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Kalam wants banks to double credit flow to farm sector — `Find ways to invest forex reserves profitably'
THE President, Dr A.P.J. Abdul Kalam, has said that banks should explore ways to profitably invest a portion of the $120-billion foreign exchange reserves. Outlining a six-point mission for the banking sector in his inaugural address at BanCon ...
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SBI likely to hike deposit, lending rates
THE Chairman of State Bank of India, Mr A.K. Purwar, today hinted that the bank is likely to announce an increase in its deposit and lending rates soon. "We are reviewing both (deposit and lending rates)," Mr Purwar said on the sidelines of a ...
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UB Group looking to bid for SWC liquor biz; Jumbo unmoved
THE UB Group has said that it is likely to bid for Shaw Wallace & Co's (SWC) liquor business, which is on sale. The UB group, which had earlier quashed talks about bidding, disclosed that its Chairman, Mr Vijay Mallya, had written to the Jumbo .
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UB offloads Bayer stake to fund Kingfisher Air
THE UB Group has offloaded its minority shareholding in Bayer India Ltd for nearly Rs 33 crore, a top company official said. The funds raised through this disinvestment will be pumped into the group's proposed low-cost airline, Kingfisher Air. ...
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IA fleet acquisition plan gets PIB approval
INDIAN Airlines (IA) on Wednesday moved a step closer towards achieving its fleet acquisition programme with the Public Investment Board (PIB) clearing the state-owned airline's proposal to purchase 43 new Airbus aircraft. "We have cleared the ...
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India has fallen behind in knowledge economy growth: Study
WHILE India is at the bottom one-third of the global knowledge economy comparison, it leads among South Asian countries. In the ICT (information communications technology) sector, India has made significant advances in telephone, computer and ...
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BPL lenders to move Kerala HC to push through recast package
MEMBERS of the corporate debt restructuring (CDR) forum of banks and financial institutions on Tuesday gave final approval to a recast package of Bangalore-based consumer durable maker BPL Ltd and decided to move court to bring around unrelenting ...
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Many MFs keen on launching mid-cap funds
SEVERAL mutual funds keen on making the most of the mid-cap rally have filed with the SEBI their offer documents for launching mid-cap funds. Fund houses are approaching the market regulator to launch both pure mid-cap funds and multi-cap ...
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Oilmeal exports likely to fall on global glut
OILMEAL exports are likely to be lower during the current fiscal, though they are higher during the April-October period. Realisation from exports is also expected to decline during the fiscal as the global market is faced with a glut. "We ...
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