MONEY & BANKING
FOREX
Forex reserves fall by over $1 b
Forex reserves dropped by $1.320 billion to touch $165.138 billion, for the week ended September 8. In the previous week, reserves increased by $1.132 billion to touch $166.458 billion. Foreign currency assets decreased by $1.317 billion to ...
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Rupee gains against dollar
The rupee gained against the dollar on Friday, tracking the movement of yen. "The yen was stronger against the dollar by 30 basis points on cross currency movements," said a dealer at a private bank. The home currency opened ...
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INFORMATION TECHNOLOGY
RBI to launch NDS-Call from Sept 18
The Reserve Bank of India will launch a screen-based negotiated quote-driven system for all dealings in call or notice and term money markets NDS-Call, from September 18. The NDS Call system provides an electronic dealing platform with features ...
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INSURANCE
3i Info wins award
3i Infotech Asia Pacific has won the "Service Provider of the Year" Award at the 10th Asia Insurance Industry Awards ceremony. 3i InfoTech was chosen for Service Oriented Architecture (SOA) that uses the latest web-based technologies to ensure ...
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NBFCS
SREI raises $45-m syndicated loan
SREI Infrastructure Finance Ltd has raised a long-term syndicated loan of $45 million (Rs 210 crore) from the Netherlands Development Finance Company (FMO). While FMO accounts for $15 million of the loan, Fortis-Bank of Belgium and Cordiant ...
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LIFE INSURANCE
Aviva roadshows across Kerala
As part of its initiatives to expand the customer base in India and build awareness about the importance of life insurance policies, Aviva Life Insurance has kicked off a series of road shows across 14 towns and cities of Kerala. ...
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GENERAL INSURANCE
Weather-linked cover soon
In a bid to protect coffee growers from the vagaries of blossom showers and monsoons, the Government proposes to come out with a weather-linked insurance scheme soon, said Mr G.V. Krishna Rau, Chairman, Coffee Board, on Friday. Addressing the ...
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CREDIT RATING
Raters yet to standardise norms for hybrids
Worldwide, upper Tier II papers are ranked a notch lower
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RBI & OTHER CENTRAL BANKS
IMF to work for `a broader reform of quotas and voices'
The International Monetary Fund (IMF) Managing Director, Mr Rodrigo de Rato, said in Singapore on Friday that "there is a consensus that we need a new formula ... to measure to what extent countries are rightly represented or not at the ...
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PUBLIC SECTOR BANKS
One more bank may join alliance
Bank of Maharashtra tipped
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Bank of India raises $240 m via bonds
Bank of India raised $240 million from the overseas market through its medium term note programme. The 10-year upper Tier-II bond issue was oversubscribed to over $1 billion, said a press release from the bank. The bank ...
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BoB raises Rs 950 cr Tier-II capital
Bank of Baroda (BoB) has raised fresh capital of Rs 950 crore (Tier-II bonds) to fund its expected business growth this fiscal, its Chairman and Managing Director, Dr Anil Khandelwal, has said. "This was raised in September ...
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FINANCIAL INSTITUTIONS
Ministry to seek fresh Cabinet nod for PFC IPO
The Power Ministry is in the process of seeking Cabinet approval afresh for the initial public offer of Power Finance Corporation (PFC), the Power Secretary, Mr R.V. Shahi, said on Friday. "We will go to the Cabinet soon with a proposal for ...
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FOREIGN INSTITUTIONAL INVESTORS
Cap on FIIs debt investments
Foreign Institutional Investors investing 100 per cent in debt will be subject to a ceiling of $390 million while investing in upper Tier II bank instruments. For FIIs who invest 70 per cent in equity and 30 per cent in debt, the limit will be ...
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GOVT BONDS
Bond prices fall around 30 paise
Bond prices fell by around 30 paise as traders turned jittery ahead of the announcement of the 6-monthly government securities auction calendar. The total traded volume on the order matching system was Rs 1,840 crore. Dealers said the auction ...
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NON-PERFORMING ASSETS
BoM keen to trim NPAs to 1%
To go for cash recovery, credit monitoring
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CREDIT MARKET
Food credit declines
The gross bank credit has gone up by Rs 16,483 crore to Rs 15,92,628 crore as outstanding on September 1, according to the Reserve Bank of India's Weekly Statistical Supplement. It includes food credit, which decreased by Rs 6 ...
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SHORT TERM INSTRUMENTS
Call rates at 6.05-6.15 pc
Call rates on Friday were at 6.05-6.15 per cent against 6-6.10 per cent yesterday. The RBI received and accepted 11 bids amounting to Rs 10,230 crore in the first three-day reverse repo auction under LAF and 34 bids for Rs 12,665 ...
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TRADE & LABOUR UNIONS
AIBEA calls for probe into UWB takeover issue
`We oppose payment of premium to the shareholders by a public sector bank and there ought to be no bailout using public money.'
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ALLIANCES & JOINT VENTURES
Three PSBs ink pact for strategic collaboration
Oriental Bank of Commerce (OBC), Indian Bank and Corporation Bank today signed an alliance to share business. The Memorandum of Intent (MoI) will cover e-payment systems, sharing of IT infrastructure, training, ATMs, treasury resources, loan ...
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CONSUMERISM
`Most banks unsure of services cost'
Panel finds many charges unfair
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RIGHTS ISSUE
LVB plans Rs 98.36-cr rights issue
Lakshmi Vilas Bank Ltd has proposed a rights issue of 1.96 crore equity shares to raise Rs 98.36 crore, as per a draft letter of offer filed with the SEBI on Friday. The draft offer proposes to issue 1,96,71,439 equity shares of Rs 10 each at ...
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