MONEY & BANKING
OVERSEAS BORROWINGS
IDBI raises $300 million
MUMBAI: Industrial Development Bank of India has raised $ 300 million of five-year US dollar-denominated bonds through the external commercial borrowings route. The bonds carry a coupon rate of 4.75 per cent and yield of 4.829 per cent ...
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FINANCIAL SERVICES
RTGS launch likely by March-end
THE Reserve Bank of India after having delayed the launch of its Real Time Gross Settlement System, a technology platform for immediate clearing and settlement of funds, now proposes to "hopefully'' launch it before March-end. The earlier RBI ...
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FOREX
Rupee steady despite heavy dollar flows
MUMBAI: The rupee on Thursday held steady at 45.25 levels despite heavy dollar supplies estimated at $ 300-400 million. According to dealers, consistent buying by the central bank held the domestic currency steady in its value against the ...
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INFORMATION TECHNOLOGY
12 banks share ATMs
TWELVE banks have come together to form yet another ATM sharing arrangement. BANCS, the new arrangement will share a network of 2,000 ATMs. The banks in the group at the moment sweep across categories are Bank of Maharashtra, Bank of Bahrain & .
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NBFCS
NBFC tie-ups help UTI Bank grow retail assets fast
UTI Bank is also close to picking up five per cent stake in each of the two Shriram group companies.
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HOUSING FINANCE
ABN Amro waives penalties on home loan prepayments
ABN AMRO Bank has raised the ante in the housing loan war and has decided to completely waive loan prepayment premiums. Speaking to reporters here, ABN - Amro's Executive Vice President and country representative, Mr Romesh Sobti said, ...
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`Home loans may turn dearer'
HOUSING finance lending rates are likely to harden as the incremental returns on housing finance loans are very low, a study by Crisil has said. The incremental return on equity for banks on its housing finance business is at 9 per cent as ...
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LIFE INSURANCE
SBI Life aims at Rs 180-cr sales
SBI Life Insurance expects to touch a sales target of Rs 180 crore by the end of the current fiscal, according to its outgoing Managing Director and CEO, Mr R. Krishnamurthy. Until January 31, 2004, SBI Life Insurance, a joint venture between ...
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The message comes with the meal dabba
GUESS what has come with the dabba today, not the run-of-the-mill sachet of digestive to follow the heavy lunch; strung on to the rusty handle is a mailer from an insurance company to sell its policy. With the year-end approaching and ...
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CORPORATE BONDS
Banks, FIs queue up for bond issues
A HOST of bond issuances are in the pipeline from mostly banks and financial institutions. While corporates have chosen the foreign currency route to raise long-term debt through the recently re-opened ECB/FCCB (external commercial ...
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MERGERS & ACQUISITIONS
Govt assurance to IFCI staff on salaries post-PNB merger
AMIDST the prevalent concern over their future, the IFCI employees have been shown a silver lining by the Ministry of Finance. The Ministry has assured them that their salaries would be protected after the merger of their parent institution ...
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Cross Currency Rates
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