MONEY & BANKING
FINANCIAL SERVICES
Three banks get nod for PD business
Hongkong and Shanghai Banking Corporation Ltd, Bank of America, N.A. and J.P.Morgan Chase Bank, N.A., have been authorised to undertake Primary Dealer business with effect from August 28 said a press release by the Reserve Bank of India. The ...
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FOREX
Forex reserves rise $273 m
Foreign exchange reserves have risen by $273 million due to an increase in foreign currency assets for the week ended August 18. According to the Reserve Bank of India's Weekly Statistical Supplement, the reserves rose by $273 million to touch ...
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Rupee weakens against dollar
The rupee weakened against the dollar tracking the movement of other global currencies against the greenback. Dollar demand from domestic oil companies also impacted the home currency. The rupee opened at 46.55/57, touched an ...
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NBFCS
Magma Leasing, Shrachi Infra merger ratio fixed at 1:3
All-stock deal; new entity named Magma Shrachi Finance
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Tata Motors' new finance arm to up branch count to 500 by 2010
Tata Motors's newly established 100 per cent subsidiary TML Financial Services is set to increase the company's existing chain of 150 Tata Motorfinance branches to 500 branches by 2010. The expansion is on the lines of the product expansion ...
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HOUSING FINANCE
NHB to borrow Rs 8,600 cr
National Housing Bank (NHB) expects to borrow a sum of Rs 8,600 crore during July-June 2006-07 to fund the demand for credit from homebuyers, its Chairman and Managing Director, Mr S. Sridhar, said. He also told reporters that there are no ...
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`Housing demand to continue to be strong'
Prices in metro cities likely to see `downward adjustments'
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LIFE INSURANCE
ICICI Pru may take more time to post profits
`Company's business growth has been far ahead of all expectations'
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GENERAL INSURANCE
Surveyors' loss limits hiked
In a bid to mitigate the hardships of policyholders affected by the recent flash foods in Surat, the Insurance Regulatory and Development Authority (IRDA) has decided to raise the limits of licensed surveyors and loss assessors ...
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PUBLIC SECTOR BANKS
SBI rises 3.39 pc on Cabinet approval to Act changes
Bank's stock jumps 3.39% on allowance to increase capital
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Corpn Bank to add more branches
Corporation Bank is planning to add 55 branches to its network of 840 during the current year. The bank Chairman and Managing Director, Mr B. Sambamurthy, told Business Line that the permit was in place and there were plans to open 35 ...
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FINANCIAL INSTITUTIONS
Exim Bank, SEWA sign pact
To promote handcrafted products
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GOVT BONDS
Bond volumes surge on hopes of interest rates stabilising
Volumes rise to Rs 6,900 cr
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Bond prices fall on profit-taking
After gaining for two days in a row, bond prices fell on Friday due to profit taking. Another negative for the market was the rumour that the Government might allow oil bonds to be classified as SLR securities, said a dealer with ...
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SHORT TERM INSTRUMENTS
T-bills auction on Aug 30
The Reserve Bank of India has announced that the auction of 91-day Government of India Treasury-bills and 364-day Government of India Treasury-bills would take place on August 30 using multiple price auctions. The notified amount for the ...
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Call rates unchanged
Call rates were at 6-6.10 per cent, unchanged from the previous day's close. In the first three-day reverse repo auction under LAF, the Reserve Bank of India received and accepted 19 bids amounting to Rs 18,665 crore and in the ...
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FIXED DEPOSITS
Fed Bank tax savings deposit schemes
Federal Bank has introduced Federal Tax Savings Deposit Scheme with a maturity period of five years. In accordance with the recent Central Government notification, amount invested in this scheme by individuals is eligible for tax ...
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TRADE & LABOUR UNIONS
Bank forum calls strike on Oct 27
The United Forum of Bank Unions (UFBU) has called for an all India bank strike on October 27. The strike is being called to press their demands for a new pension scheme, implementation of the compassionate appointment scheme, ...
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AIBOC stages sit-in at Thiruvananthapuram
The Kerala State Committee of the All-India Bank Officers' Confederation (AIBOC) staged a sit-in in front of the Regional Office of the Reserve Bank here on Friday to protest the proposed merger of Lord Krishna Bank with ...
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EVENTS
Workshop on World Bank report
A workshop to disseminate the World Bank's flagship report on India entitled `India Development Policy Review: Inclusive Growth and Service Delivery: Building on India's Success' is being held in Hyderabad on August 28. The ...
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`Every individual must be credit-worthy'
Set up venture capital fund, Kalam tells BoI
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OUTLOOK
Banks eyeing alternative asset classes
Wealth management now includes art, real estate investments
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Corpn Bank eyes Rs 1-lakh-cr turnover
Corporation Bank is targeting business volume of Rs 1 lakh crore within 2-3 years, according to Mr B. Sambamurthy, Chairman and Managing Director. Stating that he had not set a specific timeframe for achieving this goal, but would nevertheless ...
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