MONEY & BANKING
FINANCIAL SERVICES
GE Energy sets up office in India
GE Energy Financial Services, a unit of General Electric, is setting up its office in India to pursue investments in energy and water. Mr Tejpreet Chopra, President and CEO, GE Commercial Finance India, said that the unit will function under ...
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REGIONAL RURAL BANKS
Changing paradigms for development banking
Micro-credit will have to play as critical a role in the urban context as in the rural areas if India aspires to make any positive impact on its citizens' economic well-being. It just requires a little bit of financial and business acumen to develop a model that will not only be profitable but also has a lasting social impact on the developmental agenda, say SAMIK DASGUPTA and RISHABH BAJPAI.
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INSIGHT
Fed cut looms large
`When Wall Street sneezes, the rest of the world catches a cold'. So went the old saying. No longer. When China's stock market tanked last week, the Dow Jones Industrial Average caught much more than a cold. It fell over 400 points - the worst ...
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FOREX
Rupee recovers
The rupee recovered against the greenback on heavy dollar-selling by corporates. The domestic currency opened at 44.55/57 and touched an intra-day low of 44.59. It closed the day at 44.46/47 against Monday's close at 44.63/64. ...
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INFORMATION TECHNOLOGY
United Bank's first CBS branch in Delhi
United Bank of India on Monday rolled out its first Core Banking Solution (CBS) branch in the Capital. The bank has plans to extend the CBS facility to 600 branches throughout the country. ...
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LIFE INSURANCE
DLF readies for foray into life insurance
Takes Prudential Financial of US as partner
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Canara Bank hires E&Y for insurance biz plan
To prepare a biz plan for life insurance joint venture
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GENERAL INSURANCE
AyurVAID offers cashless facility under insurance
The Kochi-based AyurVAID Hospital, which provides standards-based ayurveda medical services through accuracy in diagnosis, concurrent risk and safety management etc, has been approved by leading medical insurance companies and insurance Third ...
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RBI & OTHER CENTRAL BANKS
`Banks, FIs must explain loan refusals'
For refusing loan, credit card applications
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PUBLIC SECTOR BANKS
UCO Bank bets on retail sales force
UCO Bank is aiming to achieve business volume of Rs 1,000 crore by the end of the month (and the financial year) through its retail sales force from the current level of Rs 800 crore, according to Mr S.K. Das, the General Manager. Mr Das, who ...
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FINANCIAL INSTITUTIONS
State plans infrastructure finance corpn for tourism
Special cell to be formed to woo investors
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Funds disposal at SIDBI `swift'
`Swift In Disposal Beyond Imagination' is the new avatar of the Small Industries Development Bank of India (SIDBI) and funds up to Rs 50 lakh are disposed within a week's time by the administration without recourse to an early legal processing. ...
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GOVT BONDS
Bond prices steady
Bond prices were almost unchanged as uncertainty over the new Market Stabilisation Scheme (MSS) continued. Total traded volumes on the order-matching system were low at Rs 555 crore. The yield of the auctioned 6.65 per ...
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SHORT TERM INSTRUMENTS
Call rates steady
In the first one-day reverse repo auction, the RBI received 25 bids for Rs 15,400 crore, but accepted only 25 bids for Rs 2,000 crore (against the limit of Rs 2,000 crore). In the second one-day reverse repo auction, it received 17 bids for Rs ...
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FIXED DEPOSITS
RBI seeks to limit inter-bank lendings
Warns against high concentration of wholesale deposits
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EVENTS
Chidambaram to address RBI board on Friday
The Finance Minister, Mr P. Chidambaram, will address the Central Board of Directors of the Reserve Bank of India here on Friday. Sources described this as a customary post-budget meeting. Besides the state of the economy and its growth ...
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