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MONEY & BANKING
CRR & BANK RATES:
Repo in corporate bonds likely in 2010
No plan to hike FII limit in corporate bonds. Corporate bonds are likely to become ‘repo-able’ in 2010, more than five years after this reform proposal was mooted, a top Finance Ministry official said here ...
LIFE INSURANCE:
Life insurers may have to make provisioning for lapsed policies
A system similar to that in banks will protect policyholders’ interests: IRDA chief. Hyderabad, Nov. 11 Life insurance companies may have to earmark certain provisions for policy lapsation ...
FINANCIAL SERVICES:
Nokia keen on mobile money transfer services in India
Helsinki, Nov. 11 Nokia expects to be able to launch ‘Nokia Money’, its mobile payment service, in India, no sooner than the banks it is talking to for a partnership get approval from the Reserve Bank ...
CONSUMER FINANCE:
Mahindra co, Syndicate Bank tie up to offer pre-owned car loans at 9%
Thiruvananthapuram, Nov. 11 Mahindra FirstChoice Wheels, a multi-brand pre-owned car company from Mahindra and Mahindra, has tied up with Syndicate Bank to provide finance at an ‘industry-first’ 9 per ...
GENERAL INSURANCE:
Transaction risk cover in demand: Marsh India
Marsh, a global insurance solutions provider, is witnessing an increasing demand from its Indian corporate and private equity clients for ‘Reps and Warranties Insurance’ and ‘Tax opinion liability insurance’, according ...
TRADE & LABOUR UNIONS:
Bank employees to go on strike on Dec 16
New Delhi, Nov. 11 As many as four lakh officers and employees from the banking industry are to strike work on December 16 to protest against the proposed merger of State Bank of Indore with State Bank of India and other consolidation ...
PRIVATE BANKS:
ICICI Bank to be SMX’s clearing bank
Mumbai, Nov. 11 ICICI Bank has entered into an agreement with Singapore Mercantile Exchange (SMX) to be a clearing and settlement banking member of the ...
FIXED DEPOSITS:
IDBI Bank trims deposit rates
Mumbai: IDBI Bank has reduced deposit rates by 25-50 basis points across various maturities with effect from November 16, the bank said in a press release. For a deposit of one-two year tenor, the bank will pay an interest of ...
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