MONEY & BANKING
PENSION PLANS
UTI MF, Repco Bank in micro-pension initiative
To benefit SHGs associated with Repco Foundation
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AWARDS & HONOURS
Corporation Bank wins award for taking tech to rural areas
Mumbai, Jan. 10 Contrary to popular belief, it was a public sector bank that walked away with the award for the best use of information technology in retail banking at the IBA & TFCI: Banking Technology Awards 2007, held on January 9, in ...
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INSIGHT
How to bankrupt households and enrich corporates
In the US Fed’s money multiplying game, the player that stakes its money, the household, is destined to lose, and someone else — the corporate, that is already chosen to win — is certain to gain. The Fed is thus gambling not just wi th family money but with the idea of family itself, says S. GURUMURTHY.
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FOREX
Rupee unchanged
The rupee was almost unchanged against the dollar on Thursday as the central bank continued to intervene and buy up dollars in the forex market. The domestic currency opened at Rs 39.26/28, touched an intra day low of Rs 39.30 and closed at Rs ...
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INFORMATION TECHNOLOGY
Catholic Syrian picks Sun Micro tool for core banking
Catholic Syrian Bank has selected Sun Microsystems to implement its core banking solution (CBS) that will help customers access the bank’s services through the Web, branch or ATMs (automated teller machines).The bank will migrate ...
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Catholic Syrian Bank ATMs
The Catholic Syrian Bank has been observing the current financial year 2007-08 as ‘Relationship Year’ and as part of this program it has been opening ATMs at main tourist and pilgrim centres in the country. Continuing the program, new ...
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FINANCIAL PERFORMANCE
Motilal Oswal Fin Q3 net doubles
Mumbai, Jan. 10 Mumbai-based brokerage Motilal Oswal Financial Services Ltd said its net profit for the third quarter ended December 2007 more than doubled from a year ago.Net profit amounted to Rs 53.7 crore, against Rs 20.5 crore a ...
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GENERAL INSURANCE
Reinsurance treaty terms likely to be tougher
Steep fall in tariffs may see primary insurers taking on more risks
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ECGC seeks Govt nod for ‘inward reinsurance’
Mumbai, Jan. 10 Export Credit Guarantee Corporation of India has sought government approval for offering ‘inward reinsurance’.Inward reinsurance is the term used for reinsurance offered by an insurance company. ...
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HUMAN RESOURCES
LIC plans MBA courses for its officers
Mumbai, Jan. 10 Life Insurance Corporation of India plans to tie up with management institutes to offer its employees a special MBA programme.“We will offer this postgraduate programme to officers who have been with LIC for more ...
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PRIVATE BANKS
ICICI Bank hits new high on plans to list subsidiaries
Listing is expected to unlock bank’s value
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PUBLIC SECTOR BANKS
Canara Bank opens e-ticketing at Madurai, Kanyakumari stations
Madurai, Jan. 10 Canara Bank has launched e-ticketing service at Madurai and Kanyakumari railway stations in Madurai Division. The initiative called ‘Insta Ticket’ is part of a memorandum of understanding signed between ...
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SBI to add 12 branches in Vizag
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GOVT BONDS
Bond trade volumes rise
The bond market saw good momentum and volumes, taking cues from global developments . Expectations of a domestic rate cut are getting stronger, said a bond dealer with a private bank.The total traded volumes on the order matching system ...
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SHORT TERM INSTRUMENTS
Call rates steady
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RIGHTS ISSUE
Rights issue: SBI board meet on Jan 14
New Delhi, Jan. 10 The Central Board of State Bank of India (SBI) will meet on January 14 to consider for approval of the bank’s planned rights issue to mobilise about Rs 16,700 crore before end-March this fiscal. Besides the ...
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