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Tuesday, September 09, 2008
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CREDIT CARDS & DEBIT CARDS: Banks hiking merchants’ fees on card swipes
PRICING REVIEW. Mumbai, Sept. 8 Faced with shrinking interest incomes, banks are looking at all possible ways to increase their fee income. One way, they have decided, is to increase the merchant fees on their point of sales (POS) machines. ...

GENERAL INSURANCE: NICL short-lists 6 cos for core insurance solution
Bids to be finalised within 15 days. Bangalore, Sept 8 The public sector National Insurance Company Ltd (NICL) has shortlisted six information technology companies for implementing the Core Insurance Solution (CIS). ...

NEW PRODUCTS & SERVICES: SBI launches HNI Speed
The SBI launched HNI Speed – loaning facility for high net worth individuals – here on Monday at its Retail Assets Centralised Processing Centre. After inaugurating the system, Mr R.K Sharma, Chief General Manager (Hyderabad circle), ...

FOREIGN BANKS: DBS Bank to launch retail banking early 2009
Chennai, Sept. 8 Singapore-based DBS Bank expects to launch its retail banking operations in early 2009. ...

LIFE INSURANCE: Max New York Life recasts brand campaign
Chennai, Sept. 8 With 22 players in the market and counting, insurance companies have to distinguish themselves from their competition. ...

LIFE INSURANCE: Kotak Life hopes to sustain 80% growth
Mumbai, Sept. 8 Kotak Mahindra Old Mutual Life Insurance (Kotak Life) hopes to sustain a growth of 80 per cent in new business premium on the an expansion in its distribution ...

PRIVATE BANKS: Axis Bank gets reprieve in forex derivative case
Mumbai, Sept. 8 A district munsif court in Ludhiana has ruled that a forex derivatives agreement between Axis Bank and Nahar Industries stands, and also rejected Nahar’s petition for a permanent injunction for repudiation of the ...

CO-OPERATIVES: SICB depositors to take recourse to RTI
Mumbai, Sept. 8 Depositors of the erstwhile South Indian Cooperative Bank (SICB) are planning to file a petition under Right to Information Act with respect to recovery of the foregone amount of their deposits, post it merger with the Saraswat ...

GOVT BONDS: Marginal drop in bond prices


FOREX: Rupee ends flat


CO-OPERATIVES: Sundaram BNP ties up with Shamrao Vithal Co-op Bank
Mumbai, Sept. 8 Sundaram BNP Paribas Mutual Fund has tied up with Shamrao Vithal Co-operative Bank Ltd for distribution of its mutual fund products. ...

PUBLIC SECTOR BANKS: Allahabad Bank expands in South


SHORT TERM INSTRUMENTS: Call rates flat


LIFE INSURANCE: HDFC Standard Life's AUM






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Markets (Sep 08)
Nifty (at 03.30 p.m)4478.35 (+126.05)
US Dollar (Buy/Sell)44.35/36
Brent crude (a bbl) Rs4,561
Gold (a gram) Rs1,093
Silver (a kg) Rs19,480

Cross Currency Rates

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In Focus
Remembering Ramachander

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‘US biz lobby will ensure nuke deal is approved by Congress’

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Looking back
Aug. 31-Sep. 6
Bonds rally on liquidity inflow

Term plan premia to fall 12-40 per cent

UCO Bank to tap capital market in Dec quarter

Share of households in aggregate bank deposits declines

NSE currency futures trade drifts to realistic levels



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