MONEY & BANKING
FOREX
Rupee gains as sentiment improves
THE rupee appreciated by 18 paise on Wednesday to close at 45.37/3750 per dollar on the back of improved market sentiment fuelled by various international developments. On Tuesday, the domestic currency closed at 45.55. According to ...
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CONSUMER FINANCE
Tata Motors in pact with Andhra Bank for car loans
TATA Motors has nominated Andhra Bank as the `preferred financier' for financing purchases of its passenger cars, as per a memorandum of understanding it signed with the bank here on Wednesday. The Andhra Bank Chairman and Managing Director, ...
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LIFE INSURANCE
LIC field workers stir
THIRUVANANTHAPURAM: The National Federation of Insurance Field Workers of India (NFIFWI), the organisation of Development Officers of the LIC of India, observed a strike and staged sit-ins on Wednesday to protest against management ...
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DEBT MARKET
Price-based auction likely for floaters
THE Reserve Bank of India is understood to be considering modification in the issuance structure of floating rate bonds (FRBs) to price-based auction from yield-basedauction, say money market participants. Some sections of the market ...
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FOREIGN BANKS
Ombudsman advisory to foreign banks
`The advisory is expected to serve as a reminder, to tell them that there is a spate of complaints about ordinary things and to ensure that such issues do not arise in future.'
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GOVT BONDS
Liquidity fears keep bonds range-bound
MUMBAI: Bond prices moved in a tight 10-15 paise band in a lacklustre Government securities market on Wednesday amid continued fears of a liquidity crunch. Call rates surged high to 5.25 per cent in the inter-bank market amid heavy ...
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State loans not fully subscribed
THE Reserve Bank of India's `on tap sale' of the 7.36 per cent State Development Loan, 2014 in respect of eighteen states, for an amount of Rs 6,200 crore, which closed today, was undersubscribed. Bond market analysts ascribed the under ...
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PUBLIC OFFER
FIIs offer high premium for public issue — Allahabad Bank prefers wide shareholder base
FOREIGN institutional investors (FIIs) based in Singapore would like to underwrite with substantial premium the entire Rs 100-crore public issue of Allahabad Bank to be made by the end of this year or early next year. But the bank management has ...
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TRENDS
Banks likely to face asset, liability mismatch in H2
WITH a shrinking deposit portfolio and burgeoning demand for credit, several banks could face a credit-liability mismatch during the second half of the current year. "The right stimulants for a revival in credit offtake are visible. After a ...
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Banks tightening corporate loan norms
FACED with mounting demand for fixed rate loans below the prime lending rates (PLR), banks have begun insisting three-year interest rate resets. Banking sources said that none of the corporates were presently keen to lock into floating rate ...
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Cross Currency Rates
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