MONEY & BANKING
SOCIAL SECURITY
LIC micro-insurance scheme for the poor
Launch by Kalam on Sept 28
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INSIGHT
TARAPORE COMMITTEE REPORT
Exchange control norms need a re-look
Apart from measures for capital account convertibility, the Tarapore Committee II has suggested simplification and liberalisation of facilities in the current account, including the removal of the sub-ceilings on the quantum of remittances ...
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Will charities overtake govts?
It is possible too, that, in due course, the resources and programmes of private charities will overwhelm Governments' budgets. The former will function with greater efficiency and accountability for results. After all, who's in charge in the Gates f oundation?
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FOREX
NRI remittances: Banks told to cut charges
Banks should bring down the cost of NRI remittances by trimming their charges, says a report of a working group constituted by the RBI. "Banks should review their existing scale of charges both at the foreign end and in the domestic centres," ...
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Rupee touches 46
The rupee gained slightly against the dollar on exporter selling while touching 46 during day trade. The rupee opened at around 45.99 and touched 46 on dollar buying. However, it recovered to end at 45.92/93, against the previous ...
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HUMAN RESOURCES
ICICI Bank takes stake in NIIT banking institute
Grooming manpower for financial sector
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PUBLIC SECTOR BANKS
SBI hits Rs 1,000-mark on sustained buying
`Investors are now getting more aware of the sector's potential'
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INTEREST RATES
Interest rates may remain stable, say bank chiefs
Lending rates for Special Economic Zones (SEZ) could move up following the recent RBI guidelines on capping real estate exposures, said Mr T.S. Bhattacharya, Managing Director, State Bank of India. Interest rates may soften for other players, ...
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GOVT BONDS
Bond prices gain 35 paise
Bond prices rose by 35 paise reacting to the RBI announcement of the auction calendar for Government securities. Dealers see a positive in the auctions being evenly spread over the rest of the fiscal. "Usually, a major part of ...
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SHORT TERM INSTRUMENTS
Call steady at 6.40%
Call closed at 6.40 per cent (6.40-6.50). In the first one-day reverse repo auction under LAF, the Reserve Bank of India received and accepted 4 bids amounting to Rs 5,640 crore and in the second one-day reverse repo auction, 16 ...
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MERGERS & ACQUISITIONS
UWB seeks RBI clarification
The United Western Bank's board, which met on Tuesday, will submit its suggestions on the draft scheme of amalgamation with IDBI Ltd to the Reserve Bank of India, according to a BSE notice. While the bank officials declined to comment, sources ...
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ALLIANCES & JOINT VENTURES
L&T, Citi consortium ink finance pact
L&T and a Citigroup-led consortium of banks signed a financing arrangement for US dollar equivalent of Rs 500 crore through a mix of FCNR and ECB funds to finance L&T's Palanpur-Swaroopganj road project. L&T Interstate Road Corridor Ltd
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OUTLOOK
RBI may extend Basel II deadline: Leeladhar
The Reserve Bank of India could relax the deadline for banks to comply with Basel II norms, expected to be finalised in a couple of weeks, according to Mr V. Leeladhar, Deputy Governor, RBI. Speaking at the sidelines of a seminar organised by ...
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PEOPLE
New GM, SBI Chennai Circle
Mr Anoop K. Prabhakar has assumed charge as General Manager (Network 2), Chennai Circle of the State Bank of India. He was earlier Deputy General Manager (BPR), Corporate Centre, Mumbai, SBI. ...
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