MONEY & BANKING
INSIGHT
Moratorium is `a pre-emptive action' of the RBI
Ever since September began, UWB or United Western Bank Ltd has been in the news. We have been reading about the fast developments that followed the imposition of moratorium on UWB. Such as, customers anxiously queuing up to withdraw, and more ...
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FOREX
Rupee firmer against dollar
With oil companies becoming scarce (they were active on Monday), the rupee gained against the dollar on Tuesday. Dealers said gold buying by importers was also absent. The home currency opened at 46.34/36, touched an intra-day ...
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SOFTWARE
Thane Janata bank in tech tie-up
Thane Janata Sahakari Bank (TJSB), Hewlett-Packard and Infrasoft Technologies have announced a tie-up for a technology update of the bank. HP along with Infrasoft Technologies will implement and manage core banking solution (CBS) ...
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RBI & OTHER CENTRAL BANKS
RBI ANNUAL REPORT 2005-06
Growth versus fiscal prudence
While the Plan panel favours relaxing adherence to the FRBM Act, the Finance Minister is not for this, fearing loss of investor confidence.
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PRIVATE BANKS
YES Bank to raise $150-m capital to fund expansion
Ties up with Intel for wi-fi branch network
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PUBLIC SECTOR BANKS
Union Bank assures credit of outstation cheques in 5 days
Union Bank of India will soon introduce a system whereby it will ensure assured credit of all out-station cheques on the fifth day, the Chairman and Managing Director, Mr M.V. Nair, said here on Monday. Addressing presspersons, Mr Nair said ...
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GOVT BONDS
Bond prices fall
Bond prices fell on weak buying and fears over advanced tax outflows trimming liquidity. It is also seen as a correction as players booked profit after the September 8 auction, said dealers. Total traded volume on the order ...
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CREDIT MARKET
Banks do fine balancing on corporate advances
Net interest margins to be kept between 3 and 3.5 per cent
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SHORT TERM INSTRUMENTS
Call rates unchanged
Call rates were between 6.00 and 6.10 per cent. In the first one-day reverse repo auction under LAF, Reserve Bank of India received and accepted 18 bids amounting to Rs 20,070 crore and in the second one-day reverse repo auction, ...
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MERGERS & ACQUISITIONS
IDBI wins battle for United Western Bank
To make upfront payment of Rs 28 for every fully paid-up UWB share
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IDBI-UWB merger: A win-win deal
The shareholders of UWB could not have asked for a better price to exit. IDBI has offered to pay Rs 28 per share to the shareholders of UWB. This is at a 30 per cent premium to its current market price. At this price, the purchase consideration ...
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RBI decision a boon to IDBI, say analysts
Analysts see the RBI decision to hand over the sick United Western Bank to Industrial Development Bank of India as an unexpected boon for the latter. At one go, the public sector bank gets a branch network of 230 making its total number of ...
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OUTLOOK
`Central Bank trying to regain its lost glory'
Central Bank of India, the country's first `swadeshi bank', is increasing its presence in the foreign exchange, retail and SME sectors and giving renewed importance to para-banking to regain its `lost glory', said its Chairperson-cum-Managing ...
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PEOPLE
New banking ombudsman
Ms Suma Varma has taken charge as the Banking Ombudsman for Kerala and Lakshadweep. She was previously General Manager, Reserve Bank of India, Kolkata, an official release said. Members of the public can present their grievances ...
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