MONEY & BANKING
FARM CREDIT
Bank of India scheme for farm women
Tuber Institute to be technology partner in credit scheme
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SBI, VRS Foods sign pact
State Bank of India and VRS Foods Ltd and Ved Ram & Sons with their brand name as `Paras' have entered into an agreement to finance farmers to set up dairy units and its entire value chain. This agreement is expected to help increase milk ...
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FOREX
Rupee firm against dollar
The rupee stayed firm against the dollar in tandem with the movement of the other currencies against the greenback. The domestic currency opened at 46.47/48, fell to 46.53 before closing at 46.50 against 46.50/51 on Monday. ...
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GENERAL INSURANCE
Insurance cos negotiating for motor cover premium hike
May put in place a pool if transporters' lobby objects to rise
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PRIVATE BANKS
Dhanalakshmi Bank joins CashTree ATM network
Dhanalakshmi Bank has joined the CashTree network of shared ATMs, which will enable the bank's customers to access over 17,000 ATMs across the country. The latest addition comes after making available shared ATM networks such as Cashnet and the ...
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FOREIGN BANKS
HSBC extends factoring service to SMEs
HSBC today announced the launch of factoring services to SMEs, whose rise in the wake of strong export growth has expanded opportunities in the financial business stream. The service would be available at Mumbai, New Delhi, Kolkata, Pune, ...
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FINANCIAL INSTITUTIONS
KPFC to diversify
The Kerala Power Finance Corporation Ltd (KPFC) is diversifying its activities to cover financing of all infrastructure development works in the State. Accordingly, the company has been renamed as "Kerala State Power and Infrastructure Finance ...
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INTEREST RATES
BoI hikes PLR, deposit rates
Bank of India has hiked its prime lending rate (PLR) by 25 basis points to 11.5 per cent effective August 29. The bank has also raised deposit rates across various maturities by 25-50 basis ...
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GOVT BONDS
Bond prices recover at close
The bond prices moved in range of 20-23 paise as they were weak in the morning due to lack of buying interest, but recovered towards close. Traders feared that increased supply of bonds, in the event of oil bonds getting SLR ...
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CREDIT MARKET
Liquidity adequate to support 25 pc credit growth: Crisil
`Some pvt banks will need to mobilise resources to fund credit growth'
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SHORT TERM INSTRUMENTS
Call rates remain unchanged
Call rates remained unchanged between 6 and 6.10 per cent. In the first one-day reverse repo auction under LAF, the Reserve Bank of India received and accepted 21 bids amounting to Rs 24,580 crore and in the second one-day ...
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MERGERS & ACQUISITIONS
LKB, Centurion Bank boards meet on Sept 4 to decide on merger
On September 4, the boards of Lord Krishna Bank and Centurion Bank of Punjab will meet in Delhi to give a final decision on the merger proposal. Both the boards will also assess the valuation and due diligence, which Deloitte Haskins and ...
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Kerala CM against LKB merger with BoP
The Chief Minister, Mr V. S. Achuthanandan, has expressed himself against the proposed move for merger of Lord Krishna Bank with Bank of Punjab. In a communication to the Union Finance Minister, Mr Achuthanandan demanded that ...
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ALLIANCES & JOINT VENTURES
ICICI Bank, Mitsubishi Sec tie-up
ICICI Bank and Mitsubishi UFJ Securities Co Ltd have signed a memorandum of understanding to offer reciprocal services in corporate finance, asset management business, merger and acquisitions among others. The tie-up is ...
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EVENTS
SBI organises Onam Expo
In view of the ensuing Onam festival, a mega Onam Expo is being organised by the State Bank of India, Zonal Office, Ernakulam at Rajiv Gandhi Indoor Stadium from August 31 to September 2. Concessions in interest rates and ...
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SOCIETY & DEVELOPMENT
SBH tie-up for street kids
State Bank of Hyderabad (SBH) has joined hands with Sri Ram Charitable Trust to help street children to study and also undergo computer training. The idea is to make them computer literate and better chances of employment. The bank has ...
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PEOPLE
Doctorate for Andhra Bank CMD
The Chairman and Managing Director of Andhra Bank, Mr K. Ramakrishnan, has been conferred with the honorary doctorate by the Acharya Nagarjuna University. According to a press release, the University Vice-Chancellor, Dr V. ...
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TRENDS
Palakkad set to become `total banking' district
100% INCLUSION PROGRAMME
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