MONEY & BANKING
PENSION PLANS
Govt may allow nine pension fund managers
While eight PFMs would be licensed from the private sector, the remaining slot will be filled up by a public sector entity.
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FOREX
Rupee strengthens; securities down
MUMBAI: The rupee closed marginally stronger on Monday ending at 45.42 to the dollar, as against Friday's closing level of 45.4450/4550. Dealers said, the market continues to be flushed with supplies, and the domestic currency is ...
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STOCKS
PNB up 7.4% on IFCI acquisition hopes
"With their strong positions in the North, a merger is very much possible."
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HOUSING FINANCE
NHB set to buy back VHFL stake at par
NATIONAL Housing Bank plans to buy back its five per cent stake in Vibank Housing Finance Ltd. at par, top sources of Vijaya Bank said. Vibank Housing, a subsidiary of Vijaya Bank, is likely to be merged with the bank before March-end, sources ...
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LIFE INSURANCE
LIC new biz at over Rs 1 lakh crore
LIFE Insurance Corporation of India has recorded new business in excess of Rs 1 lakh crore for the third quarter ended December 31,2003. During the period, April - December, the insurer earned a first premium income of Rs 3,967.78 crore on the ...
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GENERAL INSURANCE
Premium accretions of non-life insurers to top Rs 15,000 cr
PREMIUM accretions of all the non-life insurance companies, both public and private sector, are expected to top Rs 15,000 crore this year. Already during the first eight months (April to November) of the current year, premium accretions have ...
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Tata AIG launches policy for Indian emigrants
IN response to Government of India's initiative for emigrant Indians under the Pravasi Bharatiya Bima Yojana scheme, 2003, covering risks associated with working overseas, Tata AIG General Insurance Company Limited has launched a "Travel Guard ...
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PUBLIC SECTOR BANKS
Vijaya Bank vends Principal group's MF products
State-owned Vijaya Bank launched the distribution of Principal Group's mutual funds from its branches. The move follows the tripartite partnership between Punjab National Bank, Vijaya Bank and the Principal Financial Group to float an asset ...
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Syndicate Bank clarification
FOREIGN BANKS
Deutsche may expand India operations
Unwilling to say much on the bank's operations within the country, its Managing Director, Mr Ashok T. Aram, told this correspondent that a lot of work was being sourced out of Bangalore. Stating that the bank had already established its ...
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GOVT BONDS
Maharashtra bond auction
NON-PERFORMING ASSETS
5 pc exposure cap — Banks seek waiver of debt-converted equity
BANKS have sought exemption of `debt-converted equity' under the Corporate Debt Restructuring (CDR) scheme from their equity exposure limit of five per cent. The core group of the CDR arrangement has submitted a recommendation to the Reserve ...
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TRENDS
Retired bank staff plea
Cross Currency Rates
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