MONEY & BANKING
PRIVATE PLACEMENT
HDFC Bank bond sale
HDFC Bank Ltd sold Rs 200 crore bonds on private placement basis through unsecured non-convertible subordinated perpetual bonds in the nature of debentures to augment its Tier-I capital, said a BSE announcement. The coupon rate for the issue will ...
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FOREX
Gold weakens as dollar strengthens
Immediate upside potential appears limited
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Forex reserves rise by over $1 billion
Forex reserves have increased by $1.132 billion to touch $ 166.458 billion, for the week-ended September 1. In the previous week, reserves fell by $41 million to touch $165.326 billion. Foreign currency assets increased by $1.152 billion to ...
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Rupee slips on strong dollar demand
The rupee slipped by about two paise against the greenback on continuing demand for dollars from domestic oil companies. The home currency opened at 46.16, touched an intra-day high of 46.25 and ended at 46.22. On Thursday, the ...
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SOFTWARE
iGate scales up Canada bank account
iGate Global Solutions Ltd has seen a considerable ramp-up in the Royal Bank of Canada (RBC) account even as both firms completed the first year of their strategic business relationship. RBC is Canada's largest. RBC had signed up ...
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GOVT BONDS
Bond prices rally post-auction
Bond prices on Friday rallied after the Rs 9,000-crore auctions of two government papers, as the cut-off price set by the RBI exceeded market expectations. The market was in the positive territory for most of the day and saw a ...
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CREDIT MARKET
UCO Bank to focus on educational loans
UCO Bank's Mumbai region is planning to increase its educational loans portfolio from Rs 12 crore as on July to Rs 100 crore by end of this fiscal. The region's retail advances currently amount to about Rs 600 crore out of total advances of Rs ...
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Gross bank credit up
Gross bank credit has gone up by Rs 29,202 crore to Rs 15,86,119 crore as outstanding on August 25, according to Reserve Bank of India's Weekly Statistical Supplement. It includes food credit which moved up by Rs 290 crore to Rs ...
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SHORT TERM INSTRUMENTS
Call rate unchanged
The call rate was unchanged at 6-6.10 per cent. In the first three-day reverse repo auction under LAF, the Reserve Bank of India received and accepted 18 bids amounting to Rs 20,200 crore and in the second three-day reverse repo ...
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T-bill auctions announced
The Reserve Bank of India has announced a multiple price auction of 91-day and 364-day T-Bills on September 13 for raising Rs 4,000 crore. The notified amount for the 91-day Treasury bills is Rs 2,000 crore, of which Rs 1,500 crore will be ...
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CREDIT CARDS & DEBIT CARDS
`Payroll' card to draw salary from ATMs of SBI
When you see an auto driver, a sanitary worker, a courier boy, milk vendor or construction worker use a high-end mobile, you no longer raise your eyebrow. But when you see these people swipe a card in an ATM, would you dismiss it as `nothing ...
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MERGERS & ACQUISITIONS
UWB takeover: Management bandwidth for NPAs must
It may be unprecedented in banking history that so many banks are running around a musical chair called UWB (United Western Bank). If you are clueless as to the reason for the heightened interest, Mr Viren Mehta, Director, Ernst & Young, explains
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LKB, Centurion merger opposed
The All India Bank Employees Association (AIBEA), while demanding a thorough probe into the affairs of Kerala-based Lord Krishna Bank, has expressed its opposition to the merger of this bank with Centurion Bank of Punjab. Stating ...
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ALLIANCES & JOINT VENTURES
Union Bank ties up with NBHC
Union Bank of India has tied up with National Bulk Handling Corporation (NBHC) to finance farmers and traders against warehouse receipts issued by the Corporation. (NBHC). Farmers can store excess produce in warehouses and sell ...
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Franklin Templeton signs MoU with SBP
Franklin Templeton Investments (India) signed a MoU with State Bank of Patiala (SBP), an associate of State Bank of India (SBI), for the distribution of its products. Mr Ashok Mukand, CGM of State Bank of Patiala, said, "The signing of this ...
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CUSTOMER RELATIONSHIP MANAGEMENT
`Customers are not irritants but important'
A `drop system' has been introduced only as an additional facility and the customers are not prohibited from getting an acknowledgment if they desired, according to Mr S. Gopalakrishnan, Banking Ombudsman for Tamil Nadu, ...
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