MONEY & BANKING
INSIGHT
Swift, lightning action to check inflation needed
The danger is that at the current low interest rates, it will become profitable to stock more goods than for immediate demand , leading to the worse disease of demand pull inflation.
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FOREX
Rupee touches 2-month high, breaches 46
DESPITE the inflationary pressures in the economy, the rupee has appreciated by 35 paise against the dollar in the past couple of days. The rupee touched a two-month high on Tuesday breaching the 46 mark to close at 45.90/91. The domestic ...
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CONSULTING
Basel-II opportunities for consultancy cos
CONSULTANCY companies are gearing up for business opportunities in the banking sector following the implementation of Basel-II norms in 2006. According to Mr Ashvin Parekh, Executive Director, Deloitte Touche Tohmatsu, the new norms being ...
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HOUSING FINANCE
Capital Research stake in HDFC crosses 6 pc
CAPITAL Research and Management Company USA's holding in Housing Development Finance Corporation Ltd has crossed over 6 per cent. In a notice to stock exchanges on Monday, HDFC said Capital Research and Management Company USA has acquired ...
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LIFE INSURANCE
Life insurers permitted to pay monthly service tax provisionally
The flexibility to pay provisional monthly service tax is being made available only to those insurers who decide to pay service tax on the risk premium certified by an appointed actuary.
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INTEREST RATES
`Near-term hike in interest rates unlikely'
BANKS have ruled out any change in lending rates in the short-term despite the hike in the cash reserve ratio by the Reserve Bank of India last weekend. Speaking to presspersons on the sidelines of the FICCI banking conference here on Tuesday, ...
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GOVT BONDS
Bonds fail to hold on to early gains
MUMBAI: Bond prices opened firm on Tuesday rising by nearly 45 paise during the day before closing lower on profit booking by traders, dealers said. Prices rose primarily due to trading interest in certain papers fuelled by expectations ...
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CRR & BANK RATES
RBI raises CRR of urban co-ops by 50 basis points
THE Reserve Bank of India has raised the cash reserve ratio of urban co-operative banks by 50 basis points from the current level of 4.50 per cent. The hike in CRR will be effected in two stages. From the fortnight beginning September 18, CRR ...
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CREDIT MARKET
IBA panel on tourism sector
MUMBAI: Indian Banks Association (IBA) has constituted an eight-member working group on tourism industry under the chairmanship of Mr M.B.N. Rao, Chairman and Managing Director, Indian Bank. The working group will examine the role of ...
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MERGERS & ACQUISITIONS
Centre to encourage bank mergers — `No divestment of Govt stake; PSBs can tap markets'
THE Centre has ruled out any divestment in the public sector banks and sought consolidation to make them internationally competitive. Speaking at the FICCI conference on `Global Banking: Paradigm shift', Mr Prithviraj Chavan, Minister of State ...
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Barclays Capital picks 4.3 pc stake in UTI Bank
BARCLAYS Capital Mauritius on Tuesday bought 4.3 per cent stake in UTI Bank through the open market. Barclays Capital, part of the UK's Barclays Bank, has purchased 1,00,56,000 shares at Rs 134.91 on the BSE. The total value of the transaction ...
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EVENTS
Bancassurance workshop at Thiruvananthapuram
CO-OPERATIVES
Dakshina Kannada Women's coop bank posts profit
MANGALORE: The Dakshina Kannada District Women Cooperative Bank, Mangalore, registered a profit of Rs 6.60 lakh during 2003-04, according to the President of the bank, Ms Sarala B. Kanchan. Addressing presspersons here on ...
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Cross Currency Rates
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