MONEY & BANKING
AWARDS & HONOURS
Rashmi Banga bags Exim Bank award
Dr Rashmi Banga, economist with the Unctad-India Programme, has bagged Exim Bank's International Economic Development Research (IEDRA) Award 2005 for her doctoral dissertation titled `The Nature, Pattern and Impact of Japanese and US Foreign ...
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INSIGHT
United Western Bank: A failure well flagged
RBI had hoisted cautionary signal at every irregular step taken by the bank
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FOREX
Re gains on $ inflows, exporter selling
The rupee gained against the greenback for the third day in a row on good dollar inflows and exporter selling. The domestic currency opened at 46.30/31, touched a high of 46.10/11, before ending trade at 46.16/17. On Tuesday, ...
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LIFE INSURANCE
SBI Life on expansion spree
SBI Life Insurance is on an expansion blaze in Tamil Nadu. Its Agency Channel has plans to strengthen its operations in Nagercoil, Salem, Erode, Vellore and Pondicherry aimed at making deeper inroads to harness the potential in ...
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RBI & OTHER CENTRAL BANKS
India moves up in World Bank's `Doing Business' rankings
Country's performance is still low in enforcing contracts
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ADB happy with tsunami recovery projects
Tells Govt to involve more people in the projects
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PUBLIC SECTOR BANKS
IOB opens field general manager office in Coimbatore
Indian Overseas Bank is trying to get the best from centres where it has a strong hold by opening what is known as `Field General Manager's (FGM) office', an extended arm of its central office. The bank has already opened this extended arm in ...
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SBBJ offers reduced rentals for lockers
State Bank of Bikaner and Jaipur (SBBJ) has launched a special festival bonanza offer that provides safe deposit lockers at reduced rentals. This offer is open for four months with effect from September 1. A press release issued ...
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GOVT BONDS
Bond prices fall on profit booking
Bond prices fell by around 15 paise as traders booked profits. The traded volume on the order matching system was Rs 2,990 crore (Rs 5,695 crore). Dealers said bond prices were initially trailing the US ten-year treasury yield, which rose to ...
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CREDIT MARKET
Easier exposure limit for infrastructure lending sought
To meet the funding requirement of mega power projects
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SHORT TERM INSTRUMENTS
Call rate unchanged
The call rate was unchanged at 6-6.1 per cent. In the first one-day reverse repo auction under LAF, the Reserve Bank of India received and accepted 20 bids amounting to Rs 25,920 crore and in the second one-day reverse repo ...
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FIXED DEPOSITS
Pandyan Grama Bank deposit scheme
Pandyan Grama Bank (PGB) has introduced a new deposit scheme `PGB Double" that doubles in 102 months with a special offer of quarterly compounding interest rate of 8.25 per cent. Senior citizens are offered 0.50 per cent more ...
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TMB hikes deposit rates
Tamilnad Mercantile Bank (TMB) has revised upwards its interest rates on domestic term deposits with effect from August 28. The rate of interest on its different maturity periods has been raised from 25 basis points to 100 basis points. It ...
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MERGERS & ACQUISITIONS
UWB okays Rs 350-cr rehab package
Joint offer from Maharashtra Govt, SICOM and FI
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CO-OPERATIVES
RBI signs MoU with Rajasthan Govt
The Reserve Bank of India has signed a memorandum of understanding with the Rajasthan Government to strengthen the State's urban co-operative banks. A State level Task Force on Urban Cooperative Banks has been constituted for ...
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