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MONEY & BANKING
CREDIT MARKET:
Banks cut rates on loans as part of ‘festive offer’
Mumbai, Oct. 18 Despite banks talking about acute fund crunch, some of them are offering festive discounts on loan ...
RESTRUCTURING:
Federal Bank’s Q2 net up 20% on higher interest income
Engages Boston Consulting Group for restructuring. Kochi, Oct. 18 The Aluva-based Federal Bank has registered a 19.9 per cent increase in its net profit in the second-quarter ended September 30, registering Rs 114.28 crore against Rs 95.33 ...
FIXED DEPOSITS:
Allahabad Bank ups NRE rates
Allahabad Bank has increased the interest rates on FCNR and NRE deposits effective October 16, according to a press statement issued by the bank. The interest rates on dollar deposits of various tenures have been revised as follows: one-to-less ...
FINANCIAL PERFORMANCE:
Allahabad Bank net falls 82% on higher provisions
Kolkata, Oct. 18 Allahabad Bank has reported 82.5 per cent drop in net profit at Rs 41.68 crore for the quarter ended September 30, 2008, against Rs 239.78 crore during the corresponding quarter of the previous ...
DERIVATIVES MARKETS:
How a currency futures contract works
The launch of currency futures trading in the Indian stock market was a significant step towards enabling participants to hedge their currency risks through trading in the US dollar-rupee future platform. The following Q&A explains how ...
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