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MONEY & BANKING
FINANCIAL MARKETS:
Rupee breaches 45-mark on strong dollar purchases
Mumbai, Sept. 10 The rupee depreciated by 26 paise against the dollar on Wednesday, to levels last seen in November 2006. ...
CREDIT MARKET:
‘Home loan delinquencies may rise on reckless lending’
There is no substitute for prudent lending, says HDFC chief. Mumbai, Sept. 10 Some banks in India may see delinquencies in the home lending going up, due to reckless lending, said Mr Deepak Parekh, Chairman, HDFC. ...
INSIGHT:
Challenges before the new RBI Governor
Dr D. Subbarao has taken over from Dr Y. V. Reddy as the Reserve Bank of India’s Governor at a time of uncertainty on various counts: a slowdown in the world economy in the wake of the sub-prime crisis, rising tensions in Central Asia on ...
GOVT BONDS:
Banks run short of SLR securities
Surge in deposits results in chase to meet mandatory obligations. Bangalore, Sept. 10 Faced with an upsurge in deposit growth, banks are currently faced with a shortage of Government securities for complying with the Statutory Liquidity Ratio ...
GOVT BONDS:
Bonds shed intra-day gains
Bond prices opened higher on Wednesday and the 10-year G-Sec touched a new high in day-trade. However, profit-booking pushed prices down and they closed marginally higher from the previous close. The scheduled auction of Rs 8,000 crore worth ...
PRIVATE BANKS:
YES Bank raises Rs 200 cr debt
FIXED DEPOSITS:
SBH deposit mobilisation drive
State Bank of Hyderabad (SBH) has launched deposit mobilisation campaign Deposit Dhamaka. The bank is offering incentives, including an additional interest of 0.25 per cent a year for all term deposits including recurring deposits with maturing ...
NBFCS:
Peerless to launch asset management co soon
Net profits lower due to higher tax outgo. Kolkata, Sept 10 The Peerless General Finance and Investment Company Ltd (PGFI) will soon launch an asset management company. ...
LIFE INSURANCE:
Max New York on expansion mode
Chennai, Sept. 10 Private life insurance player Max New York Life plans to penetrate the yet untapped life insurance market in India through expansion of distribution network, increase in employees and branch offices. ...
CREDIT MARKET:
‘Indian market is ready for loan applications online’
One is once again witnessing a proliferation of online offerings, with newer companies targeting niche verticals. BankBazaar.com claims to be the first neutral company worldwide to provide customised competing loan offers from leading banks and ...
GENERAL INSURANCE:
Star Health, Sankara Nethralaya to offer eye care
Kolkata, Sept. 10 Star Health & Allied Insurance Company is planning to launch this year a health insurance product called ‘Eye Care’ for eye diseases. This is in association with Chennai-based eye hospital Sankara Nethralaya, ...
CREDIT MARKET:
Loans to MFs: Banks get 3 more months to meet RBI norms
Mumbai, Sept. 10 The Reserve Bank of India has extended the deadline for banks to include loans to mutual funds and the Irrevocable Payment Commitments (IPCs) to stock exchanges (BSE & NSE) on behalf of MFs or FIIs under the capital market ...
GENERAL INSURANCE:
Apollo DKV mulls long-term travel product
New Delhi, Sept. 10 Apollo DKV Insurance Company Ltd (Apollo DKV), a stand-alone health insurer, plans to come up with a long-term health insurance product for overseas travellers by the end of calendar 2008 or by January next, a top official ...
GENERAL INSURANCE:
Bajaj Broking forays into art insurance
Bajaj Capital Insurance Broking Ltd (BCIBL), a composite insurance broker, has forayed into the area of fine art insurance, a top company official said. ...
MORTGAGE:
AIG eyeing mortgage market
AIG’s proposal for setting up a mortgage guarantee company in India is awaiting Government and regulatory clearance. Speaking at a CII conference here on Wednesday, the Vice-Chairman of AIG’s and the former US Ambassador to India, Mr ...
SHORT TERM INSTRUMENTS:
Call rates move up marginally
Inter-bank call rates closed marginally higher at 8.7-8.8 per cent against the previous close of 8.50-8.75 per cent. In the one-day reverse repo auction, the Reserve Bank of India received and accepted 12 bids for Rs 12,985 crore. There were no ...
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