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MONEY & BANKING
CREDIT MARKET:
PSU banks keen to step up SME sector lending
See opportunity to gain higher yield, benefit from ancillary biz. Mumbai/Kolkata Aug. 21 Faced with falling margins due to rising interest rates, banks are focusing on the small and medium enterprises sector. Although lending to SMEs is ...
CREDIT MARKET:
Hawk’s eye on land deals
With over 6,500 property valuations for banks, D. Parthasarathy’s work is a highly valued one.. The sub-prime mortgage crisis in the US has, with a jolt, brought to centre-stage the importance of accurate and foolproof evaluations — ...
INSIGHT:
From ‘class banking’ to ‘mass banking’
That India has been ranked poorly in the first-ever Index of Financial Inclusion (IFI) prepared by a New Delhi-based think-tank need not come as a surprise to the observers of the country’s banking and financial scenario. Even so, the ...
ALLIANCES & JOINT VENTURES:
YES Bank, Cisco tie up for voice-enabled phone banking
Mumbai, Aug. 21 Private sector YES Bank today launched speech-enabled phone banking services for its customers, jointly with Cisco. The facility allows customers to perform routine enquiries or transactions just by speaking out pre-defined ...
GOVT BONDS:
Bonds decline sharply
Bond prices fell sharply by over 40 paise as concerns about higher oil prices and rising inflation numbers weighed on traders. Total traded volumes on the order matching system were at Rs 3,555 crore (Rs 3,060 crore). Dealers said that prices ...
TRADE & LABOUR UNIONS:
Bank unions plan stir next month
The United Forum of Bank Unions, the umbrella organisation of all bank unions, has called for a two-day nationwide strike on September 24 and 25, according to a press release by UFBU. The release said that the decision for the strike was taken at ...
FOREX:
Rupee gains by 20 paise
The rupee gained by around 20 paise against the dollar breaking the week-long losing streak. The domestic currency opened at 43.73/74 and weakened to touch an intra-day low 43.77/78. It recovered to close at 42.51/52, against the previous close ...
CREDIT CARDS & DEBIT CARDS:
Central Bank unveils new cards
Central Bank of India has launched Visa Platinum and Visa Gold cards having domestic and international acceptance, said a press release from the bank. The cards will offer facilities such as revolving credit, reward points, balance transfer ...
SHORT TERM INSTRUMENTS:
Call rate ends lower
The inter-bank call rate closed lower at 9.00-9.25 per cent, against the previous close of 9.40-9.60 per cent. In the one-day repo auction under the liquidity adjustment facility, the RBI received and accepted 25 bids for Rs 29,470 crore. There ...
PRIVATE BANKS:
Development Credit Bank opens branch in Dharavi
Large population of unbanked people attract banks. Mumbai, Aug. 21 The Development Credit Bank (DCB) is looking to raise funds in the fourth quarter of the current fiscal or the first quarter of next fiscal, through the Qualified Institutional ...
CREDIT MARKET:
Foreign, pvt banks shy away
Hyderabad, Aug. 21 Even as many public sector banks are focusing on lending to small and medium enterprises (SMEs), the foreign and private banks are shying away from it due to some concerns in the due diligence ...
CREDIT MARKET:
Equitas Micro raises Rs 50 cr
Chennai, Aug. 21 The Chennai-based Equitas Micro Finance Ltd has raised Rs 50 crore in the second round of capital infusion. MVA Ventures has invested Rs 25 crore, and Bellweather Microfinance Fund along with India Financial Inclusion Fund ...
INSURANCE:
Reporting standards: IRDA panel to look at compliance needs
Hyderabad, Aug. 21 The Insurance Regulatory and Development Authority (IRDA) has constituted a committee to examine the requirements for International Financial Reporting Standards (IFRS) compliance by the insurance industry. ...
PRIVATE BANKS:
Karnataka Bank launches inward remittance facility
Mangalore, Aug. 21 Karnataka Bank Ltd has launched ‘Quikremit’, a Web-based inward remittance facility for NRIs residing in Canada, the UK and the US. ...
GOVT BONDS:
Collateral facility extended to savings bonds
Mumbai, Aug. 21 Those who hold Government of India savings bonds can now pledge them or place them as collateral for loans from scheduled commercial banks, said a press release from RBI. However, the facility is available only in case the ...
LIFE INSURANCE:
IDBI Fortis branch in Vijayawada
IDBI Fortis Life Insurance Co Ltd has opened its second branch in Andhra Pradesh in Vijayawada in addition to its branch in the State Capital. It is also planning to open four more new branches in the State during the year, Ms R.M. Vishakha, ...
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