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MONEY & BANKING
GENERAL INSURANCE:
Bill soon to enable public insurers to raise capital
Amendments to the Act before Group of Ministers. Bangalore, Aug 7 The government is expected to take up the insurance amendment Bill seeking to increase the capitalisation of the public sector ...
GENERAL INSURANCE:
Bharti AXA General kicks off operations
Mumbai, Aug. 7 Bharti AXA General Insurance Company has kicked off its business operations in India. Bharti and AXA have made an initial investment of Rs 130 crore and have projected a capital injection of Rs 645 crore in the next five ...
GOVT BONDS:
Bond prices fall by 50 paise
FOREX:
Rupee flat in volatile trade
The rupee was flat against the dollar on Thursday in a highly volatile market. The currency opened higher at 41.98 and closed at 42.07/08, the same as the previous day’s close. During the day, the rupee touched an intra-day high of ...
TRADE & LABOUR UNIONS:
SBI associate bank officers’ strike
The Associate Bank’s Officers’ Association (ABOA) of State Bank of India will observe a one-day strike on August 18 to protest against the merger of State Bank of Saurashtra with SBI. The association is also demanding superannuation ...
SHORT TERM INSTRUMENTS:
Call rates tad lower
GOVT BONDS:
Slowdown in Tier II bond issuances
Mumbai, Aug 7 The high interest rate scenario has led to a slowdown in Tier II bond issuances by banks. Although the need for capital still exists, banks are putting off raising capital for the time being, due to high yields. Issuances could ...
PUBLIC SECTOR BANKS:
More banks hike lending rates
Mumbai, Aug 7 Dena Bank has hiked benchmark prime lending rate by 75 basis points to 14.25 per cent from 13.5 per cent, with immediate effect. However, the bank has not increased interest rates for existing housing loans ...
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