MONEY & BANKING
OVERSEAS BORROWINGS
SBI plans second overseas debt issue
STATE Bank of India plans to come out with the second phase of its overseas debt offering in a couple of months, according to Mr A.K. Purwar, Chairman, SBI. Earlier this month, SBI raised $400 million as a debut offering, which was part of its ...
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ICICI Bank plans ADR
MUMBAI: ICICI Bank proposes to go in for a sponsored ADR issue. The board will meet on December 13 to "consider a proposal for sponsoring an issue of ADRs against existing shares held by its shareholders". ...
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INSIGHT
The US dollar versus the Chinese yuan
China is under increasing pressure from the US to revalue the yuan. With the US Government unwilling or unable to halt the decline of the dollar, this is seen as the means to prevent a dollar crash that can take the world economy into recession. In t his edition of Macroscan, C. P. Chandrasekhar and Jayati Ghosh examine the background to this perception and its validity.
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FOREX
Rupee breaches 44-mark to touch 8-month high
THE rupee breached the psychological 44-mark on Monday to finish at an eight month closing high at 43.6350/6450 against the dollar. The domestic currency had last seen similar closing levels on April 12, when it had ended at 43.64/65 per ...
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HOUSING FINANCE
Dewan Housing hikes rates
MUMBAI: Dewan Housing Finance Corporation Ltd has informed the Bombay Stock Exchange that the company has increased the rates of interest on individual housing loans. It has hiked the rates by 50 basis points to 75 basis points from the ...
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GENERAL INSURANCE
Regional licensing for health insurance sector mooted
THE Government should consider regional licensing for health insurance to make the sector a more interesting proposition for new entrants, Mr Analjit Singh, Chairman, Max India, has suggested. Speaking as a discussion leader at an interactive ...
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DEBT MARKET
Securities decline
MUMBAI: Bond prices fell by around 50 paise across maturities in the domestic debt market on selling pressure by bond traders, but staged a 30 paise recovery by the end of the day. Market sentiment was low due to a Rs 2,500-crore T-Bill ...
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PRIVATE BANKS
ICICI Bank expects retail portfolio to grow 50 pc
ICICI Bank expects its retail portfolio to grow between 40 per cent and 50 per cent this year. At the end of September, the bank's retail book was about Rs 40,000 crore. Half of it was from home loans. In the first half of the current year, ...
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PUBLIC SECTOR BANKS
Andhra Bank to lend more to agri sector
ANDHRA Bank believes that agriculture is a profitable business proposition and plans to aggressively expand its exposure to agriculture, according to the Chairman and Managing Director, Mr T.S. Narayanasami. Speaking to newspersons on Monday on ...
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Canara Bank loans for pomegranate cultivation in northern Karnataka
AT a time when bankers are concentrating on area-specific farm credit schemes to widen their agriculture credit portfolio, Canara Bank has taken a step ahead by launching a Rs 30-crore project for pomegranate cultivation in drought-prone taluks ...
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Air India, Indian Bank unveil schemes for travel to Singapore
AIR India, in partnership with Indian Bank, has introduced travel schemes to Singapore offering travellers the option of loans on equated monthly instalments (EMIs) through the bank's branches in Tamil Nadu. The schemes are in line with the ...
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SECURITISATION
Securitisation Act amendment Bill tabled in Lok Sabha
THE Minister of State for Finance, Mr S.S. Palanimanickam, has introduced two Bills in the Lok Sabha to replace the Enforcement of Security Interest and Recovery Debts Laws (Amendment) Ordinance, 2004 and the Securities Laws (Amendment) ...
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TRADE & LABOUR UNIONS
Syndicate Bank staff for debate on merger of public sector banks
THE Syndicate Bank Staff Association (SBSA) has urged the Union Government to initiate a round table debate on merger of public sector banks with representatives of trades unions, banking industry, depositors association, experts from financial ...
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EVENTS
Banking summit in Mumbai
THIRUVANANTHAPURAM: The President and Chief Executive Officer of Technopark-based SunTec Business Solutions, Mr K. Nandakumar, will address the delegates of the India Banking Summit 2004 being held in Mumbai on Tuesday and Wednesday. Mr ...
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Cross Currency Rates
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