MONEY & BANKING
INSIGHT
India’s ‘external’ economic strength
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FOREX
Rupee tad higher
The rupee was flat as demand for the dollar matched supplies. The rupee opened weaker at 40.64/65 and touched a high of 40.52 in day trade, as the domestic stock markets gained. However, dollar buying by nationalised banks pushed the rupee down ...
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CONSUMER FINANCE
Whirlpool tying up with retailers for easier credit facilities
Mumbai, May 5 Whirlpool of India is entering the arena of financial services by partnering with Videocon’s Next Retail for giving easy and flexible credit to consumers. Forming a tripartite arrangement with ICICI Bank, the manufacturer ...
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LIFE INSURANCE
Bajaj Allianz, Gramin Bank tie up
Bajaj Allianz Life Insurance has tied up with Sarva U.P. Gramin Bank to provide insurance products across Uttar Pradesh. Sarva U.P. Gramin Bank has 265 branches. A press release quoting Mr Yogesh Gupta, Head Business Procurement, Bajaj Allianz, ...
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GENERAL INSURANCE
MyTVS joins hands with Oriental for emergency help service
Chennai, May 5 MyTVS, the car service business of TVS & Sons Ltd, and the public sector non-life insurance company The Oriental Insurance Company, on Monday joined hands to launch a product that will provide emergency roadside assistance ...
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DEBT MARKET
‘Basel II norms positive for debt market development’
Mumbai, May 5 The new norms for capital adequacy framework under Basel II are positive for the development of debt market, as it would encourage more companies, said rating agency Crisil in a report released on Monday. According to the ...
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PRIVATE BANKS
Axis Bank opens office in Dubai
Axis Bank has opened its representative office in Karama, Dubai. The office would be engaged primarily in promoting the bank’s retail non-resident Indian (NRI) products and services as well as facilitating transactions between branches of ...
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Karnataka Bank review meet
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PUBLIC SECTOR BANKS
UCO Bank capital recast plan gets nod
Recoveries, yield on advances push full-year net up 30%
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Public sector insurers wary of SBI’s general insurance biz plans
Fear further loss of market share
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Birla Sun Life ties up with J&K Bank
Mumbai, May 5 Birla Sun Life Asset Management Company Ltd has tied up with Jammu & Kashmir Bank Ltd for the distribution of its mutual fund products.According to the agreement, Birla Sun Life’s products will now be available ...
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SBI programme on ATMs
State Bank of India will launch a customer education programme to habituate pensioners to the use of Automatic Teller Machines (ATMs) said the bank’s General Manager, Mr Anoop Prabhakar, said here. Speaking at a customers’ meet ...
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GOVT BONDS
Bond prices up on ample liquidity
Bond prices rose as traders drew comfort from the surplus liquidity in the system. Total traded volumes on the order matching system were at Rs 11, 825 crore (Rs 9,275 crore). Dealers said that there was confidence that substantial liquidity ...
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SHORT TERM INSTRUMENTS
Call rates lower at 4.75-5 per cent
The inter bank call rates ended at 4.75-5.00 per cent, against the previous close of 6.10-6.20 per cent. In the one-day reverse repo auction under the liquidity adjustment facility, the RBI received and accepted 29 bids for Rs 33,065 crore. There ...
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FIXED DEPOSITS
SBI hikes FCNR (B), NRE deposits rates
Mumbai, May 5 State Bank of India has hiked the interest rates on FCNR (B) deposits in different currencies and on NRE (rupee) term deposit across varying maturities, with effect from May 1, ...
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DIVERSIFICATION
Birla Sun Life to enter health insurance biz
Hyderabad, May 5 Birla Sun Life Insurance Company Ltd (BSLI) will be foraying into health insurance business soon.The company is in the process of tying up with a national health partner, who would be finalised soon, and the operations ...
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PEOPLE
New director on YES Bank board
Mr Ajay Vohra, Managing Partner of the Corporate Tax and Business Advisory Law firm Vaish Associates has been appointed as an Independent Director on the board of YES Bank. The bank’s board met on April 29 and announced the appointment of ...
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