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MONEY & BANKING
FOREX:
Rupee crosses 50-level on arbitrage, weak stock market
Mumbai, Nov. 19 The rupee again crossed the psychologically important level of 50, pulled down by negative sentiments in the equities market and on NDF (non-deliverable ...
OVERSEAS BORROWINGS:
Tough to raise funds abroad, say housing finance cos
‘RBI norms restrictive; lenders lack liquidity, wary of home loans’. Mumbai, Nov. 19 Housing Finance Companies (HFCs) may well nigh find it impossible to raise short- term foreign currency borrowings at the Reserve Bank of India ...
FOREX:
Naturally edgy
Reliance Industries Ltd (RIL) perhaps would be one of the few Indian enterprises that would not mind India’s foreign currency transactions being predominantly designated in dollars because the debt service obligations emanating out of ...
FOREX:
India’s holdings of US Treasury on the rise
Bangalore, Nov. 19 India’s holdings of US Government securities increased by $3.4 billion in September this year, on a year-on-year basis, despite the dip in foreign ...
GOVT BONDS:
Bond prices continue rally
Bond prices rose for the second consecutive day on Wednesday, gaining by 40 paise. The prices rallied in the first half of trade with yields touching a low of 7.74 per cent on expectations of a rate cut by the Reserve Bank of India, said a ...
SHORT TERM INSTRUMENTS:
Call rate closes lower
Inter-bank call rate closed lower at 6.40-6.50 per cent, as against the previous close of 6.50-6.75 per cent. In the one-day repo auction under the first LAF, the RBI received and accepted 1 bid for Rs 2,000 crore. In the one-day reverse ...
TRADE & LABOUR UNIONS:
RBI staff stir on Dec 1, 2
The employees of Reserve Bank of India all over the country will go on a two-day strike on December 1 and 2, to protest against the cut in pension of retired employees. The reduction is believed to have been effected at the behest of ...
FIXED DEPOSITS:
FCNR, NRE rates hiked
Andhra Bank has revised upwards the rates of interest on NRE term deposits for different maturity periods. The new interest rate for a deposit of one year and above and less than two years would, in percentage terms, be 4.92 (4.17); over two ...
CO-OPERATIVES:
Repco Bank scheme for seniors
Repco Bank (Repatriates’ Co-operative Bank), coinciding with the celebration of its 40th Foundation Day, has introduced a special deposit scheme ‘REPCO 40’. The scheme offers an interest rate of 12 per cent for senior citizens ...
INTERVIEW:
Oriental Insurance trims underwriting losses
’Detariffing has resulted in premium cuts, lower profitability’. Chennai, Nov. 19 Oriental Insurance is the only public insurer to have reduced its underwriting losses to Rs 670 crore in 2007-08 when other public players’ ...
PUBLIC SECTOR BANKS:
IOB to support infrastructure projects
Indian Overseas Bank (IOB) is focused on supporting infrastructure projects, including real estate, as it will help generate income in these times of ...
FIXED DEPOSITS:
DBS hikes rates on deposits
Chennai, Nov. 19 DBS Bank has announced that it has hiked its interest rates for domestic and Non-Resident Ordinary (NRO) fixed deposits. Now, it will offer its customers an interest rate of 11.25 per cent on fixed deposits and senior ...
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