MONEY & BANKING
FOREX
Rupee firms up
The rupee strengthened against the dollar by almost nine paise on Friday on strong FII inflows. "The Reserve Bank of India seems to have kept off the market," said a dealer at a private bank. The home currency opened at around ...
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TECHNOLOGY
Citibank opens biometric ATMs
For micro-finance customers
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NBFCS
No more deposits, Margadarsi told
The Reserve Bank of India (RBI) has asked Margadarsi Financiers, a Hyderabad-based Hindu Undivided Family (HUF), not to accept fresh deposits or renew matured deposits. The unincorporated body has also been advised to put in place a mechanism ...
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LIFE INSURANCE
LIC Ernakulam division retains top spot in South
The Ernakulam Division of the Life Insurance Corporation of India has continued to retain No 1 spot among the 12 southern divisions for the current fiscal with a sale of over 2 lakh policies and a first premium income of Rs 47.86 crore in the ...
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DEBT MARKET
Bond prices remain flat
Bond prices were flat on concerns over higher crude oil prices. Total traded volumes on the order matching system were Rs 4,490 crore (Rs 4,795 crore). Dealers said bond prices opened firm tracking the US 10-year yield, which ...
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PRIVATE BANKS
`L&T stake will improve City Union Bank's image'
Kumbakonam headquartered City Union Bank perceives that the 9.99 per cent stake by industrial major L&T in the bank would create an image for the bank and help improve the bank's business. `They may use our bank for placing deposits and other ...
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PUBLIC SECTOR BANKS
Corporation Bank joins BSE as clearing bank
A bank release said here on Friday that an agreement between BSE and Corporation Bank was signed on Thursday at Mumbai. Speaking on the occasion, Mr K. L. Gopalakrishna, Executive Director, Corporation Bank, said it was a privilege to be ...
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SHORT TERM INSTRUMENTS
T-Bill auction
The Reserve Bank of India has announced that the auction of 91-day treasury bills and 364-day T-bills would take place on December 6, 2006, using multiple price auctions. The notified amount for the 91-day T-bills would be Rs 2,000 crore, of ...
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Call rate remains unchanged
The call rate was unchanged at 6.10 per cent-6.20 per cent. In the first three-day reverse-repo auction under LAF, the RBI received and accepted five bids for Rs 1,560 crore. There were no repo bids. In the second three-day ...
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CREDIT CARDS & DEBIT CARDS
Global Visa cardholders spent Rs 6,000 cr
`Visitors from Europe were biggest spenders in 12 months'
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FIXED DEPOSITS
Canara Bank trims dollar deposit rates
Canara Bank has revised the interest rates for foreign currency non-resident deposits (banks) for American dollars across all maturities effective from today, in line with soft global interest rates. However, the bank has hiked the deposit ...
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Lakshmi Vilas lowers NRE deposit rates
Lakshmi Vilas Bank has effected a downward revision of interest rates on deposits held under FCNR, NRE and RFC schemes from December 1. The interest rates on deposits accepted under FCNR (B) dollar deposit has been lowered to 5.24 per cent ...
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EVENTS
`Fuel price cut to impact inflation'
Fuel price cut will have an effect on the inflation, according to Dr Rakesh Mohan, Deputy Governor, RBI. Fuel prices will have a say on the wholesale price index, he added. Inflation is running at 5.45 per cent (5.29 per cent) ...
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