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Banks turn back to recurring deposits (08 November 12:00) |
| Mumbai, Nov. 7 Even as top bankers are making noises about the need for increasing low-cost current and savings account (CASA) deposits, they are quietly getting their branches to step on th... |
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IRDA working group on Annuity (08 November 12:00) |
| The Insurance Regulatory and Development Authority (IRDA) has constituted a working group to examine the current status of annuity products and to come out with recommendations to strengthen... |
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SBI cuts deposit rates on slow credit liquidity glut (07 November 12:00) |
| State Bank of India has snipped interest rates by 25-50 basis points on deposits up to five years duration. |
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34 million apply for 11000 clerical vacancies in SBI! (07 November 12:00) |
| Chennai, Nov. 6 Clerical jobs, you may think, are out of fashion. Think again. State Bank of India advertised a few months ago for 11,000 clerical vacancies. The response, to put it mildly,... |
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Asset bubbles to exit recessions (07 November 12:00) |
| In its last several meetings, the Federal Open Market Committee (FOMC), the US interest rate and monetary policy setter, hasn’t had much thinking to do. Its decision was obvious — to kee... |
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SBI told to stop buyouts within group (07 November 12:00) |
| State Bank of India has been told by the Government to refrain from going in for further acquisitions of associate banks within the SBI Group. |
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Govt staff pension funds to hike equity investments by this fiscal (07 November 12:00) |
| Mumbai, Nov. 6 Pension funds managing the New Pension Scheme (NPS) for Government employees will conform to new investment guidelines by the end of this fiscal, said fund managers. |
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Sibal moots corporation to fund education (07 November 12:00) |
| New Delhi, Nov. 6 The Union Ministry of Human Resource Development has mooted the idea of setting up a national education finance corporation (NEFC) to raise resources for primary and highe... |
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Re up tracking Asian currencies (07 November 12:00) |
| The rupee gained by 21 paise against the dollar on Friday tracking the gains of other Asian currencies against the greenback. The domestic currency opened at 46.83 and strengthened to touch ... |
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PNB to cut term deposit rates (07 November 12:00) |
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S Tel gets Rs 953-cr funding from 8 banks (07 November 12:00) |
| New Delhi, Nov. 6 S Tel Pvt Ltd, one of the new entrants in the Indian GSM space, has announced that it has accomplished financial closure of its project with Rs 2,000-crore outlay. Eight m... |
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Swarup panel proposals not well-founded (07 November 12:00) |
| Hyderabad, Nov. 6 The Swarup Committee recommendations pertaining to the insurance sector are not “well-founded”, according to Mr J. Hari Narayan, Chairman, Insurance Regulatory and Deve... |
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Forex reserves fall $11 billion (07 November 12:00) |
| Mumbai, Nov. 6 Foreign exchange reserves fell $1.129 billion to $284.391 billion for the week ended October 30, according to the Reserve Bank of India’s weekly statistical |
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StanChart IDR issue not till March 2010 (07 November 12:00) |
| Mumbai, Nov. 6 Standard Chartered Bank may wait till March 2010 to launch its proposed issue of Indian Depository Receipts |
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Mastercard volumes up 49 in India (07 November 12:00) |
| Mastercard announced on Thursday that it has recorded a 49 per cent rise in its gross dollar volume (GDV) for India in the third quarter of 2009, as compared to a similar period last |
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New insurance scheme for HIV-affected (07 November 12:00) |
| Visakhapatnam, Nov 6 Population Services International (PSI), an NGO, in association with Star Health and Allied Insurance Company and the Greater Visakhapatnam Municipal Corporation (GVMC),... |
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HSBC buys 42 lakh LT shares from Citigroup (07 November 12:00) |
| Mumbai, Nov. 6 Over 42 lakh shares of Larsen and Toubro, worth about Rs 659 crore, changed hands in bulk transactions reported on the BSE on Friday, at Rs 1,566.50 a |
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CD rates likely to plunge as credit growth remains low (06 November 12:00) |
| Bangalore, Nov. 5 With loan growth remaining weak, costs of certificate of deposits (CDs) funds are expected to nose |
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Aegon Religare unveils iTerm (06 November 12:00) |
| Aegon Religare Life Insurance launched iTerm, a new term-plan that will be sold exclusively online. “It is the cheapest term plan currently available in the market, making it the most attr... |
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Corpn Banks loan syndication cell (06 November 12:00) |
| Corporation Bank has opened its first loan syndication cell in Mumbai to shore up its fee-based income. The cell was inaugurated by Mr J.M. Garg, Chairman and MD of the bank. The bank is loo... |
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Andhra Bank may delay selling own insurance products (06 November 12:00) |
| Hyderabad, Nov. 5 Andhra Bank may go slow on selling the products of its insurance joint venture with Legal & General and Bank of Baroda due to its tie-up with Life Insurance Corporation of ... |
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Rupee must be allowed to appreciate HSBC (06 November 12:00) |
| Mumbai, Nov. 5 India should allow its currency to appreciate in order to prevent an asset bubble in the face of continued foreign exchange inflows, according to Mr David Bloom, Global Head o... |
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Honda Cars ties up with insurance cos (06 November 12:00) |
| New Delhi, Nov. 5 Honda Siel Cars India (HSCI) announced on Thursday the launch of ‘Honda Assure’, an insurance tie-up with various general insurance companies. |
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Pay thru mobile (06 November 12:00) |
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Corporation Bank sees 50 rise in non-interest income (06 November 12:00) |
| Mumbai, Nov. 5 Corporation Bank is eyeing a 50 per cent jump in non-interest income in FY10 on the back of recently launched products and services such as supply chain management financing, ... |
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MRPL mandates SBI Caps to raise Rs 5000 cr to fund projects (06 November 12:00) |
| Chennai, Nov. 5 Mangalore Refineries and Petrochemicals Ltd has mandated SBI Capital Markets Ltd to raise Rs 5,000 crore for its refinery expansion and petrochemical projects, MRPL’s Manag... |
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Bharti AXA to infuse Rs 415 cr (06 November 12:00) |
| Mumbai, Nov. 5 Bharti AXA General Insurance, a joint venture between Bharti Enterprises and AXA, will infuse Rs 415 crore additional capital in the next five years to fuel its expansion plan... |
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New premium likely to see less equity exposure (05 November 12:00) |
| Kolkata, Nov. 4 From next fiscal, some life insurance companies are likely to cut down their stock market investments by 10 to 15 per cent in respect of new businesses. |
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Banks profit growth moderates in Sept quarter (05 November 12:00) |
| After growing at a frenetic pace last quarter, banks have struggled to do an encore in the September quarter, as lending slowed, margins fell, and provisions rose. Advances of banks grew at ... |
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Spate of calamities may compel insurers to hike premiums (05 November 12:00) |
| Banglore, Nov. 4 Faced with mounting losses from calamities, domestic insurers are poised to reverse all the large discounts of the last two years and hike |
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City Union Bank net rises 215 (05 November 12:00) |
| City Union Bank has reported a 21.51 per cent increase in net profit to Rs 45.85 crore for the quarter ended September 2009, against Rs 37.65 crore during the corresponding quarter of the ea... |
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Nabard trims rates on refinance (05 November 12:00) |
| The National Bank for Agriculture and Rural Development has reduced interest rates on refinance for investment credit for lending made by rural financial institutions by 50 basis points. The... |
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Indian Bank opens branches (05 November 12:00) |
| Indian Bank opened branches at Pumpwell and Bejai-Kapikad in Mangalore on Wednesday. A press release said here that these are 1,676th and 1,677th branches of the bank in the country. Mr A.S.... |
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State Bank of Hyderabad bags award (05 November 12:00) |
| State Bank of Hyderabad has bagged ‘State Best Banker’s Award’ for outstanding performance in Micro and Small Enterprises Development 2007-08. Ms Renu Challu, Managing Director, SBH, h... |
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Manappuram GFL cuts lending rate (05 November 12:00) |
| Manappuram General Finance and Leasing Co Ltd has reduced its prime lending rate from 17 per cent to 12 per cent, the company said in a press release. The gold loan company is passing on its... |
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Credit Policy Keeping vigil on inflation trends (05 November 12:00) |
| The mid-term Credit Policy meeting of the RBI saw the central bank keep the reverse repo rate and the repo rate unchanged, at 3.25 per cent and 4.75 per cent respectively. The statutory liqu... |
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Simplified loan forms for micro small units seeking up to Rs 1 cr (05 November 12:00) |
| Mumbai, Nov. 4 In a bid to boost credit appetite in the economy, the Reserve Bank of India is considering extending the scope of the simplified, standardised loan application form to encompa... |
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Busy season off to dull start on credit disbursal (05 November 12:00) |
| Despite being the beginning of the ‘busy season’, the Reserve Bank of India’s latest statement of position of commercial banks shows that outstanding bank credit in the fortnight ended... |
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BoI plans 10 branches in AP (05 November 12:00) |
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Survey on non-profit institutions (05 November 12:00) |
| The State Government is conducting a survey on the accounts and finances of non-profit institutions registered in the Sate. An official release said that the survey was being conducted as pa... |
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Co-ops offer higher interest rate (05 November 12:00) |
| The State Government has announced a 0.5 basis point hike in interest rates on new fixed deposits with primary cooperative societies and cooperative banks in the State from November 1 to 30,... |
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RBI buys 200 tonnes of gold from IMF (04 November 12:00) |
| The Reserve Bank of India has purchased 200 tonnes of gold valued at Rs 31,490 crore ($6.7 billion) from the International Monetary Fund (IMF) under the latters’s limited gold sales |
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SBI to review special home loan scheme on Nov 5 (04 November 12:00) |
| Kolkata, Nov. 3 State Bank of India will take a call on whether or not to continue with its special home loan (SBI My Home Campaign) scheme at a meeting on November 5, according to its Chief... |
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Monetary policy and fiscal consolidation (04 November 12:00) |
| The jury is out on whether the Reserve Bank of India got its inflation-growth balance right in its busy season review of Monetary Policy. However, there can be no denying that at least in th... |
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Banks may park excess funds in short-term debt instruments (04 November 12:00) |
| Mumbai, Nov. 3 Banks are expected to step up investment of their surplus funds in short-term debt instruments such as commercial papers, treasury bills, and government securities with one-t... |
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Purchase of gold will help RBI diversify forex reserves (04 November 12:00) |
| Mumbai, Nov. 3 The Reserve Bank of India’s decision to purchase 200 tonnes of gold from IMF is seen as an effort on the central bank’s part to diversify its forex reserves holdings and r... |
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Minimum face value of short-term NCDs should be Rs 5 lakh RBI (04 November 12:00) |
| Mumbai, Nov. 3 The minimum face value of short-term (less than one-year maturity) non-convertible debentures (NCDs) should be Rs 5 lakh with a maturity of at least 90 days, according to the ... |
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Kores unveils fake currency detector (04 November 12:00) |
| Mumbai, Nov. 3 In an attempt to thwart counterfeit notes from inadvertently being accepted by commercial institutions, Kores India launched a unique counterfeit currency detector on Tuesday.... |
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IFC to help AP upgrade diagnostic services (04 November 12:00) |
| Hyderabad, Nov. 3 International Finance Corporation (IFC) will help the Andhra Pradesh Government to upgrade diagnostic services in three public sector hospitals with the help of the private... |
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SBI Life posts Rs 116-cr profit in H1 (04 November 12:00) |
| Mumbai, Nov. 3 SBI Life Insurance has posted a profit of Rs 116 crore in the first half of this fiscal ended September, against a loss of Rs 47 crore in the year-ago |
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