced a strategic referral tie-up. MNYL will utilise the branch network of the district bank to sell its life insurance products. The tie-up with the ...
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FINANCIAL MARKETS
FIIs, ECB loans buoy capital flows
NRI deposits turn unattractive; net FDI receipts lower
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‘No severe sub-prime effect thanks to regulations’
IMF report on financial market discipline
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HUMAN RESOURCES
Union Bank promotions
Union Bank of India has decided to speed up promotions for officials in the executive cadre. This would ensure that executives at a senior level have sufficient tenure with the bank, said a press release from the bank.The fast track ...
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PRIVATE BANKS
Catholic Syrian AGM passes all resolutions
Kochi Sept. 28 The AGM of the Catholic Syrian Bank has declared a dividend of 15 per cent for the year 2006-07. All the resolutions, which came up for approval before the AGM, were passed unanimously. As there were five contestants for ...
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CREDIT MARKET
SKS launches operations in Gujarat
SKS Microfinance Private Ltd has launched its operations in Gujarat by starting activity in Dahod district, which is among the 200 poor districts in the country. “We will also expand to Banaskantha, Dang, Narmada, Panch Mahal and Sabar ...
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YES Bank to focus on SMEs
Chennai, Sept. 28 YES Bank has a bouquet of business plans — opening 56 more branches before March, starting an asset reconstruction company (ARC), floating a couple of private equity funds, a micro-finance company and an investment ...
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TRADE & LABOUR UNIONS
Merger of PSU insurers sought
Kochi, Sept. 28 The General Insurance Officers All India Association has urged the Union Government to form a single corporation amalgamating the four public sector general insurance companies – United India Insurance, New India ...
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EVENTS
‘Innovations in functioning of self-help groups needed’
Some innovations in the style of functioning of self-help groups (SHGs) may help wipe out poverty in India, according to Mr B. Pramod, Senior General Manager of Syndicate Bank. Inaugurating a seminar on microfinance, organised by the ...
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