MONEY & BANKING
REGIONAL RURAL BANKS
RRB women staff meet today
The first national-level convention of women staff in regional rural banks (RRBs) is being organised by the All-India Regional Rural Bank Employees Association (AIRRBEA). The AIRRBEA Secretary, Mr S. Venkateswar Reddy, said the two-day ...
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FOREX
More exporters take options route to hedge
FACED with the rupee's appreciation against the dollar, exporters are increasingly beginning to take to options as a hedging tool. Banking sources said initially, only large corporates, such as Reliance and Larsen & Toubro, took to these kinds ..
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Rupee higher; bonds decline
MUMBAI: Overcoming mild month-end pressures, the rupee ended a shade higher against the US currency on Friday, helped by a steady stream of trade and investment inflows in yet another session of extremely thin and listless trade at the forex ...
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HOUSING FINANCE
BoB to reduce floating home loan rates
EFFECTIVE March 1, Bank of Baroda (BoB) has decided to reduce the rate of interest on housing loans to individuals under floating rate option. According to an official statement, the reduced rate structure (with monthly rests) for floating rate ...
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CONSUMER FINANCE
ICICI Bank to buy out Tata Finance's 2-wheeler portfolio
THE largest two-wheeler financier in the market just got bigger. ICICI Bank has signed an in-principle agreement to purchase the entire Rs 350-crore, two-wheeler portfolio of Tata Finance Ltd. Currently, auditors have been appointed to carry ...
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LIFE INSURANCE
Birla Sun Life hikes capital by Rs 40 cr
BIRLA Sun Life Insurance today announced that it has augmented its paid-up capital by Rs 40 crore to Rs 290 crore, the second infusion in the last few weeks. The joint venture partners, the Aditya Birla Group and Sun Life Financial Inc, have ...
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PRIVATE BANKS
Tayals to raise stake in Bank of Rajasthan
THE Tayals, main shareholders of Bank of Rajasthan, have decided to increase their stake in the bank, chiefly through the creeping acquisition route. They now hold about 45 per cent of the bank's equity base, having secured 2 per cent in the ...
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PUBLIC SECTOR BANKS
SBT package for BSNL staff
FOREIGN BANKS
United Western raises Rs 55 cr through bonds
UNITED Western Bank Ltd today said that it has successfully raised Rs 55 crore through a private placement issue of unsecured redeemable non-convertible subordinated bonds. The issue size at Rs 55 crore was inclusive of a greenshoe option of Rs ...
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FINANCIAL INSTITUTIONS
ADB to lend bond proceeds to core sector projects
"We are open to enter the Indian debt market again as and when we find it required," said Mr Liqun Jin, Vice-President, ADB.
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GOVT BONDS
IRFC mops up Rs 2,000 crore
While the cost of funds for IRFC during 2003-04 stood at about 6 per cent, it was 7 per cent in the previous year and above 8 per cent in 2001-02.
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MERGERS & ACQUISITIONS
HSBC awaiting RBI nod to buy UTI Bank stake
HONGKONG and Shanghai Banking Corporation (HSBC) expects the Reserve Bank of India's approval to purchase the 20.08 per cent stake in UTI Bank to come through in a couple of weeks. "We are awaiting DBoD's (Department of Banking Operations & ...
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CO-OPERATIVES
Kanakamahalakshmi co-op bank cuts gold loan rates
Cross Currency Rates
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