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Thursday, October 06, 2005
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MONEY & BANKING

FOREX


Rupee falls further; bonds bearish
MUMBAI: The rupee further depreciated against the dollar on Wednesday but recovered some of its losses after a senior RBI official made a statement to the effect that the the apex bank could intervene to provide stability to the foreign ... More

LIFE INSURANCE


Free NIA accident cover for PNB borrowers
NEW DELHI: Punjab National Bank (PNB) has entered into a tie-up with New India Assurance Co Ltd to extend free of cost personal accident insurance cover to its retail lending customers. The cover would be of a maximum of Rs 2 lakh and ... More

FINANCIAL POLICY


Raising capital by banks — RBI mulls hybrid instruments
THE Reserve Bank of India is considering allowing banks to raise capital through hybrid instruments, other than equity and bond. Classifying preferential capital as Tier-I capital too may be considered, but Parliament has to amend the Banking ... More

PUBLIC SECTOR BANKS


We have set higher target this year: PNB
Public issue mop-up bloated figures, Govt told

PUNJAB National Bank (PNB), defending the projections on deposits and advances made in its Statement of Intent for 2005-06, has said that the Government might have been deceived by the bank's previous year-end figures which took into account the ... More

FINANCIAL INSTITUTIONS


IL&FS to get 1 pc as fee for promoting textile parks
INFRASTRUCTURE Leasing and Financial Services Ltd (IL&FS), which has been identified by the Ministry of Textiles as the nodal coordinating agency for the promotion of projects under the centrally sponsored Integrated Textile Park Scheme (ITPS), More

Plea to retain DFI status of Nabard
THE meeting of the national council of the National Bank Officers' Association, which represents officers of National Bank for Agriculture and Rural Development (Nabard), has said that the development financial institution status of Nabard must ... More

CREDIT MARKET


Priority sanctions at Rs 610 cr in Thiruvananthapuram dist
THIRUVANANTHAPURAM: Priority credit sanctions by banks in Thiruvananthapuram district during the first quarter have crossed Rs 610.24 crore. This represented 34 per cent of the annual target of Rs 1775.17 crore. This was revealed at the ... More

CREDIT CARDS & DEBIT CARDS


Lifestyle credit
SBI Card and retail store Lifestyle have launched the Lifestyle Card. It will be offered free for the first year for customers. In addition to the SBI Card's regular features, it includes four reward points for every Rs 100 spent at any of the ... More

FIXED DEPOSITS


SIB raises NRE, FCNR deposit rates
THE South Indian Bank has revised the interest rates on NRI deposits from October 1, 2005.

More

MERGERS & ACQUISITIONS


Federal Bank, LKB boards okay merger plan
THE board of directors of Federal Bank, which met in Mumbai on Wednesday, has decided to evaluate and initiate the merger of Lord Krishna Bank with itself. The decision will be subject to the approval of the shareholders and the authorities ... More

REGULATORY BODIES & RULINGS


IRDA studying online sale of policies
THE Insurance Regulatory and Development Authority of India is studying the implications of Internet selling of insurance products and will take precautionary measures if needed, Mr Mathew Verghese, former member, Non-life, IRDA, has said. Some ... More

PUBLIC OFFER


ICICI Bank, South Indian Bank to issue fresh equity
TWO banks on Wednesday announced plans for fresh issue of equity shares to raise funds to enhance their capital base. ICICI Bank Ltd, the second biggest bank in the country, announced that its board would meet on October 13 to consider fresh ... More

TRENDS


Banks in Dakshina Kannada achieve Rs 10,586-cr biz in Q1
AS many as 350 branches of 45 banks in Dakshina Kannada district have achieved business level of Rs 10,586 crore as on June. This includes deposits of Rs 6,797 crore and advances of Rs 3,789 crore. This was informed to the district ... More

Banks keen on more fee-based income
MOST banks are set to see a rise in fee-based income, as interest income continues to be under pressure and profits from trading keep declining. Marketing products like mutual funds and insurance policies, offering credit cards to suit ... More




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