Business Daily from THE HINDU group of publications
Friday, September 12, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Friday, September 12, 2008 ePaper | Mobile/PDA Version | Audio |
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MONEY & BANKING LIFE INSURANCE: LIC bags Infosys’ group cover policy Rs 24,000 cr insurance for 97,000 employees. Bangalore, Sept. 11 Infosys Technologies Ltd has taken one of the largest group cover policy in corporate India from Life Insurance Corporation of India for its 97, 000 employees for Rs 24, 000 ... RBI & OTHER CENTRAL BANKS: RBI may cap charges on e-payment services Banks fear hit on fee-based income, hope for higher volumes. Mumbai, Sept. 11 The Reserve Bank of India may fix maximum charges on the fees charged by banks on outstation cheque clearance and online fund transfers through RTGS and NEFT. ... INFORMATION TECHNOLOGY: 3i Infotech to adopt hub and spoke model Service centres in rural areas for banking support. Mumbai, Sept. 11 Technology company 3i Infotech will assist banks and financial institutions in reducing the processing time for various back office operations by setting up 255 new service ... FOREX: Rupee decline continues GOVT BONDS: Bond prices up 61 paise ALLIANCES & JOINT VENTURES: Andhra Bank, Reliance MF tie up Andhra Bank will be cross selling mutual fund (MF) products of the Reliance Asset Management Company. The Andhra Bank Chairman, Mr R.S. Reddy, and the Chief Executive Officer, Reliance Mutual Fund, Mr Vikrant Gugnani, signed a memorandum of ... GENERAL INSURANCE: Health cover for the poor SHORT TERM INSTRUMENTS: Call rate ends lower Call rate closed lower at 7.75-8.25 per cent, against the previous close of 8.70-8.80. In the one-day repo auction under the liquidity adjustment facility, the RBI received and accepted 11 bids worth Rs 15,195 crore. There were no reverse repo ... PUBLIC SECTOR BANKS: Andhra Bank can raise funds without Govt stake dilution Andhra Bank does not have to worry about dilution of the Government stake below 51 per cent to meet its capital requirements, as it has comfortable headroom for Rs 2,630 crore in tier I and II ... RBI & OTHER CENTRAL BANKS: Cabinet approves rise in contribution to IMF New Delhi, Sept. 11 In its continued efforts to seek a greater voice in multilateral financial institutions, India plans to enhance its contribution to the International Monetary Fund’s financial ... OUTLOOK: Turbulence ahead for Asian banks, says S&P Chennai, Sept. 11 Asian banking systems will face some turbulence but not much more, said a report by international rating agency Standard & Poor’s. ... ALLIANCES & JOINT VENTURES: IOB in pact with Repco Foundation Chennai, Sept. 11 Indian Overseas Bank has entered into a Memorandum of Understanding with Repco Foundation for Micro Credit (RFMC) for accelarating microcredit development in Thiruvallur and Tiruvarur Districts of Tamilnadu. ... Comments & Letters to the Editor to: bleditor@thehindu.co.in Subscribe to: Business Line |
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