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Friday, November 24, 2006
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MONEY & BANKING

REGIONAL RURAL BANKS
Peace and empowerment
Grameen Bank's Muhammad Yunus has ushered in a silent revolution of poverty alleviation and women's empowerment. More

Karnataka Vikas signs pact with Sonalika Tractors
The bank aims to finance 2,000 tractors till the end of March. More

FOREX
Rupee gains on FII inflows
Strong FII inflows into the domestic equity markets strengthened the rupee by almost 11 paise on Thursday. The currency opened at 44.73 and closed at 44.69, against the previous close of 44.80 on Tuesday. The dollar has weakened ... More

GENERAL INSURANCE
National Insurance sets premium target at Rs 3,900 cr
National Insurance Company Ltd (NICL) has set a premium income target of Rs 3,900 crore for the fiscal 2006-07. NICL gained new accounts during the current fiscal helping it maintain a four per cent year-on-year growth to clock a ... More

PRIVATE BANKS
SEBI allows HDFC Bank to open DP a/cs
Security and Exchange Board of India has lifted the ban on HDFC Bank, a depository participant, allowing it to open fresh demat accounts. SEBI had prohibited the bank to issue further demat accounts, as it had failed to adhere to the `know your ... More

FIIs' investment in Yes Bank
FIIs, NRIs and persons of Indian origin can now purchase equity shares and convertible debentures of Yes Bank under the portfolio investment scheme up to 49 per cent of its paid-up capital, according to an RBI circular. ... More

PUBLIC SECTOR BANKS
SBI launches online trading
SBI today launched an online trading facility, eZ@sbi account, with Motilal Oswal Securities Ltd (MOSL). It is a three-in-one account. The demat account and the savings or current account will be opened with SBI and ... More

FOREIGN BANKS
HSBC makes case for modern property registration system
Bank officials meet CM More

GOVT BONDS
Bond prices shed gains at close
Bond prices rose during the day but profit booking erased some of the gains towards the close. The total traded volume on the order matching system was around Rs 5,265 crore (Rs 6,470 crore). Dealers said prices opened higher ... More

CREDIT MARKET
SBI may revise loan growth target upwards
Corporate segment offtake rising at a faster clip More

SHORT TERM INSTRUMENTS
Call rates end lower
Call rates ruled low between 6.1 per cent and 6.2 per cent as against 6.25 and 6.35 per cent on Wednesday. In the first one-day reverse-repo auction under LAF, the RBI received and accepted seven bids for Rs 6,555 crore. There ... More

CREDIT CARDS & DEBIT CARDS
PNB credit cards foray by March
Punjab National Bank (PNB) plans to come up with its own credit card by March next year. It would soon invite expression of interest (EOI) for a joint venture partner in the proposed credit card venture. Currently, PNB has a co-branding tie-up ... More

REGULATORY BODIES & RULINGS
IRDA asked to be tough on compliance
Chairman of National Consumers Disputes Redressal Commission, Mr Justice M. B. Shah, has asked the IRDA (Insurance Regulatory and Development Authority) to implement the "regulations ruthlessly" to protect the interests of the ... More

ALLIANCES & JOINT VENTURES
Oriental Bank ties up with IL&FS Investsmart for online trading
Initially, this facility would be available on a pilot basis at Mumbai More

ICICI Bank pact with Canadian agency
ICICI Bank has signed a memorandum of understanding with Export Development Canada (EDC), a Canadian export credit agency, for financing support to Indian buyers of capital goods and professional services from Canada. "ICICI ... More

TRENDS
75% of banks yet to budget funds for Basel II
Basel II was to have been on in about four months, but Indian banks got a reprieve when the Reserve Bank of India recently extended the deadline by up to two years. Perhaps our banks knew it all along that compliance with Basel II was still far ... More






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