MONEY & BANKING
FOREX
6 States account for 50 pc of remittances
Six States, Kerala, Punjab, Gujarat, Tamil Nadu, Maharashtra and Andhra Pradesh, would be accounting for 40-50 per cent of the $23-billion annual remittances to India, Mr Anil Kapur, Managing Director of Western Union for South Asia, said. The ...
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Rupee gains 7 paise
The rupee strengthened by almost seven paise on Wednesday on sustained FII inflows into the domestic equities. The home currency opened strong at 44.81/83, tracking the movement of yen against the dollar and finally closed at ...
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SOFTWARE
i-flex tool for Interbank, DBS Bank
i-flex Solutions Ltd has said that Peru-based Interbank and Singapore-based DBS Bank have selected the Reveleus Operational Risk (ROR) package of Reveleus, a tool offered by the domestic financial solutions provider. The company did not provide ...
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PUBLIC SECTOR BANKS
`Reserve train tickets at ATMs'
As part of its initiative to improve ticket-booking facilities for passengers, the Railways would soon enable buying of reserved train tickets from ATMs, which are being set up at railway stations. The ATMs would have Internet access facility, ...
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PNB offers online share trading
Ties up with IDBI Capital
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Indian Bank full-fledged branch in HC
Indian Bank's extension counter in the Madras High Court campus has been upgraded as a full-fledged branch, according to a press release from Indian Bank. It will have the facilities under Core Banking Solution and also offer ...
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FOREIGN BANKS
UTI Bank: HSBC to let its holding remain for now
HSBC, a critical stakeholder in UTI Bank, will for now let its holding remain as it is but is fully aware that the advancing stock market offers it an opportunity to dispose of the stake at a good price. The foreign bank, which on September 30 ...
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HSBC plans to realign business mix
To focus more on non-corporate segments
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FINANCIAL INSTITUTIONS
Micro-finance institutions under RBI lens
`MFIs are disbursing loans within 10-15 days of the formation of the group, unlike the SHG-bank linkage programme'.
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Srei to launch new version of `Money Bag 2005'
Plans to unveil four novel financing schemes at global mining expo
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GOVT BONDS
Bond prices edge up
Bond prices edged up on improved liquidity. The total traded volume on the order-matching system stood at Rs 6,470 crore (Rs 8,515 crore). Dealers said bond prices were initially range-bound but began moving up as there were ...
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SHORT TERM INSTRUMENTS
T-bills fully subscribed
The Rs 4,000-crore 91-day and 364-day T-bills auctions on Wednesday were fully subscribed. The Market Stabilisation Scheme (MSS) amount for 364-day T-bill was Rs 1,000 crore. The Reserve Bank of India received 56 competitive ...
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Call rates lower
Call rates ruled low between 6.25 per cent and 6.35 per cent against 6.65 and 6.75 per cent on Tuesday. In the first one-day reverse-repo auction under LAF, RBI received and accepted three bids for Rs 160 crore. There were no ...
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E-COMMERCE & E-BUSINESS
E-payments on the rise
Retail electronic payments rose by 36 per cent in the first half of the current fiscal. According to the Reserve Bank of India's Bulletin (November), payments made through this form were at Rs 1,00,668 crore in the period from April-September ...
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Bank of India's e-share trading
Bank of India is launching online share trading jointly with broking firm Asit C Mehta Investment Intermediates Ltd. The broking firm would provide the online trading facility while the bank would offer banking facilities like ...
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CO-OPERATIVES
Urban co-ops may get to issue bonds, special shares
RBI group identifies new instruments to raise capital
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Mogaveera Co-op Bank penalised
The Reserve Bank of India has imposed a Rs 5-lakh penalty on Mumbai-based, Mogaveera Co-operative Bank for violation of the central bank's directive that prohibits advances to directors, their relatives and firms or companies in ...
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