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MONEY & BANKING
PUBLIC SECTOR BANKS:
SBI sees surge in New Pension Scheme collections
95% of total mop-up came in the last one week. SBI Pension Fund appears to have raced ahead of its competitors, collecting over Rs 25 lakh under the new ...
CONSULTING:
KPMG to study viability of starting TPA network
PSU general insurers favour in-house set-up. Kolkata, June 9 The four public sector general insurance companies have moved a step closer to their goal of jointly launching a third party administration service ...
TECHNICAL ANALYSIS:
Rupee to move in a range
Rupee could not rally emphatically above the 47 mark against the dollar as ambling equity markets and strength in US dollar impeded its progress. Intervention by the RBI in forex markets around the 47 level was also partially responsible ...
INSIGHT:
Will low interest rates mean reduced costs for firms?
The policy response to the global recession has been to ensure adequate liquidity in the system to encourage bank lending to productive activities. The Fed funds rates, the repo rates and other rates for lending as last resort are almost zero in ...
INSIGHT:
Test the quality of govt spending
With 5.3 per cent growth in the latest released data, India seems to have weathered the global financial and economic storm pretty successfully. Concurrent indicators are also positive — direct tax collections are up (if modestly ...
VENTURE CAPITAL:
Axis PE, IL&FS investment
Axis Private Equity and IL&FS Financial Services Ltd on Tuesday announced an investment of Rs 90 crore ($18 million) in Shalivahana Green Energy Ltd. While Axis PE has invested Rs 54 crore, IL&FS Financial Services will invest Rs 36 ...
GOVT BONDS:
Bonds fall in range-bound market
Bond prices fell on Tuesday in a range-bound market. The markets traded in a range of 20-30 paise, said a dealer with a private bank.There are no triggers for a rally in the market. Auctions and rising US bond yields are exerting pressure on ...
TRADE & LABOUR UNIONS:
Unions defer strike plan after IBA softens stance
New Delhi, June 9 Bank unions have deferred their strike call for June 12 after the Indian Banks’ Association (IBA) dropped certain pre-conditions and expressed willingness to improve its offer on the wage ...
LIFE INSURANCE:
Sanlam open to hiking stake in Shriram Life
New Delhi, June 9 South African financial services firm Sanlam has said it is open to increasing its stake in Shriram Life Insurance, a joint venture with the Shriram Group. At present, the Sanlam Group holds 26 per cent stake in the ...
INTEREST RATES:
Pranab may discuss rate cut with PSU bank chiefs today
New Delhi, June 9 The Finance Minister, Mr Pranab Mukherjee, will meet chief executives of public sector banks (PSBs) here on ...
CREDIT RATING:
Mayajaal IPO gets least grade from CARE
Chennai, June 9 Rating agency CARE has assigned the initial public offering of Mayajaal Entertainment the least grade (Grade 1), which indicates ...
EVENTS:
Sound risk management helped Indian banks during financial crisis: Expert
Kolkata, June 9 The sound risk management practices adopted by the Indian banking system has helped them avoid some of the problems faced by their Western counterparts during the recent financial crisis, said Mr Steve Lindo, Executive ...
PUBLIC SECTOR BANKS:
SBI to open 129 branches in AP
Visakhapatnam, May 9 The State Bank of India is planning to set up 129 branches in Andhra Pradesh during the current financial year, in addition to the existing 1,000, and 18 of the branches will be in the Visakhapatnam zone, according to ...
ALLIANCES & JOINT VENTURES:
YES Bank ties up with Finnish co for clean tech
Mumbai, June 9 Private sector YES Bank has tied up with Finnish company Lahiti Science and Business Park (LSBP) to provide funding and advisory services for companies investing in clean ...
FOREX:
Rupee gains tracking equities
Mumbai, June 9 The rupee gained slightly in a market that saw good selling and buying movement. The domestic currency traced the domestic equities market. It opened at 47.60/65 and closed at 47.48, against the previous close of ...
SHORT TERM INSTRUMENTS:
Call rate unchanged
Mumbai, June 9 The inter-bank call rate closed at 3.2-3.3 per cent, unchanged from the previous ...
EVENTS:
Workshop for bankers
KOCHI: A week-long workshop organised by Federal Bank in association with FEDAI and RBI has begun at Hotel Presidency, Ernakulam. The workshop aims to inculcate operational knowledge among bankers on forex regulations ...
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