MONEY & BANKING
INSIGHT
Fully `bankable'
The Tarapore Committee report meets the long-standing demand of industrial houses and the business community to enter the banking sector.
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FOREX
Rupee weakens against dollar
The rupee weakened against the greenback on dollar demand from domestic oil companies. The home currency opened at 46.14, touching an intra-day high of 46.03, and ended at 46.20. On Wednesday, the rupee closed at 46.16/17. ...
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GENERAL INSURANCE
Premium detariffing could hit India's insurance rating
Companies' revenues likely to come under pressure
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FINANCIAL POLICY
RBI issues norms for financial entities investing abroad
Indian entities in the financial sector investing directly in overseas ventures engaged in financial and non-financial activities have to obtain approvals from domestic and foreign regulators, according to an RBI notification. The Indian entity ...
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DEBT MARKET
Bond prices fall slightly
In the bond market, there was a slight fall in prices tracking US yields. The traded volume on the order matching system was Rs 2,655 crore (Rs 2,990 crore). Dealers said the US 10-year fell to 4.83 per cent (4.78) following the release of the ...
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PUBLIC SECTOR BANKS
It's BoI day!
THE RBI GOVERNOR, Dr Y.V. Reddy (right), with the Bank of India CMD, Mr M. Balachandran, at the inauguration of credit counselling centre under the aegis of `ABHY' on 101st Foundation Day of Bank of India in Mumbai on Thursday. ...
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FOREIGN BANKS
Scope launches excellence centre
Scope International, a Chennai-based wholly owned subsidiary of Standard Chartered, has launched its Network Centre of Excellence. The centre, part of the technical services team at the IT service centre, was set up to arrest ...
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NON-PERFORMING ASSETS
Crisil launches agri risk monitor
Crisil has launched Agricultural Risk Monitor, a measure for agricultural lending risks. The banking service includes statistical analysis of district-level agricultural production, price behaviour and quantification of the ...
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SHORT TERM INSTRUMENTS
Call rates unchanged
Call rates remained unchanged between 6 and 6.1 per cent. In the first one-day reverse repo auction under LAF, the Reserve Bank of India received and accepted 17 bids amounting to Rs 23,800 crore and in the second one-day reverse ...
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MERGERS & ACQUISITIONS
Over a dozen banks in fray for UWB takeover
At the best of times, United Western Bank (UWB) would never have dreamt of a stream of suitors at its offices in Satara. At the worst of times, UWB has at least 12 suitors scrambling to RBI for ownership. Today was the last day for bids. More ...
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Shamrao Vithal acquires Mahavir Co-op Bank
Shamrao Vithal Co-operative Bank (SVC) has acquired Kolhapur-based Mahavir Co-operative Bank for Rs 13 crore. The process was complete on September 3, said Mr S. Hemmady, Chairman, SVC. "The acquisition of Mahavir will give us entry into the ...
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Rehabilitation package for a bank is at best a short-term remedy
I don't think rehab packages ever work unless they are backed by the skills required to restructure and turn around a business, says Mr Abizer Diwanji, Head - Transaction Services, KPMG India.
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Corp Bank gets board nod to submit EoI for UWB takeover
The board of Corporation Bank has approved its proposal to submit Expression of Interest (EoI) to the Reserve Bank of India to takeover United Western Bank Ltd - which is placed under moratorium by the Government of India - subject to ...
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TRADE & LABOUR UNIONS
Lord Krishna Bank staff on indefinite strike
Lord Krishna Bank employees under the aegis of the United Forum of LKB Unions have commenced an indefinite strike against the bank's proposed merger with Centurion Bank of Punjab. They have demanded that LKB should be taken over by a public ...
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Andhra Bank officers' conference
All India Andhra Bank Officers' Federation, the recognised officers' federation in Andhra Bank, has announced that it is organising its eighth all-India conference here on September 10. In a press release, the federation said ...
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