MONEY & BANKING
FINANCIAL SERVICES
Insurance brokers to meet in Hyderabad
MEMBERS of Insurance Brokers Association of India (IBAI) are meeting here on Saturday to discuss the survival of insurance brokers as an alternative distribution channel. The two-day meet would discuss on how to take forward the ...
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FOREX
Rupee closes 10 paise down
MUMBAI: `Genuine' corporate demand for the greenback drove the domestic currency to close weaker by ten paise on Wednesday at 46.31/32 per dollar. The rupee had ended at 46.21/22 in the previous trading session. The rupee's lowest ...
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FINANCIAL PERFORMANCE
PNB first-quarter net up 28 pc
PUNJAB National Bank has declared a net profit Rs 322.67 crore for the first quarter ended June 30, 2004, against Rs 251.76 crore in the corresponding period last year, a growth of 28.2 per cent. Its operating profit touched Rs 800.99 crore, ...
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OBC net rises 27 pc
ORIENTAL Bank of Commerce has recorded a net profit of Rs 181 crore for the quarter ended June 30, 2004, a 27 per cent rise over the net of Rs 142 crore in the corresponding period in the previous year. The total business of the bank has risen ...
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IndusInd Bank net at Rs 45 cr
INDUSIND Bank has recorded a net profit of Rs 45.48 crore in the first quarter ended June 30, 2004 against a net profit of Rs 24.64 crore in the corresponding period the previous year. The current results of the bank include the financial ...
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LIFE INSURANCE
AMP Sanmar launches unit-linked plan
AMP Sanmar Life Insurance on Wednesday launched a unit-linked insurance policy that has been named Kanaka Shree. At the launch, AMP Sanmar's Managing Director, Mr Graham Meyer, said the unit-linked policy and the pension plan were likely to be ...
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DEBT MARKET
Bond prices crash by over a rupee
FEARS of a hardening in domestic interest rates coupled with a panic bout of profit booking by bond market participants led bond prices to crash by over Re 1 across maturities in the government securities market on Wednesday. The yield on the ...
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PRIVATE BANKS
ICAI to write to GTB auditors
EVEN as the Reserve Bank of India's letter alleging "misconduct" by statutory auditors of Global Trust Bank (GTB) does not constitute a formal complaint, the Institute of Chartered Accountants of India (ICAI) intends to write to the auditors ...
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Private banks vie for Global Trust's retail pie
PRIVATE sector banks these days seem to be living by the adage; "There are no problems in business, only opportunities!" And by the looks of it, one bank's problem can certainly be converted into a business opportunity for other peer banks, ...
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PUBLIC SECTOR BANKS
SBI Aadi offer gets big response
STATE Bank of India's `Aadi' offer has evoked a good response. The bank has received nearly 6,000 applications during the three-day loan mela that concluded here on Tuesday night. If these enquiries are eventually honoured, the sanctions could ...
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GOVT BONDS
6 State loans closed
TRADE & LABOUR UNIONS
Kerala: Banks crippled as staff stay away in protest
BANKING operations in the State were crippled after a majority of the officer cadre owing allegiance to the All-India Bank Officers' Confederation stayed away from work to protest attacks on bank branches by Left-wing students over the past few ...
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`Transfer' holding up bank wage pact
IT all boils down to mobility. That's the word holding up a wage agreement between public sector bank managements and unions. Put simply, managements want the freedom to transfer clerks anywhere in the country. Labour unions disagree. Other ...
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Cross Currency Rates
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