MONEY & BANKING
Role of government in regulating financial markets
GLOBAL financial markers are currently perceived to be in crisis. Debate over regulatory reform in the financial sector has, consequently, assumed national prominence. Institutionalists have traditionally argued for ...
Rupee up 8 paise; gilts decline
MUMBAI: The rupee rose steadily by eight paise for the second consecutive trading day. The rupee followed other Asian currencies and appreciated against the dollar to end today's trading session at 45.0875. "The Reserve Bank of India ...
Good demand for real estate HDFC mulls entity to buy, lease properties
HOUSING Development Finance Corporation (HDFC) is considering a proposal to set up a separate entity to acquire properties and lease them to large Indian corporates and multinational companies. According to Mr Deepak Parekh, HDFC Chairman, ...
SBI plans big push to rural housing
While the bulk of the housing loans business for the bank still comes from urban and metro areas, in the recent past increasing competition in the metros has led SBI to leverage its presence in the semi-urban areas.
LIC covers 2 crore lives
LIFE Insurance Corporation (LIC) has extended insurance protection to two crore individuals in the current fiscal up to March 15. The corporation has underwritten 2.05 crore policies with an assured sum of Rs 1,48,284.88 crore and first ...
Union Bank in bancassurance pact with ECGC
UNION Bank of India has entered into a bancassurance tie-up with the Export Credit Guarantee Corporation Ltd (ECGC) for marketing the latter's export credit insurance products. Mr V. Leeladhar, Chairman and Managing Director, Union Bank of ...
PUBLIC SECTOR BANKS
SBT loan scheme for small traders
THE State Bank of Travancore (SBT) is launching a new loan scheme to provide credit to small traders at competitive pricing. The "traders special" scheme is being floated in association with the "Vyapari Vyavasayi Ekopana Samithi" and local ...
Syndicate Bank to collect tax
HSBC products for overseas investments
THE Government's decision to allow resident Indians to set aside annually up to $ 25,000 abroad for investment purposes has prompted HSBC to introduce specific choices, based on such fundamental themes as protection and appreciation of capital. ...
ABN-Amro to tap NRIs in S. E. Asia
ABN-Amro Bank is to offer India-based, investment options among other specialised banking services to non-resident Indians in Singapore and in other South East Asian countries through its offering `World Citizen Banking.' The bank plans to tap ...
APSFC eligible for accepting Govt deposits
ANDHRA Pradesh State Financial Corporation (APSFC) can now accept deposits from all the departments of Secretariat, Heads of Departments and State Government/Quasi Government undertakings, Government institutions and financing corporations. In ...
MERGERS & ACQUISITIONS
Vijaya Bank eyes NBFCs for acquisition
UNABLE to find a suitable bank for acquisition, the public sector Vijaya Bank (Vijbank) has now begun stalking non-banking finance companies (NBFC). Top banking officials said the bank was eyeing NBFCs with a minimum asset size close to Rs 800 ...
SBI plans to launch mobile ATMs soon
WHAT'S next on the State Bank of India's agenda? Mobile ATMs. The concept has been drawn out and is in the process of being launched, tapping few segments in the initial stages, Mr Ramesh Kumar, Chief General Manager, State Bank of India, Mumbai ...
`Benefits of IT must reach the villages'
CUSTOMERS of rural India must get the benefit through tailor-made technology solutions with different level of sophistication, Mr Vepa Kamesam, former Deputy Governor of RBI, has said. "They need a human face to interact with banks and back ...
Thanks to HDFC Bank, co-ops can trade on CCIL platform
HDFC Bank has announced that it has entered into an alliance with Clearing Corporation of India Ltd (CCIL). The tie-up offers the latter's collateral borrowing and lending obligation (CBLO) product to cooperative banks that are not direct ...
Cross Currency Rates
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