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Thursday, May 07, 2009
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MONEY & BANKING

CREDIT MARKET: SBI lends Rs 500 cr to Kingfisher Airlines
New Delhi, May 6 The cash-strapped Kingfisher Airlines has been loaned Rs 500 crore by State Bank of India. This is only a fourth of the Rs 2,000-crore which the airline is seeking from a consortium ...

GENERAL INSURANCE: General insurers, MFs shifting focus to commercial papers
Fallout of decline in bulk deposit rates below repo rates. Bangalore, May 6 With bulk deposit rates plunging below the Reserve Bank of India’s new repurchase rates of 4.75 per cent, general insurers and mutual funds are beginning to chase ...

CREDIT CARDS & DEBIT CARDS: ATM transaction volumes rise post waiver of charges
Banks plan to expand network. Kolkata, May 6 Banks with a reasonably large ATM network witnessed 25-30 per cent rise in transaction volumes and a corresponding increase in fee-based income in the last one ...

PENSION PLANS: The burden of entry load
The new pension scheme has drawn flak on two counts — limiting investment in equity to 50 per cent of one’s contribution and levying annual account management fee of Rs 350, irrespective of its size, thus clearly being pro-wealthy in ...

PENSION PLANS: New pension choice
A year after it was introduced for central government employees, the New Pension Scheme for the general public quietly came into effect, appropriately on May 1, Labour Day. With attention riveted on the general elections and troubles across ...

PENSION PLANS: New Pension Scheme: Doubts over initial success
Kolkata, May 7 Market players and mutual fund industry generally welcome the extension of the New Pension Scheme to all citizens from May ...

FOREX: Rupee slips against dollar
The rupee depreciated by around 30 paise against the dollar on Wednesday, as the greenback registered gains against other major currencies in the overseas markets. The rupee opened with a negative gap at 49.55 and gained to touch an intra-day ...

SHORT TERM INSTRUMENTS: Call rate ends lower
The inter-bank call rate closed lower at 3.10-3.15 per cent, against the previous close of 3.25-3.40 per cent. There was only one liquidity adjustment auction conducted on Wednesday. In view of the improving liquidity, the Reserve Bank had ...

CREDIT MARKET: Banks asked to review loan policies for medium, small units
Mumbai, May 6 With a view to alleviate the problems being faced by micro and small enterprises in the current bleak economic environment, the Reserve Bank of India has asked banks to put in place policies pertaining to ...

PUBLIC SECTOR BANKS: Corp Bank, Karnataka organic farming mission in pact
Mangalore, May 6 Corporation Bank has signed a memorandum of understanding with the Karnataka State Organic Farming Mission for the promotion of organic ...

CREDIT MARKET: Banks witness sharp fall in credit demand
Mumbai, May 6 Signs of slack demand for bank credit are increasingly becoming apparent. Bank credit in the fortnight ended April 24, 2009 is sharply down by Rs 21,312.61 crore vis-À-vis the position in the preceding fortnight ended April ...

GOVT BONDS: Bonds rally on ample liquidity
Mumbai, May 6 Bond prices rallied on Wednesday fuelled by the ample liquidity in the ...

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Markets (May 06)
Nifty (at close)3625.05(-36.85)
US Dollar (Buy/Sell)49.61/62
Brent crude (a bbl) Rs2,687
Gold (a gram) Rs1,344
Silver (a kg) Rs22,900

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