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Saturday, September 25, 2004

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MONEY & BANKING

FOREX
Marginal rise in rupee; bond prices gain
MUMBAI: The rupee touched a low of 45.9450 but closed a shade higher at 45.90/91 against the dollar on Friday. The currency was marginally changed from previous close at 45.92 per dollar. The rupee edged down from morning levels of ... More

LIFE INSURANCE
ICICI-Prudential expected to raise capital for growth
ICICI Prudential Life Insurance Company Ltd is expected to raise its capital in line with its growth plans for the current financial year. Speaking to newspersons here on Friday, the ICICI Prudential Managing Director, Ms Shikha Sharma, said, ... More

GENERAL INSURANCE
NAC to formulate health insurance proposal for poor
THE National Advisory Council has decided to formulate specific proposals on health insurance for the poor, community health volunteers, and health delivery systems that will be forwarded to the Government. The meeting, chaired by Ms Sonia ... More

New insurance cover for personal accident
AR Insurance Brokers Pvt Ltd and Bajaj Allianz General Insurance Company have jointly launched a low-cost personal accident insurance product. The product called `Nischint', covers loss of life in the event of an accident and also covers all ... More

PUBLIC SECTOR BANKS
Vijaya Bank inks MoU with Punjab Tractors
VIJAYA Bank has entered into a memorandum of understanding with Punjab Tractors Ltd with a view to facilitate farmers purchase tractors on softer terms. A Vijaya Bank release said here on Friday that the bank was now ready to finance tractors ... More

FOREIGN BANKS
Foreign banks still shy of joining CDR mechanism
DOMESTIC lenders are still finding it difficult to rope in foreign banks to participate in the corporate debt restructuring (CDR) mechanism, aimed at helping corporates to overcome their temporary financial problems. The CDR mechanism, which ... More

MERGERS & ACQUISITIONS
Corporation Bank to explore acquisitions
THE Mangalore-based Corporation Bank is the latest to join the takeover bandwagon. The bank's board, which met on Friday, passed a resolution authorising the Chairman and Managing Director to explore the possibility of acquiring other ... More


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Top Stories
IT sector contribution could touch 9 pc of GDP: Karnik


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Looking back
Sep. 12-Sep. 18
Bank credit rises by Rs 24,114 cr

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Bonds shrug off inflation

Save short and borrow long

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RBI raises CRR of urban co-ops by 50 basis points

LIC bonus at Rs 80 for whole life plans

IMF-Bank annual meetings — India must push new initiatives

Dry-runs on screen-based gilts trading

For intervention in domestic forex market — $1-b US securities sold in July


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