MONEY & BANKING
INSIGHT
Operational Risks — The new challenge for banks
Though operational risk assessment is in the early stages of development compared to credit and market risks, its significance has grown.
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FOREX
Rupee dips against dollar
The rupee dipped against the greenback on dollar demand on Monday. The currency opened at 44.20/23 and fell to a low of 44.26. It finally closed at 44.26 against Friday's 44.20/21. Dealers said the rupee opened slightly lower ...
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INFORMATION TECHNOLOGY
BoI to network more branches
Bank of India (BoI) will network another 500 branches in next three-six months to achieve the objective of bringing almost 95 per cent of its business volume under core-banking ahead of schedule. The Chairman and Managing Director of BoI, Mr ...
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ATM at Birla Mandir
MR S.C. GUPTA (LEFT), CMD, Punjab National Bank, and Mr Sidharth Birla, industrialist and Trustee of Birla Mandir, at the inauguration of an ATM in Birla Mandir in the Capital on Monday. This is the 153rd ATM of the bank in Delhi. PNB has over ...
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Dena Bank adopts core banking system
Dena Bank today launched core banking system starting with its Mahim branch in Mumbai. The bank plans to put around 92 per cent of its business under core banking in the next 15 quarters with 850 of the 1,122 branches, including ...
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INSURANCE
Vijaya Bank insurance venture hits IRDA hurdle
Objections raised over vending products for broking co
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LIFE INSURANCE
MetLife unveils 2 ULIPs
MetLife India Insurance Co Pvt Ltd has launched two new unit-linked insurance plans, Met Smart Plus and Met Smart Premier single pay. A company release said that both the products could be purchased by a one-time payment. The ...
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GENERAL INSURANCE
Reinsurance cover by GIC cut to 15% from April
As part of the second phase of the insurance sector reforms, the statutory share of the national reinsurer, the General Insurance Corporation of India (GIC), is to be reduced to 15 per cent from April. Under current regulations, the domestic ...
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PUBLIC SECTOR BANKS
Canara Bank road show
The staff of Canara Bank under the Thiruvananthapuram Circle office has conducted a `road show' along the M.G. Road. Mr P. Mohanan, General Manager, Thiruvananthapuram Circle, led the show in which more than 200 employees ...
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Corpn Bank to extend scheme
Corporation Bank will soon replicate the Corp Gram Mitra Yojana (CGMY) scheme, it launched in Goa on a pilot basis, in several other States. According to Mr B. Sambamurthy, Chairman and Managing Director, the scheme had been ...
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GOVT BONDS
Bond prices rise by 30 paise
Bond prices rose by about 30 paise and yields fell by about three-four basis points on the RBI's decision to absorb only Rs 2,000 crore under the market stabilisation scheme (MSS) through the auction of 6.65 per cent Government ...
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SHORT TERM INSTRUMENTS
Call remains steady
Banks placed excess cash of Rs 32,820 crore with the RBI and the central bank accepted Rs 3,000 crore under the modified liquidity adjustment facility. Call closed at 5.20-5.40 per cent today against previous close at 5.40-5.60 ...
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SECURITISATION
Crisil outlines steps for banks to free up funds
Securitising existing loans can help banks free up funds for lending without diluting equity or incurring the constraints of additional deposits, said a study by Crisil. "This source of funds today works out to be 80 basis points cheaper than ...
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FIXED DEPOSITS
Canara Bank Centenary deposit plan
Canara Bank has launched a new deposit product "Canara Bank Centenary Deposit Scheme" with effect from Monday. A bank release said that the minimum tenure of the deposits would be one year with an interest rate of 9.5 per cent. ...
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OUTLOOK
`Data management main challenge under Basel norms'
All the surveyed banks appreciated the RBI shift in deadline to 2008 as an opportunity to adopt a holistic approach.
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