MONEY & BANKING
INSIGHT
Economic theories prove inadequate for current realities
The dollar has fallen sharply against the euro and yen with absolutely no impact on inflation. The latest addition to the fantasy world of rising Government debt and debt-GDP ratio amid falling inflation and interest rates is India.
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FOREX
Forwards active; gilts range-bound
MUMBAI: The forwards market saw a lot of activity on Tuesday with premia moving about 20 basis points higher than Monday's closing levels. The six-month premium touched a high of 0.91 per cent, but closed lower at 0.81 per cent. The ...
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STOCKS
Banking stocks tumble on expectation of weak results
BANKING sector stocks, especially PSU banks, came under heavy selling today due to perception that the financial results of most of the banks would be below market expectations mainly due to the revised norms of 90 days provisioning for ...
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FINANCIAL PERFORMANCE
Syndicate Bank net falls on higher tax liabilities
SYNDICATE Bank proposes to tap the bond market for raising tier two capital to the extent of Rs 125 crore. Briefing newspersons here on Tuesday, the Syndicate Bank's Chairman and Managing Director, Mr Michael Bastin, said that the bank needed ...
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Core banking gains lift UTI Bank Q3 net up 45 pc
AIDED by an increase in net interest income through core banking business, UTI Bank has registered a 45.3 per cent jump in net profit to Rs 74.86 crore for the quarter ended December 31, 2003 up from Rs 51.50 crore in the corresponding period of ...
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LIFE INSURANCE
Aviva hikes capital by Rs 88 cr
AVIVA Life Insurance has hiked its paid-up capital by Rs 88 crore to Rs 243 crore recently. "The promoters of Aviva (Dabur India and Aviva Plc of UK) have infused another Rs 88 crore last week. This increases our capital to Rs 243 crore," the CEO ...
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King-sized LIC policy
GENERAL INSURANCE
Oriental risk products at post offices
ORIENTAL Insurance Co Ltd has signed a memorandum of understanding with the Department of Posts for distribution of its insurance products through the postal network. The MoU was signed in the presence of the Minister of State for Finance, Mr ...
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FINANCIAL INSTITUTIONS
IDBI gearing to turn retail commercial bank — Plans to set up 100 branches
INDUSTRIAL Development Bank of India (IDBI) is to soon roll out 100 branches in its efforts to convert itself into a retail commercial bank. The plan follows the Finance Minister's recent announcement in the `mini Budget' that the ...
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Cross Currency Rates
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