MONEY & BANKING
FOREX
`China may revalue yuan'
CHINA may move to revalue its currency in the near future, an event that may eventually have a negative impact on the commodity market, felt Mr S. Naganath, Joint President & Chief Investment Officer of DSP Merrill Lynch Fund. Mr Naganath ...
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Rupee at 5-mth high; bond prices decline
MUMBAI: The rupee strengthened on the back of substantial FII inflows to a five-month closing at 45.20/21 against the dollar on Thursday. The rupee gained 17 paise over the previous day's close at 45.37/3750. There was good two-way ...
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GENERAL INSURANCE
Seven-year long legal battle over ESI cover before apex court
EVEN as the Government is making efforts to strengthen the Employees' State Insurance Corporation (ESIC), employees of a large number of big corporates as well as a few public sector enterprises (PSEs) want to opt out of its health scheme cover. ...
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FINANCIAL MARKETS
`Cos unaware of innovations in raising funds'
A NUMBER of innovations are taking place in the financial market, giving means for cheaper finance to companies. But the market is perhaps not fully aware of them, said a speaker today at The India Finance Forum 2004, a conference on `Emerging ...
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DEBT MARKET
`NDS gilt trading must be under RBI watch' — Panel seeks screen-based order matching system
THE Reserve Bank of India Working Group on `Screen Based Trading In Government Securities' has called for the immediate introduction of a screen-based anonymous order matching system on the Negotiated Dealing System (NDS). This would ensure ...
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RBI & OTHER CENTRAL BANKS
Firms raise $1.5 b through ECBs in Sept
INDIAN companies took in $1.5 billion through external commercial borrowings (ECBs) in September, according to the latest figures put out by the Reserve Bank of India. The total ECBs for the corporate sector have crossed $6.6 billion in the ...
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PRIVATE BANKS
BOB branch at Kottayam
New premises for Dhanalakshmi Bank
PUBLIC SECTOR BANKS
SBH plans `Loan Mahotsav'
STATE Bank of Hyderabad (SBH) is launching its two-day annual `Festival Loan Mahotsav' on November 5 at the Institute of Engineers here. In a press release here on Thursday, the bank said it expects to book business to the extent of Rs 100 ...
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SBT shifts Akkulam branch
INTEREST RATES
Many banks in Kerala hike deposit rates
The Catholic Syrian Bank has increased its interest rates for domestic term deposits for 15 - 45 days maturity to 4.25 per cent; for 46 - 179 days to 5 per cent; and 180 days to one year to 5.5 per cent. Periods over one year but less ...
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GOVT BONDS
RBI cancels Rs 2,500 cr auctions under MSS
The cancellation of the MSS auction is indicative that RBI may cancel further issuances under MSS, in view of tight liquidity, dealers said.
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MERGERS & ACQUISITIONS
UTI Bank stake hike — HSBC to await clarity on FDI policy, voting rights
HSBC has said that it would await the final policy on foreign direct investment (FDI) and voting rights cap in private banks, before deciding on whether to hike its 14.6 per cent stake in UTI Bank. "Once new regulations and RBI guidelines come ...
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CPI (M) flays move to allow foreign banks to acquire shares
THE CPI (M) Polit Bureau Member, Mr Prakash Karat, has criticised the recent statement of the Union Finance Minister, Mr P. Chidambaram, where the latter had said that the Government is open to allowing acquisition of shares - up to 10 per ...
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TRADE & LABOUR UNIONS
Kerala Circle SBI staff to strike work
Cross Currency Rates
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