MONEY & BANKING
FOREX
Rising rupee impacting bench size at IT cos
Recruiters see slowdown in lateral hiring
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Rupee gains 4 paise
The rupee strengthened by about four paise on Thursday on modest gain in domestic stock markets. “There have not been any major FII pull out and they continue to be bullish,” said a dealer with a private bank. The home currency opened ...
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INFORMATION TECHNOLOGY
Centralised storage of fingerprints proposed
Mumbai, Aug 2 An expert committee on standards for raw images of fingerprints, appointed by the Reserve Bank of India, has recommended centralised storage of raw images of fingerprints in a specified format so that they can easily be retrieved ...
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FINANCIAL PERFORMANCE
PNB Housing net up 57%
PNB Housing Finance Ltd, a wholly owned subsidiary of Punjab National Bank (PNB), has registered a 56.92 per cent increase in net profit for the first quarter ended June 30, 2007 at Rs 8.16 crore against Rs 5.2 crore recorded in the same period ...
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GENERAL INSURANCE
Technical glitches hit motor third party data transfer
Insurers have so far uploaded only 50% documents on to the pool
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PUBLIC SECTOR BANKS
SBT plans 2 new branches in AP
Visakhapatnam, Aug. 2 State Bank of Travancore (SBT) is planning to set up two more branches in Andhra Pradesh in addition to the existing six, one here and the other in Hyderabad, according to Mr N. Raghavendra, Deputy General Manager, ...
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‘Parivartan’ programme under way at SBI
Chennai/Madurai, Aug. 2 Customers of State Bank of India can expect to have a positive experience when they visit branches. They can be sure that they’ll be welcomed courteously, greeted with a smile, attended to promptly and their ...
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GOVT BONDS
Bond prices up on enough liquidity
Bond prices rose about 20 paise and the yields fell by three basis points on Thursday due to comfortable liquidity in the system. The total traded volumes on the order matching system were Rs 3,415 crore (Rs 3,660 crore). The yield on the 10-year ...
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CRR & BANK RATES
‘Relief on reverse repo could prove costly’
Coimbatore, Aug. 2 While the review of the annual monetary policy has been on expected lines, the outcome could prove a ‘little costly’ for the banks, Mr M. Venugopalan, Chairman and CEO of Federal Bank, said.He was ...
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CORPORATE BONDS
Vijaya Bank plans raising Rs 300-cr capital
New Delhi, Aug. 2 Vijaya Bank plans to raise another Rs 300 crore of capital before December or next January to fund business growth, its Chairman and Managing Director, Mr Prakash P. Mallya, has said. “I have not decided on whether it ...
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RESTRUCTURING
Holding co formation: SBI ‘putting everything in place’
Move assumes significance due to legal issues faced by ICICI
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CREDIT MARKET
Nucleus Software solution for FamilyCredit
Coimbatore, Aug. 2 Consumer finance organisation FamilyCredit, part of Societe Generale Consumer Finance, has signed an agreement with Nucleus Software for revamping its lending process. Nucleus has agreed to implement its retail lending suite ...
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SHORT TERM INSTRUMENTS
Call rates remain firm
The inter-bank call rates closed at 0.1-0.3 per cent on Thursday. The Reserve Bank of India received bids worth Rs 1,23,070 crore through the reverse repo window under the two sessions of Liquidity Adjustment Facility while it accepted Rs 2,997 ...
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CREDIT CARDS & DEBIT CARDS
ATM sharing facility for Vijaya Bank debit card holders
Bangalore, Aug. 2 Debit card account holders of Vijaya Bank can now enjoy the convenience of using ATMs (Automated Teller Machines) operated by other banks in addition to Vijaya Bank’s own machines. They can access from Friday 13,200 ...
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FIXED DEPOSITS
SBH cuts NRE term deposit rates
State Bank of Hyderabad has reduced the interest rates on Non-Resident External (NRE) term deposits with effect from August 1. The interest on deposits for one year to less than two years is 5.25 per cent (5.43 per cent), two to three years ...
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PEOPLE
Bimbhet is Royal Sundaram MD
Royal Sundaram Alliance Insurance Company today announced that Mr Ajay Bimbhet would be joining as its Managing Director. The necessary approval from IRDA has been received. The move follows the current Managing Director Mr Antony Jacob’s ...
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