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MONEY & BANKING
MERGERS & ACQUISITIONS:
BPOs likely to face more short-term pains
MELTDOWN MERGERS. Bangalore, Oct. 5 The Indian BPO industry, hurt by a slowing business environment due to the sub-prime crisis in the US, expects further pain in the short-term due to the recent shotgun mergers of large US investment banks.The ...
INSIGHT:
The rise and fall of investment banks
Barely five months ago, five big investment banks straddled the five continents but now none of them exists in its original form. All of them were based in Wall Street, New York and had tremendous influence over financial markets all over the ...
INSIGHT:
Getting ‘real’ about financialisation
Wall Street tail wagging Main Street dog. Financial Engineering taking precedence over Real Engineering. Speculation riding roughshod over Enterprise. These are some of the familiar epithets ascribed to the US economy that many see ...
DEBT MARKET:
Bond prices buoyant even as liquidity remains tight
Outlook bullish on thin bid offer spreads. Bangalore, Oct. 5 Bond prices remained buoyant powered by receding global oil prices and banks’ demand for maintaining the statutory ...
NBFCS:
KTDFC to modernise transport infrastructure in Kerala
Kerala Transport Development Finance Corporation Ltd, an NBFC offering vehicles loans to individuals and transport operators, has chalked out an ambitious programme to modernise the transport infrastructure in Kerala. ...
REGIONAL RURAL BANKS:
Karnataka Vikas Grameena Bank targets Rs 10,000-cr biz by 2010
Records 75 per cent growth post amalgamation. Dharwad, Oct. 5 The Dharwad-headquartered Karnataka Vikas Grameena Bank – a regional rural bank (RRB) sponsored by Syndicate Bank – is eyeing a business of Rs 10,000 crore by ...
FIXED DEPOSITS:
Indian Bank hikes deposit rates
Indian Bank has hiked interest rates on FCNR (B) and NRE deposits with effect from October 1. For FCNR (B) deposits, in US dollar the revised interest rate has been fixed at 3.71 per cent for deposits of one year and above but less than two ...
OUTLOOK:
Indian Overseas Bank sees lower profitability
Chennai, Oct. 5 Indian Overseas Bank sees a ‘tough’ year ahead and expects lower profitability for the current financial year. The bank had reported a 4.8 per cent fall in profits for the first quarter (Rs 255.9 crore compared ...
HOUSING FINANCE:
Kerala to pay interest on home loans
Thiruvananthapuram, Oct. 5 The Kerala Government will meet the interest burden if grama panchayats take bank loans to implement the EMS Housing Scheme, according to the Finance Minister, Dr ...
CREDIT MARKET:
German bank eyeing core sector lending in India
Mumbai, Oct. 5 German bank Norddeutsche Landesbank, which inaugurated its representative office in Mumbai recently, has commitments for €600 million from Indian companies. The bank is looking at financing companies in core sectors such ...
FIXED DEPOSITS:
IOB hikes deposit rates
Chennai, Oct. 5 Indian Overseas Bank (IOB) has, with effect from October 1, hiked interest rates on NRE term deposits. The earlier rates and revised rates are given in the ...
INSIGHT:
Europe’s contingency plan
If we look at history, human beings are most creative during times of crisis or adversity. And, the reality is that innovation, most of the time, is the result of creativity. The European continent is developing a unified strategy and ...
HOUSING FINANCE:
Joint housing loan
I have taken a joint housing loan along with my husband. While both of us are taxpayers and eligible for Section 80C benefits, I wonder whether the limit of Rs 1.5 lakh on deductibility of interest gets halved or stays intact for each ...
PRIVATE BANKS:
New AGMs of Karnataka Bank
Karnataka Bank Ltd has promoted five chief managers to the position of Assistant General Manager with effect from October 1. A bank release said here that Mr Ananthapadmanabha B., Mr Chandrashekar Rao B., Mr Ravishankar N.R., Mr Venkappaya Bhat ...
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