MONEY & BANKING
FARM CREDIT
SBI suspends loans for buying tractors, farm equipment
Decision prompted by rising bad loans; ‘wilful defaulters in some pockets’
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INSIGHT
Bank credit and the environment
Like a living being bank credit completes the cycle of birth, growth and death. In the process credit serves the twin purposes of activating entrepreneurship cycle as well as bringing sustainable development. An effective credit cycle depends on ...
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STOCKS
SBBJ board to take up stock split
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FINANCIAL PERFORMANCE
Other income boosts Karnataka Bank net
Mangalore, May 19 Karnataka Bank posted a net profit of Rs 241.74 crore during 2007-08 as against Rs 177.03 crore in 2006-07, a growth of 36.55 per cent. The operating profit stood at Rs 390.50 crore (Rs 356.58 crore)The board of ...
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NBFCS
Magma Srachi Fin ties up with GM
Kolkata, May 19 Magma Srachi Finance Ltd has recently tied up with General Motors as a preferred vehicle financier. This follows similar arrangement with Hyundai Motor India last month, Mr Sanjay Chamria, Vice-Chairman and Managing Director, ...
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LIFE INSURANCE
LIC forms biz unit to groom agents
Mumbai, May 19 LIC plans to leverage the strength of its high performing agents and to attract new talent in the face of growing competition from private insurers. The corporation has carved out a strategic business unit for hiring new ...
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PRIVATE BANKS
TMB opens branch at Kunnathur
Tuticorin-based Tamilnad Mercantile Bank (TMB) has opened its 201st branch at Kunnathur in Erode district. Mr G. Narayan Moorthy, Managing Director of the bank, said the branch was the 52nd in the rural branch network of the bank, forming 26 per ...
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PUBLIC SECTOR BANKS
Biometric card for remote rural areas
State Bank of Indore’s pilot project
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CREDIT MARKET
Truckers lukewarm to floating rates
Now is not the right time for the product: ICICI Bank
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OVERSEAS INVESTMENTS
Indian holdings of US securities on the decline
Move to diversify forex reserve basket, minimise risk from weakening dollar
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