MONEY & BANKING
INSIGHT
Rupee appreciation might benefit
THE management guru, Peter Drucker, is the latest in a long line of foreign investors (like Marc Faber and Mark Mobius), fund managers and investment banks to fall in love with India. He thinks the country will become an economic powerhouse ...
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FOREX
Dollar's descent worries financial, commodity markets
THERE is eerie nervousness in financial and commodity markets with no end in sight for dollar's descent, as the euro and pound sterling take the strain and both have soared to a new high against the dollar. The pound has risen by $1.80 ...
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Rupee stable; securities fall
MUMBAI: The rupee on Tuesday closed at 45.6200/6250 comparable to Monday's close of 45.62/63 in its value against the dollar despite strengthening of major international currencies against the dollar. The domestic unit, however, did not ...
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NBFCS
RBI issues customer guidelines for NBFCs
THE Reserve Bank of India on Tuesday issued ``know your customer (KYC)'' guidelines for non-banking financial companies (NBFCs), similar to those existing for commercial banks. The `Know Your Customer' framework is meant to work with two ...
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CONSUMER FINANCE
Toyota Kirloskar signs pact with Corpn Bank
TOYOTA Kirloskar Motor Private Ltd in its bid to penetrate into rural and semi-urban markets, has entered into an agreement with Corporation Bank for financing their vehicles. After exchanging a copy of memorandum of understanding with the ...
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GENERAL INSURANCE
Concern for rural markets forces restrictive VRS
Industry sources said that if development officers were also included, the social sector interventions by the Government would be impacted adversely, especially rural insurance covers.
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PRIVATE BANKS
ICICI Bank to go slow on branch expansion
"We will have no `step' increases in our branch network but only gradual ones,'' said Mr K.V. Kamath, Managing Director & CEO, ICICI Bank. The bank believes in the multi-channel approach to the customer. At present, ICICI Bank with a customer ...
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PUBLIC SECTOR BANKS
Corpn Bank to sell DSP Merrill MF products
CORPORATION Bank has signed an agreement with DSP Merrill Lynch Mutual Fund to distribute mutual fund products of the latter as a part of the bank's strategy to increase the bouquet of products being offered to its clients and to earn fee-based ...
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Bank of India tier-II bonds for Rs 350 cr
BANK of India (BoI) has become the fourth bank to float a tier-II bond issue in the last one week. The bank is on the verge of closing the Rs 350-crore issue at a coupon rate of about 5.88 per cent and tenor of 10 years. The bank aims to ...
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CREDIT MARKET
Banks pledge to cooperate with Kerala Govt initiatives
THE Chairman and Managing Director of Canara Bank, Mr R.V. Shastri, has said banks in the State would wholeheartedly co-operate with the recent policy initiatives of the State Government to improve the investment climate in the State. He said ...
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CO-OPERATIVES
TN: Package on the anvil to shore up co-op banks
THE Tamil Nadu Government is planning a support package for co-operative banks and will restructure them to bring down cost of funds. Addressing the State-level credit seminar organised by the National Bank for Agriculture and Rural Development ...
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PEOPLE
Centurion Bank appoints Shailendra Bhandari as CEO
CENTURION Bank on Tuesday announced the appointment of Mr Shailendra Bhandari as the CEO, following the Reserve Bank of India approval. Mr Bhandari, earlier CEO of Prudential-ICICI AMC Ltd, is expected to join the bank by the end of ...
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Cross Currency Rates
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