MONEY & BANKING
OVERSEAS BORROWINGS
Bankers fret over delay in ECB guidelines
It was back in October 2006 that the Reserve Bank of India announced that it would allow an increase in the extent to which banks could borrow overseas, through the external commercial borrowings (ECB) route. In the `Mid-term review of Annual ...
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IndusInd launches GDR issue
IndusInd Bank plans to raise above Rs 130 crore through global depository receipts. The bank has launched the issue of global depository receipts on the Luxembourg Stock Exchange, said a BSE announcement. The bank will issue ...
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FINANCIAL SERVICES
SunTec pricing tool for DBS
SunTec Business Solutions, a player in relationship-based pricing and centralised billing solutions, has announced that Singapore-based DBS will deploy its flagship product TBMS-F. This would help DBS, one of the largest financial services ...
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PENSION PLANS
UTI Mutual's micro-pension scheme for rural women
UTI Mutual Fund has entered into an arrangement with Mann Deshi Mahila Sahakari Bank Ltd (Mann Deshi) for providing its members an investment opportunity through a micro-pension initiative under its Retirement Benefit Pension Fund. This will ...
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FOREX
Rupee closes at 20-month high
The rupee closed at a 20-month high of 43.30 against the dollar on Monday due to a liquidity crunch in the banking system. The home currency opened at 43.50/52 but finally rose by 26 paise to close at 43.30 against the previous ...
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NBFCS
Magma raises $15 m from Netherlands finance co
The board of Magma Leasing Ltd (Magma) at its meeting here on Monday, approved placement of $15 million (approximately Rs 65 cr) of redeemable preference shares to the Netherlands Development Finance Company (FMO), Netherlands. The fresh ...
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LIFE INSURANCE
Bajaj Allianz hikes capital base
Bajaj Allianz Life Insurance Company has hiked its capital base by Rs 130 crore to Rs 700 crore. Mr Sam Ghosh, Country Manager of Allianz and CEO of Bajaj Allianz said: "We are very confident that our pace of growth will ...
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GENERAL INSURANCE
Motor insurance pool to take off from April 1
Intra-insurer differences, service tax issue sorted out
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FINANCIAL POLICY
Kerala Govt to amend Money-lenders Act
No decision on power tariff hike
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GOVT BONDS
Bond prices fall by 35 paise
Bond prices fell by around 35 paise on the back of the Rs 6,000 crore auction under the Market Stabilisation Scheme (MSS). Total traded volumes on the order-matching system were Rs 1,805 crore (Rs 1,850 crore). "Since liquidity conditions are ...
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CREDIT MARKET
Cartridge World ties up with SBI
Cartridge World, printer cartridge refilling services brand, has tied up with SBI, to fund prospective franchisees to expand the company's operations in India. The SBI tie-up franchisees can approach the bank for loans at convenient terms that ...
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SHORT TERM INSTRUMENTS
Call rates rule at 13-15%
Call rates ruled at 13-15 per cent, higher than the previous close of 11-12 per cent on tight liquidity. "The market expects the liquidity to tighten further as the RBI will suck out Rs 6,000 crore through an MSS auction this ...
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CREDIT CARDS & DEBIT CARDS
Swipe Visa card at Andhra Bank to fly Kingfisher
Bank signs ticketing pact with airlines
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ALLIANCES & JOINT VENTURES
Syndicate Bank in pact with CARE
Syndicate Bank has entered into an MoU with CARE, one of the leading credit rating agencies in the country. The MoU was signed today to utilise the services of CARE for supporting SMEs by making available affordable, transparent, comprehensive ...
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OUTLOOK
Citigroup chief upbeat on India
Expansion plans include rural banking, micro finance
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