MONEY & BANKING
FOREX
Rupee sheds 45 paise intra-day on corporate demand for dollar
WITH the TDP-BJP alliance being routed in the Andhra Pradesh, corporates turned wary and rushed into purchasing dollars making the rupee lose as much as 45 paise intra-day against the greenback. The rupee, however, recovered a tad to end the ...
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FINANCIAL PERFORMANCE
Royal Sundaram posts maiden profit
ROYAL Sundaram Alliance Insurance, a general insurance company, announced a profit after tax of Rs 8 crore for the financial year 2003-04, the first time the company has made a profit. The premium income for the year was Rs 262 crore, a 40 per ...
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HOUSING FINANCE
Germany's BHW takes over Birla Home Fin
BHW Holding AG, one of the largest private sector retail home finance companies in Germany, has acquired 100 per cent stake in Birla Home Finance Ltd in a "friendly takeover". The German company has paid Rs 110 crore to increase its stake in ...
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CONSUMER FINANCE
J&K Bank, Bajaj Tempo in pact
LIFE INSURANCE
SBI Life tops target in premium income
SBI Life Insurance Company Ltd has recorded a 210-per cent growth in total premium income at Rs 225 crore for the financial year ended March 31, 2004, against Rs 72.75 crore recorded in the previous year. "The company has exceeded its internal ...
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MetLife unit to track `delinquent' policies
Life insurers normally suffer high delinquencies due to high employee attrition rates.
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PUBLIC SECTOR BANKS
SBT donates to relief fund
THIRUVANANTHAPURAM: State Bank of Travancore has donated a sum of Rs 25 lakh to the Chief Minister's Distress Relief Fund. A team from the bank headed by its Managing Director, Mr Amitabha Guha, the Chief General Manager, Mr P.P. ...
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SBBJ net up 48 pc; to pay 100 pc
STATE Bank of Bikaner and Jaipur (SBBJ) has posted a net profit of Rs 301.52 crore for the year ended March 31, 2004, a rise of 48 per cent over the net of Rs 203.28 crore recorded in the previous year. The operating profit of the bank rose to ...
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UBI core banking system in Kerala
KOCHI: The Union Bank of India will introduce the core banking solutions in 25 more branches in the State. It has introduced the core banking solution at its Panampilly Nagar branch in Kochi. By introducing the system, the branch has been ...
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FINANCIAL INSTITUTIONS
ADB team visits APSFC
A STUDY team from the Asian Development Bank (ADB) has visited the Andhra Pradesh State Financial Corporation (APSFC) and held detailed discussions on measures required to strengthen State financial corporations (SFCs) and help them play a bigger ...
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GOVT BONDS
Strong data ratchets up US Treasury yields
NONE of the economists surveyed in pre-FOMC meeting polls thought that the Fed would raise interest rates at last week's meeting and it was right. They were practically unanimous, however, that there would be a considerable change in the tone ...
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G-Secs recover after initial fall
MUMBAI: The Government securities prices fell by 20-40 paise intra-day on Tuesday but recovered to close at previous levels. The TDP-BJP's performance in Andhra Pradesh is being taken as a cue to the Lok Sabha results to be ...
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CREDIT CARDS & DEBIT CARDS
IOC-Citibank co-branded card
FIXED DEPOSITS
Allahabad Bank raises FCNR, NRE deposit rates
ALLAHABAD Bank has revised upward the interest rates on Foreign Currency Non-Resident (FCNR) deposits and Non-Resident (External) Rupee (NRE) Term deposits. The revised rates came into force from May 7. The revised rates for FCNR deposits in ...
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Cross Currency Rates
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