MONEY & BANKING
ACCOUNTING STANDARDS
Accounting standards on derivatives await panel approval
ICAI council approves norms on disclosure of financial instruments
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FINANCIAL SERVICES
SBI, GE Money venture offering more products
Mumbai, May 15 State Bank of India and its partner for credit cards, GE Money, are looking to expand their reach in the consumer finance segment by offering more products and cross selling products to the existing customers. The two ...
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FOREX
Rupee down 30 paise
The rupee depreciated by around 30 paise against the dollar, as foreign banks heavily bought dollars in the last half hour of trade. The domestic currency opened at 42.44 and rose to 42.31/32 during the day. It however, fell to end at 42.75/76, ...
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TAXATION
More clarity needed on service tax on forex deals, say banks
IBA seeks time till August 1
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FINANCIAL PERFORMANCE
PNB profit rises 33% for full year; Q4 net grows 129%
More recoveries, higher yields help bottomline
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CONSUMER FINANCE
Citigroup not to exit consumer finance biz in India
Will provide $1.5-m grant to Indian School of Business
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LIFE INSURANCE
ICICI Pru makes significant gains in rural biz
Madurai, May 15 Leading private life insurer ICICI Prudential Life achieved a significant growth in the rural segment during 2007-08.During the period, the number of branches rose from 583 to 1,950 — 1,000 of them were rural ...
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Max New York organisational rejig
New Delhi, May 15 Max New York Life Insurance (MNLI) on Thursday announced various changes in organisational structure as part of its growth strategy for the Indian market. The key new appointments are those of Mr Rajesh Sud as Deputy ...
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GENERAL INSURANCE
United India expects to make underwriting profit in 2 years
Sees claims coming under control with ‘motor pool’ operations
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PRIVATE BANKS
i-flex tool for Kotak Mahindra Bank
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PUBLIC SECTOR BANKS
New SBH Director on board
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FINANCIAL INSTITUTIONS
Exim Bank offers $30 m to Malawi
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GOVT BONDS
Bond yields rise by 5 bps
Bond yields rose by around 5 basis points due to tight liquidity and on expectations that inflation could rise on Friday, said dealers. Traders are also expecting the RBI to announce State loan auctions, which could put further strain on ...
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SHORT TERM INSTRUMENTS
Call rate higher at 7.70-7.85%
Pressure on liquidity pushed the inter bank call rate to close higher at 7.70-7.85 per cent (6.5-6.6 per cent). In the one-day reverse repo auction under the liquidity adjustment facility, the RBI received and accepted five bids for Rs 1,635 ...
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