MONEY & BANKING
LIFE INSURANCE
MetLife bullish on India market
METLIFE India Insurance Co Pvt Ltd is bullish on the India market and group products in particular. Briefing newspersons after inaugurating its branch office here, the Managing Director of MetLife India, Mr Venkatesh Mysore, said that product ...
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GENERAL INSURANCE
United India likely to make Rs 300-cr underwriting profit
This is the first time in almost two decades that any public sector insurance company has managed to achieve a surplus from core operations.
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DEBT MARKET
Volatility in equity, debt markets — Fund managers in a quandary
FUND managers are gearing up to combat high volatility in debt markets. Prices of Government securities have dropped considerably over the last two days and yields are expected to harden. The Reserve Bank of India has indicated that lower bias ...
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RBI & OTHER CENTRAL BANKS
RBI to issue new notes
Name change at RBI dept
PRIVATE BANKS
DCB to concentrate on non-resident banking
IN keeping with its motto of `old-style banking, new technology,' the Development Credit Bank (DCB) is now looking at increased focus on non-resident banking and opportunities for fee income. Talking to Business Line, Mr Sandeep ...
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FINANCIAL INSTITUTIONS
IDBI recast: Govt stake may fall below 51 pc
THERE could be an interesting twist to the ongoing restructuring story for Industrial Development Bank of India (IDBI). The Ministry of Finance is going ahead with the recast work on the premise that all issues barring that of retaining of the ...
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India Inc argues in favour of retaining DFI status for IDBI
CORPORATE India seems to be backing the Government's decision of the Industrial Development Bank of India (IDBI) retaining its development financial institution (DFI) role even after conversion into a commercial bank. With other DFIs gradually ...
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INTEREST RATES
IDBI cuts lending rate by 2.25 percentage points
THE Industrial Development Bank of India has cut its benchmark-lending rate by 2.25 percentage points. The Minimum Term Lending Rate (MTLR) was slashed to 10.25 per cent from 12.50 per cent per annum, said the institution in a press note issued ...
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NON-PERFORMING ASSETS
Dhanalakshmi Bank takes over Devaki Hospital's property
DHANALAKSHMI Bank on Monday took possession of a part of Devaki Hospital's premises under the Securitisation Act following the latter's failure to repay a loan. A notice put up at the hospital by the bank said Devaki owed it Rs 1.31 crore. ...
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PEOPLE
New Exec Director for Union Bank
TRENDS
Banks' profitability up despite drop in treasury incomes
THE warnings by analysts that banks' profitability will be adversely affected once treasury incomes drop seem exaggerated in retrospect. While there may be no windfall gains in profits, most banks have been able to show 16-45 per cent jump in the ...
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Cross Currency Rates
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