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MONEY & BANKING
CREDIT MARKET:
Forex reserves see $2.51-b spike
Mumbai, Sept. 26 The foreign exchange reserves increased by $2.51 billion to touch $291.972 billion for the week ended September 19, according to figures released by the Reserve Bank of India’s Weekly ...
CREDIT MARKET:
‘Standalone SMEs might find the going tough’
SBI to centralise SME loan processes, hasten turnaround time. Coimbatore, Sept. 26 The Small and Medium Enterprises (SMEs) segment is witnessing a paradigm shift with two clear models emerging and SMEs functioning on a stand-alone basis would ...
GOVT BONDS:
G-sec auctions devolve on PDs
Bond prices weakened as the Reserve Bank of India set a lower than expected cut off price for the auction of the 7.94 per cent-14 year-2021 paper. The paper devolved on primary dealers as there were not too many takers for it. Prices opened ...
FOREX:
Rupee weakens by 33 paise
The rupee depreciated by 33 paise on Friday against the greenback due to large-scale dollar demand from big corporate houses and oil importers, said dealers. The currency opened at 46.15/16 and weakened to touch an intra-day low of 46.57/58. ...
SHORT TERM INSTRUMENTS:
Call rates lower
Call rates closed lower at 9-9.5 per cent, against the previous close of 10-10.25 per cent. In the three-day repo auction under the first liquidity adjustment facility (LAF), the RBI received and accepted 28 bids worth Rs 43,505 crore. There were ...
GENERAL INSURANCE:
‘Health insurance penetration below national average in AP’
The overall percentage of households having health insurance in Andhra Pradesh is at 0.62 per cent which is much lower than the national average of 1.2 per cent, according to a study conducted by Max New York Life Insurance and National ...
FINANCIAL SERVICES:
Draft norms for money changers
Mumbai, Sept. 26 The Reserve Bank of India on Friday announced draft guidelines for licensing and other approvals for full-fledged money changers (FFMCs) to improve access to foreign exchange facilities by residents and tourists and to ...
SOCIAL SECURITY:
New pension plan may be extended to unorganised sector
Mumbai, Sept. 26 The Pension Fund Regulatory and Development Authority (PFRDA) will seek the help of an institutional advisor to extend the New Pension Scheme (NPS) to the unorganised sector, said Mr N.K. Rayalu, Chief Executive Officer, ...
FINANCIAL SERVICES:
JP Morgan keen on India, says CEO
Bangalore, Sept. 26 India and China are key countries for financial services major JP Morgan Chase & Co and the bank would continue its growth thrust in India with a PE investment of around $800 million to $1 billion in the next two ...
PRIVATE BANKS:
ING Vysya Bank plans 56 more branches
Hyderabad, Sept. 26 ING Vysya Bank will be adding 56 new branches to its existing 400 branches across the country before the end of this ...
FOREX:
Currency futures trading on BSE from Oct 1
The Bombay Stock Exchange will kick start currency futures trade from ...
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