MONEY & BANKING
INSIGHT
ECB losing appeal for corporates
WITH international interest rates on the ascent, corporate interest in foreign currency loans has considerably waned. Banking sources said that since the beginning of this month few corporates or banks have approached the external commercial ...
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FOREX
Rupee up 11 paise; securities firm
MUMBAI: The US currency losing strength overseas aided the rupee's rally for the fourth consecutive session, as it ended at 43.91/92 per dollar on Thursday off intra-day highs of 43.73/74. The currency closed 11 paise above the previous ...
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HOUSING FINANCE
A BUSINESS LINE FEATURE ON HOME LOANS
A question of interest: Where are the rates headed?
The housing needs of the low-income group and the poorer sections have remained largely unaddressed. About 90 per cent of the shortage in housing is experienced by the economically weaker sections.
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SBT's festival offer
STATE Bank of Travancore (SBT) has reduced the interest rates on housing and vehicle loans as a festival offer. The offer, with effect from December 16, will be in operation till December 27, according to a statement from the bank. For housing ...
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RBI & OTHER CENTRAL BANKS
Priority sector tag only for Nabard bonds, banks told
IN a move to encourage banks to lend directly to farmers and other priority sector borrowers, the Reserve Bank of India has said, effective April 1, 2005, investments by banks in the bonds issued by the specified institutions, except Nabard, ...
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PRIVATE BANKS
Plans staggered capital infusion — YES Bank hints at IPO in near-term
THE baby of the Indian banking pack — YES Bank Ltd - is embarked on a five-year health plan. The fledgling bank is working on plans for three separate capital-raising exercises staggered over the next five years to bolster its ...
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Dhanalakshmi Bank to offer loans to buy TAFE tractors
DHANALAKSHMI Bank Ltd has tied up with Tractors and Farm Equipment Ltd (TAFE) to offer loans for purchasing tractors and farm equipment at a concessional rate of interest and with lower margin money payment. According to a Dhanalakshmi Bank ...
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PUBLIC SECTOR BANKS
PNB picks up 3.7 pc stake in Surana Telecom
PUNJAB National Bank has acquired 4,19,996 equity shares of Surana Telecom Ltd, which represents about 3.72 per cent of the total paid-up capital of the company. The company has also seen another investor, Fortis, picking up over one per cent ...
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INTEREST RATES
We will look into issue of raising interest rate on PF funds: PM
THE Prime Minister, Dr Manmohan Singh, on Thursday said the Government would look into the issue of raising the interest rate payable on provident fund deposits. Dr Singh told reporters , "We have always said we will look into the matter but ...
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SECURITISATION
Parliament nod for Securities Bill
NEW DELHI: The Parliament on Thursday approved the Securities Laws (Amendment) Bill, 2004, with the Rajya Sabha giving its assent to the proposed legislation. The Bill proposes to bring about structural transformation of stock ...
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PEOPLE
UTI Bank to split CMD post
THE board of UTI Bank has decided to split the post of Chairman and Managing Director into two non-executive Chairman and Managing Director. In a notice to the stock exchanges, the bank said the board took the decision at its meeting on ...
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P.K. Gupta takes over as NHB head
MR P. K.Gupta took charge as the Chairman and Managing Director of National Housing Bankon Thursday. Prior to this, Mr Gupta was Executive Director in Corporation Bank ...
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Cross Currency Rates
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