MONEY & BANKING
FARM CREDIT
SBI issues fresh loan eligibility letters to farmers
State Bank of India has started issuing fresh loan eligibility to farmers under the agriculture debt waiver scheme. SBI is expected to waive off loans worth Rs 7,000-8,000 crore under this scheme and around 50 lakh farmers are likely ...
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Farm loan waiver monitoring
Top Executives of all commercial banks have been asked to visit rural and semi urban branches to ensure efficient and speedy implementation of the Agricultural Debt Waiver and Debt Relief Scheme, in a time-bound manner before June 30. As ...
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FOREX
Rupee gains on RBI move
The rupee gained against the dollar on Monday on news that the Reserve Bank of India will provide liquidity to oil companies through the special open market operations. On Friday, the RBI announced that it would provide foreign currency to oil ...
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SOFTWARE
Intense Tech tool for ICICI Pru
Intense Technologies on Monday announced that ICICI Prudential Life Insurance has implemented Intense’s intelligent Enterprise Customer Communication Management (iECCM) Suite for handling customer documents. The CEO of Intense ...
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GENERAL INSURANCE
Dabur, Liberty Mutual tie up for non-life foray
Mumbai, June 2 The Burman family controlled Dabur Group and the US-based Liberty Mutual Group have announced their plan to form a non-life insurance company in India. The company plans to provide personal and commercial insurance ...
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FINANCIAL POLICY
Capital adequacy norms for NBFCs hiked to 12%
RBI concerned over highly leveraged borrowings
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PRIVATE BANKS
ICICI Bank raises credit card rates
Rising default rates set alarm bells ringing
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J&K Bank to grow biz in home state
New Delhi, June 2 J&K Bank plans to grow the share of Jammu and Kashmir in its advances portfolio to 50 per cent this fiscal and ride on improved margins from this exercise.“We will continue with the efforts taken in the ...
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INTEREST RATES
Corporation Bank hikes NRE rates
Corporation Bank has increased the NRE term deposits rates with effect from June 1. A bank release said here on Monday that the interest rate on NRE term deposits has been increased to 3.16 per cent (3.08 per cent) for a tenure of one year to ...
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SBH hikes rates on NRE deposits
State Bank of Hyderabad (SBH) increased interest rates on non-resident external (NRE) term deposits with effect from June 1.The interest on deposits for one year to less than two years increased to 3.16 per cent from 3.08 per cent, for two years ...
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GOVT BONDS
Bond prices rise
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SHORT TERM INSTRUMENTS
Call rates ease
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TRADE & LABOUR UNIONS
Bank unions for ban on high cost deposits
Chennai, June 2 The All India Bank Employees Association (AIBEA) bemoans the rise in high cost deposits in banks. Its General Secretary, Mr C H Venkatachalam, calls for a government ban on banks raising costly, bulk deposits.“Many ...
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ALLIANCES & JOINT VENTURES
Union Bank, Emkay in pact for e-broking
Chennai, June 2 Union Bank of India and Emkay Share and Stock Brokers Ltd on Monday announced a strategic alliance under which Emkay would offer its online trading services to the bank’s customers. This means that a customer of ...
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RIGHTS ISSUE
Rights issue: Allahabad Bank gets nod to approach Ministry
Kolkata, June 2 The board of directors of Allahabad Bank at a meeting here on Monday approved the proposal to approach the Finance Ministry to obtain permission for a rights issue. However, the details of the issue were not immediately ...
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PEOPLE
Damodaran is ING Chief Representative
New Delhi, June 2 ING, a global financial services major, has announced the appointment of Mr M Damodaran, former SEBI Chairman, as its Chief Representative and Advisor in India. In this newly created non-executive role, Mr Damodaran ...
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