MONEY & BANKING
FINANCIAL SERVICES
Western Union-Bharti mobile money transfer service by year-end
New Delhi, Jan.8 Western Union, a global money transfer major, has said that its tie-up with Bharti Airtel for mobile money transfer could be operational by the end of the year.“We had decided to jointly develop and pilot a ...
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FOREX
Rupee steady against dollar
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INFORMATION TECHNOLOGY
IBA'S BANKING TECHNOLOGY CONFERENCE - A BUSINESS LINE FEATURE
Tech-driven business transformation in banking
Hyderabad, Jan. 8 Grappling with issues of change management, innovation for new delivery channels and broadening the range of services portfolio — both internal and external, the banking sector in the country, like its peers across the ...
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IT capability in Indian banks on par with the best globally
The Indian banking sector is at a watershed. Brisk economic growth is opening up unprecedented opportunities. Several Indian banks are pursuing global strategies, as Indian companies globalise and people of Indian origin increase their ...
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HOUSING FINANCE
Indira Awas Yojana scheme launched in Madurai
People below poverty line will be entitled to avail bank loans at 4% interest rate
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LIFE INSURANCE
ICICI Pru Life in pact with South Indian
Kochi, Jan. 8 ICICI Prudential Life Insurance on Tuesday entered into a strategic partnership with Thrissur-based South Indian Bank (SIB) to provide policyholders the convenience of paying their first as well as renewal premiums in cash at ...
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FINANCIAL MARKETS
Central banks succeed in easing liquidity
For the US economy, 2008 has begun on the wrong note. It began with a sub-50 reading on the ISM manufacturing index (which measures confidence, outlook, order books, employment and price pressures in the factory sector), suggesting weak ...
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PRIVATE BANKS
Old pvt banks resent tag; say size does not matter
Raise a question on size to any of the old private bank chiefs, and all of them defend their space strongly. The common refrain – “We too have a role to play. We cater to a niche segment and there is room for growth. A vast ...
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LVB gets aggressive on tech
Lakshmi Vilas Bank today announced the roll out of its 200th CBS branch. It has a branch network of 236 across 11 States and one Union Territory. The bank plans to unveil technology-driven products and multi-city cheque facility soon, besides ...
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PUBLIC SECTOR BANKS
SBI picks up 2% stake in Mahindra Holidays
Coimbatore, Jan. 8 State Bank of India has picked up a 2 per cent stake in Mahindra Holidays and Resorts India Ltd (MHRIL) for about Rs 80 crore even as the company is preparing to come out with an IPO. The equity shares would be ...
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SBH stall at industrial expo
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FINANCIAL INSTITUTIONS
Exim Bank loan for Vietnam project
Exim Bank of India has entered into a line of credit (LoC) agreement for $45 million with the Government of Vietnam to finance construction of a power project in Vietnam. Bharat Heavy Electricals Ltd will construct the 200-MW Nam Chien Hydropower ...
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CORPORATE BONDS
Bond prices fall
Bond prices fell slightly as traders were booking profits after the rally in the past two days. Total traded volumes on the order-matching system were at Rs 10,915 crore (Rs 11,955 crore). Dealers said that a statement made by Mr M. S. ...
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CREDIT MARKET
Nabard sanctions Rs 23.68 cr to Kerala
Thiruvananthapuram, Jan. 8 The National Bank for Agriculture and Rural Development (Nabard) has sanctioned Rs 23.68 crore to Kerala for implementing various rural development projects in the State.A total of 91 projects come under the ...
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‘Losses from small ticket loans, cards to rise’
Crisil puts sub-prime assets at Rs 20,000 cr
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Oriental Bank to raise SME lending in East
Kolkata, Jan. 8 Oriental Bank of Commerce (OBC), which has so far in the current year posted 43 per cent growth in advances to the SMEs (small and enterprises) sector in some of the eastern States, proposes to step up its lending further in ...
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SHORT TERM INSTRUMENTS
Call rates at 6-6.10%
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TRADE & LABOUR UNIONS
Rural bank employees plan protest
Kolkata, Jan. 8 About 69,000 officers and employees employed in 14,500 branches of 92 Regional Rural Banks (RRBs) spread across 525 districts in the country will observe ‘cease-work’ for two days, on January 10 and 11.This ...
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