MONEY & BANKING
FINANCIAL SERVICES
Portfolio investments see sharp rise in April-Sept
Mumbai, Dec. 31 Portfolio investments saw a sharp increase in April-September 2007 and comprised a major chunk of the total foreign investment, according to the Balance of Payment data released by the Reserve Bank of India on Monday. There was ...
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FOREX
An expert view on current account deficit
Mumbai, Dec 31 Dr Ajit Ranade, Chief Economist, AV Birla group, runs through the latest Balance of Payments figures for Business Line.If you take the trade deficit and annualise it, it goes up to $80 billion which is ...
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Rupee gains marginally
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INSURANCE
IRDA chief’s wish-list for 2008
Mr C.S. Rao, Chairman, IRDA, says: “I want the insurance cover to be extended to more and more people in the New Year. There should be a wider range of products and information which will help them make a right choice in choosing the ...
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SMALL SAVINGS
CorpBank CMD on the year ahead
Chennai, Dec 31 “Follow prudent habit of saving and spending which would ensure a healthy financial future. For those people who work hard and earn income, money should also work hard. Money can work hard through financial planning, and ...
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FINANCIAL MARKETS
Rupee to see choppy trade in 2008
Capital inflows into the markets will determine its movement
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RBI & OTHER CENTRAL BANKS
NRI remittances stay buoyant
Current account deficit at $5.5 b in September quarter; exports slow down
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PUBLIC SECTOR BANKS
Indian Bank not to offload surplus SLR bonds now
Indian Bank has no immediate plans to offload in the market its surplus SLR bonds worth Rs 4,300 crore, its Chairman and Managing Director, Mr M.S. Sundara Rajan, has said. The bank may use this surplus to borrow cheaper funds from the ...
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GOVT BONDS
Bonds rally as liquidity eases
The bond market continued with its rally and the yields fell by two basis points on Monday, prompted by the comfortable liquidity in the system. “The liquidity has given a fillip to the market,” said a bond dealer at a private bank. ...
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SHORT TERM INSTRUMENTS
Call rates close higher
Call rates ended lower at 7.25-7.35 per cent against the previous close of 6.5-6.75 per cent. In the one-day auction under the Liquidity Adjustment Facility, the Reserve Bank of India received and accepted four reverse repo bids for Rs 3,705 ...
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FIXED DEPOSITS
Banks’ biz in Dakshina Kannada tops Rs 15,600 cr
Mangalore, Dec 31 Banks in Dakshina Kannada district reached a business level of Rs 15,688 crore as on September 2007. This was revealed at the district consultative committee meeting for banking development here on Friday. Speaking at ...
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MERGERS & ACQUISITIONS
HDFC to sell 7.15% in life venture to foreign partner
Mumbai, Dec. 31 Housing finance company HDFC said on Monday that it has agreed to sell 7.15 per cent stake in its life insurance joint venture - HDFC Standard Life Insurance Company - to its foreign partner, Standard Life (Mauritius ...
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PERFORMANCE
South Indian Bank biz exceeds target
Kochi, Dec. 31 The total business volume of South Indian Bank has crossed Rs 24,000 crore as against a corporate business target of Rs 25,000 crore. Presiding over the inaugural function of the bank’s 200th online ATM in Kochi, Dr ...
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YEAR-ENDER
A roller-coaster ride for life insurers in 2007
On last fiscal’s high base, growth would end up being lower
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TRENDS
Dakshina Kannada achieves 100% financial inclusion
Mangalore, Dec 31 Dakshina Kannada district in Karnataka has achieved total financial inclusion. At a function here recently, Mr M. Maheshwara Rao, Deputy Commissioner of Dakshina Kannada, handed over the certificate of full financial ...
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