MONEY & BANKING
DIVIDEND ANNOUNCEMENT
Visakha Co-op Bank dividend
The Visakhapatnam Co-operative Bank has declared six per cent dividend for the year 2005-2006. The announcement was made at the annual general meeting of the bank here on Sunday by the Chairman, Mr M. Anjaneyulu. He said the ...
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FOREX
Rupee turns easy against dollar
The rupee turned easy against the dollar on Monday on month-end demand not matched by dollar inflows. There was also oil related buying, said dealers. The rupee opened at 45.90 and touched a high of 45.84. It ended trade at ...
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STOCKS
DCB's main promoter to trim stake
Bank hopes to raise Rs 150-180 crore through IPO
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LIFE INSURANCE
Tata AIG opens Kottayam branch
Tata AIG Life Insurance Company Ltd has announced the opening of a full service branch office at Kottayam. Ms Neetasha Joshi, Zone Business Head, South of the company, inaugurated the 83rd branch of the Tata AIG Life. The opening ...
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Max NY raises capital base
Max New York Life on Monday announced that it has increased its capital base by Rs 30 crore, taking it to Rs 617 crore . This has been done to support the company's expansion and to conform to the solvency margin requirements, ...
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GENERAL INSURANCE
Free pricing to see lower premium rates: Swiss Re
Reinsurers bracing for price wars, some turmoil
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IOB offers cover for home, retail loans
Indian Overseas Bank offers `liability insurance' cover, as a value addition on home loans and other retail loans as well. The effort is aimed at insulating the dependents from any unexpected contingency. Bank sources say that the premium rates ...
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PRIVATE BANKS
Kotak Mahindra launches gold bars
Kotak Mahindra Bank launched 24-carat Swiss gold bars under the brand name of "Gold Eternity". The gold bars will be available in lots of 50 grams and 100 grams across 42 branches of the bank. The gold bars are manufactured in ...
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GOVT BONDS
Ministry releases G-Secs calendar
The Finance Ministry on Monday released an indicative calendar for issuance of government securities for second half of fiscal 2006-07. The borrowing calendar, issued after consultation with the Reserve Bank of India, covers the ...
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Bond prices rule flat
Bond prices ruled flat. "The market was almost flat on on Monday. It is awaiting the auction calendar," said a dealer at a private bank. Traded volume on the order matching system was Rs 2,865 crore (Rs 6,730 crore). The 7.59 per ...
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SHORT TERM INSTRUMENTS
Call rates steady
Call rates were between 6.40 and 6.50 per cent against Friday's 6.40-6.60 per cent. In the first one-day reverse repo auction under LAF, the Reserve Bank of India received and accepted 5 bids amounting to Rs. 5.545 crore and in ...
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MERGERS & ACQUISITIONS
Vijaya Bank eyes acquisitions
Vijaya Bank would, during the next fiscal, look at acquiring or consolidating with a mid-sized or smaller bank to catapult itself into the league of large banks, its Chairman and Managing Director, Mr Prakash P. Mallya, has said. "We are now a ...
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REGULATORY BODIES & RULINGS
Promote no-frills accounts, says Banking Ombudsman
The Banking Ombudsman (Karnataka) has urged the bankers in Dakshina Kannada district to popularise `no-frills' accounts to provide banking facilities to more people. Addressing the bankers of Dakshina Kannada district at Kanara Chamber of ...
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ALLIANCES & JOINT VENTURES
Agricultural Bank of China, Canara Bank plan tie-up
Agricultural Bank of China (ABC) and Canara Bank on Monday expressed their keenness to build partnership between them in several areas, particularly in the areas of agricultural and rural employment promotions schemes. A top level delegation ...
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CO-OPERATIVES
`No cause for panic on co-op banks'
`With administrators taking over the banks, many of them have had a turn around'
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