MONEY & BANKING
INSIGHT
Monetary Policy — Deriving new ways to finance infrastructure
To help banks fund infrastructure, the RBI's latest Monetary Policy has allowed them to transact in `single entity credit default swaps'. However, financial innovation can increase the complexity of risk management. The focus of the policy should, t hus, be on improving the quality of shock absorbers in the system, says PADMALATHA SURESH.
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FOREX
`Rising rupee has not hit remittances'
India likely to maintain its leading position this year too
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Western Union in pact with Spandana
Will cover semi-urban, rural areas in Karnataka and AP
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Re sheds 7 paise against dollar
Rupee weakened by around 7 paise against the greenback to close at 40.92/93 on Wednesday against the previous close of 40.85/86. The domestic currency opened at 40.93/95, saw an intra-day high of 40.87 and an intra-day low of ...
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INFORMATION TECHNOLOGY
3i, FINO tie up for rural services
3i Infotech said on Wednesday it has partnered with Financial Information Network & Operations Ltd (FINO) to roll out financial services predominantly in the country's rural areas using Common Service Centres (CSCs). The CSC scheme is part of ...
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INTERNET
IBA, MasterCard launch Web portal
Customers in need of financial advice can now talk to Mr Mani, the virtual financial wizard on the new Web portal (www. money4you.in) launched by Indian Banks' Association (IBA) in collaboration with MasterCard Worldwide and India Cards ...
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GENERAL INSURANCE
Free pricing: Non-life insurers see no major impact on growth
The non-life insurance market is expected to recover and settle down within a reasonable time, weathering the initial impact of de-tariffing, chiefs of public-sector insurance companies said here on Wednesday.The market in future will see an ...
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Oriental Insurance mulling IPO
Oriental Insurance Company Ltd, one of the four public sector non-life insurers, would like to unlock part of its value, courtesy an initial public offering. The company, which has grown substantially in the past few years and hopes to move ...
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PRIVATE BANKS
Centurion Bank in Vijayawada
Centurion Bank of Punjab has opened its first full-fledged branch in Vijayawada on Wednesday. "Vijayawada is witnessing an explosive growth. We are committed to reach each and every part of the city," Mr Shailendra Bhandari, ...
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GOVT BONDS
Bond prices up 15 paise
Bond prices rose by 15 paise and yields came down two basis points on easy money supplies. "There is an auction of Rs 10,000 crore on Friday which is likely to drain out excess cash from the system," said a dealer at a private ...
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CREDIT MARKET
SBI funds SHGs to assist urban poor
Access to raw material, large market an advantage
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SHORT TERM INSTRUMENTS
Call rates end lower
Call rates closed lower at 3.25 - 3.50 per cent on Wednesday against the previous close of 4.50 - 4.75 per cent. "There was easy liquidity in the system," said a dealer with a private bank. Dealers expect the inter-bank ...
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MERGERS & ACQUISITIONS
BNP arm buys 49.9% stake in Sundaram Home Finance
Union de Credit pour le Batiment SA (UCB) will pay Rs 196.98 crore for a 49.90 per cent stake in Sundaram Home Finance Ltd, a subsidiary of Sundaram Finance Ltd. UCB, a subsidiary of the Paris-headquartered international bank BNP Paribas SA, ...
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OVERSEAS INVESTMENTS
Overseas investments: Banks may soon offer niche products
Banks are now serving products and designing services for high net worth individuals, who can remit $1,00,000 in a financial year (from $50,000 earlier). But banks, particularly foreign, feel the need for clarity on the kind of products to be ...
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ALLIANCES & JOINT VENTURES
Citibank ties up with SKS Microfinance
The programme will deliver loans ranging from Rs 5,000 to Rs 20,000 in over 7,000 un-banked villages in the country where SKS is present through its 49 branches. For providing Rs 180-cr micro credit in rural areas
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EVENTS
`Tap resources with ingenuity'
Mr Anantakrishna, Chairman of Karnataka Bank Ltd, has urged the regional heads of the bank to tap resources with ingenuity and innovative means. A bank release said here that he was addressing the regional heads at the review ...
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