MONEY & BANKING
ECONOMIC SURVEY
No matching fall in lending rates: Survey
The survey has pointed out that the pace of reduction in lending rates has not matched the decline in the deposit rates.
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Govt in the loop on bank holding norms?
WILL the Union Budget lift the 10 per cent cap on voting rights in banks imposed by the Banking Regulation Act? The 2003-04 Budget presented by Mr Jaswant Singh did promise scrapping the restriction. "The voting rights of any person holding ...
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Pointers to Budget proposals — Independent pension regulator likely
GOING by the feelers sent out by the Economic Survey, the proposed Pension Fund Regulatory and Development Authority (PFRDA) would remain a separate entity regulating the country's pension sector in the days to come. Stating that the PFRDA ...
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FARM CREDIT
Dena Bank's rural thrust
MUMBAI: In an endeavour to enhance credit to the farm sector, Dena Bank has identified ``100 thrust'' branches in the rural areas and plans to hire 100 agriculture officers shortly. In Gujarat, where Dena Bank heads the State-level banks' ...
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INSIGHT
Norms on ownership, governance of private banks — Why this paradigm shift?
THE GUIDELINES that the Reserve Bank of India has circulated on ownership and governance of private banks have already attracted considerable comment. While presenting the Budget for 2003-04, the then finance minister ...
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FOREX
Rupee recovers; gilts decline
MUMBAI: The domestic currency closed around 20 paise stronger at Rs 45.8450/8600 on Wednesday as against its previous close of Rs 46.0450/0550 on the back of good dollar inflows and underlying positive sentiment on the eve of the Union ...
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NBFCS
Plea against invoking Central Chit Fund Act
THE Rs 15,000-crore organised chit fund industry in the State has asked the Government not to bring in the Central Chit Fund Act that might prove detrimental to the industry. Expressing concern over the move to implement the Act, the ...
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LIFE INSURANCE
SBH launches new scheme
HYDERABAD: The State Bank of Hyderabad (SBH) has launched "SBI Group-lifelong pension cum-life insurance cover to kisan credit card holders." The minimum yearly contribution is Rs 2000 and the scheme for the aged offers pension facility ...
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DEBT MARKET
Debt markets look to borrowing agenda
The markets — set on a bearish note particularly after the Economic Survey presented by the Finance Minister on Wednesday — fear an increased market borrowing programme, a hike in small savings rates and a remote possibility of the ...
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HUMAN RESOURCES
Public insurers put on hold promotions
THE four public sector general insurance companies have put on hold promotions of all their middle management cadre. The decision follows a suggestion by the Union Ministry of Finance. Sources said the Ministry had suggested to the four general ...
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PRIVATE BANKS
`Draft norms on crossholdings may hit hard bank stocks'
`If overnight large chunks of these cross holdings of equity are forcibly off-loaded into the markets, the prices of these scrips would plunge dramatically'.
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MERGERS & ACQUISITIONS
ALFIN outlets to be branches of IndusInd Bank
HAVING completed the process of integrating Ashok Leyland Finance Ltd (ALFIN) with itself, IndusInd Bank has decided to convert 132 outlets of the erstwhile ALFIN into bank branches across the country over the next 12-18 months. Announcing this ...
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TRADE & LABOUR UNIONS
Bank wage talks make little headway
THOUGH the bank unions were confident of straightening out the wage issue by mid-July, the talks between IBA and the representatives of the officers' organisations have not made much headway. The talks were resumed after a gap of two months on ...
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Cross Currency Rates
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