MONEY & BANKING
FOREX
Internet-based forex service allowed
The Reserve Bank of India has now allowed banks to offer Internet-based foreign exchange services. "On a review, it has been decided that banks may be permitted to offer Internet-based foreign exchange services for permitted underlying ...
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Rupee weakens against dollar
The rupee weakened slightly against the US dollar for the second day in a row on Wednesday, as demand for the greenback from oil companies continued. But the overall weakening of the dollar kept the rupee from depreciating ...
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NBFCS
Muthoot Fin, Penguin Associates tie up
Backed by Penguin Associates, a business and technology consultancy company, Muthoot Finance Ltd has announced the launch of an overseas software development firm, eMsign. eMsign, Muthoot Systems and Technologies has set up ...
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LIFE INSURANCE
Max NY Life's new products
With an aim to target the country's semi-urban market, Max New York Life has launched the Max Mangal Endowment Plan and Max Vriksha Money Back Plan. These products, aimed at the semi-urban market, are simple, affordable and provide customers with ...
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GENERAL INSURANCE
Max Healthcare set to expand operations
Launches `Max Happy Family' modular plan with outpatient benefits
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HUMAN RESOURCES
SBH officers' training programme
Banks should integrate three critical components — customer, technology and employees, if they want to survive in the fiercely competitive market place, according to Mr R.P. Sinha, Chief General Manager of the State Bank of Hyderabad ...
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RBI & OTHER CENTRAL BANKS
RBI nominees to stay on PSB boards
Avenue opened for allowing preference share issue to shore up capital
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PUBLIC SECTOR BANKS
Bill gives Govt powers to supercede bank boards
Administrator to be appointed in consultation with RBI
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FOREIGN BANKS
HSBC launches factoring services for SMEs
The factoring charges for a local trader would vary between 9 and 11 per cent, inclusive of interest cost, credit insurance and collection charges and also depend on customer's profile.
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GOVT BONDS
Bond prices go up
Bond prices went up by around 35 paise as concerns about the pressure on liquidity were quelled. Renewed buying interest caused the traded volume to surge to Rs 5,600 crore on the order matching system. Dealers said that fresh ...
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SHORT TERM INSTRUMENTS
Call rates range-bound
Call rates were between 6.05 and 6.15 per cent against the Tuesday's rates of 6.00-6.10 per cent. In the first one-day reverse repo auction under the LAF, the Reserve Bank of India received and accepted 18 bids amounting to Rs ...
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FIXED DEPOSITS
SBBJ raises deposit rate
State Bank of Bikaner and Jaipur (SBBJ) has increased the term deposits rates for the period of five years and more to be 8 per cent per annum. This would enable the customers to double their deposit amounts in 8 years and 9 months, according ...
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TMB deposit schemes
Tamilnad Mercantile Bank has introduced tax savings deposit scheme - TMB TSD Malligai and TMB TSD Mullai. Under the TMB TSD Malligai scheme, the depositor would be able to get the monthly interest at discounted rate or on a ...
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MERGERS & ACQUISITIONS
Acacia Partners picks up 3.55 pc in City Union Bank
Acacia Partners LP of USA has picked up around 8.8 lakh shares of City Union Bank, or about 3.55 per cent of the bank's equity capital. Sources in City Union Bank confirmed this to Business Line on Wednesday. They said that the pick-up ...
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TRADE & LABOUR UNIONS
LKB union holds protest demo
Terming the proposed merger of Lord Krishna Bank with Centurion Bank of Punjab as anti-people and anti-employee, the LKB Employees Union held protest demonstration at the bank's head office. The All Kerala Bank Employees Federation leaders ...
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