MONEY & BANKING
FINANCIAL SERVICES
Indiapost — transforming into a `financial mart'
A GROUP of employees of the Indian postal service is a rather unlikely set to be training for the Association of Mutual Funds of India's certification test for distribution of mutual funds. SBI Mutual Fund officers in Tamil Nadu, training ...
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INSIGHT
Banking reforms may slow down
CONSOLIDATION within the banking sector is likely to face a setback with the change of guard at the Centre. The proposed amendments to the Banking Regulation Act included relaxation in the voting rights beyond 10 per cent. Though equity ...
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FOREX
Rupee sheds 38 paise to $
IN tandem with the tailspin in the equity markets on Friday, the domestic currency lost 38 paise in its value against the greenback, closing at 45.60/63 as compared to its previous close at 45.23/25 on Thursday. Currency experts ascribed the ...
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Remittances fuel consumption spree in Kerala
KERALA had all along been a huge consumer durables and perishables market for the country as a whole. But the per capita income of an average Keralite did not warrant such a high level of expenditure. But, a recent study by the Centre for ...
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STOCKS
FIIs dump PSU, banking stocks
According to market chatter, they were net sellers of around $250 million-$300 million (around Rs 1,100 crore-Rs 1,300 crore) of equity. This is almost double Thursday's figure of $137 million (Rs 604 crore). Brokers said FIIs sold across the ...
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FINANCIAL PERFORMANCE
ING Vysya plans for asset recast venture with ACTIS — Net profit drops to Rs 59 crore
ING Vysya Bank has proposed setting up a joint venture asset reconstruction company along with ACTIS (formerly Commonwealth Development Corporation, UK). Speaking to Business Line, Mr Bart Hellemans, Managing Director and Chief Executive ...
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HOUSING FINANCE
Birla Home Finance cuts rates
DEBT MARKET
Bond prices tumble in jittery market
MUMBAI: Apprehensions over an early US Fed rate hike, coupled with domestic political uncertainties, drove bond prices down by up to 65 paise across some maturities in a jittery Government securities market on Friday. The 8.07 per cent ...
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PUBLIC SECTOR BANKS
BoI thrust on home loans in coastal AP
CREDIT CARDS & DEBIT CARDS
StanChart, Rotary launch `community growth' card
IN a product designed to promote assistance to community development in India, Standard Chartered Bank and the MasterCard Credit Card have joined hands with the Rotary International to launch a co-branded gold credit card. Announcing this here ...
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TRADE & LABOUR UNIONS
Bank staff reject IBA offer
WHILE the bank officers' union state that an agreement on salary revision is round the corner and would be signed by mid-June, the employees' union disagree with their contention. "We have discussed and sorted out only minor issues. The ...
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IFCI staff hope to stall merger with PNB
THE victory of the Congress-led alliance has kindled fresh hope among IFCI employees of blocking the ongoing process of merger of the institution with Punjab National Bank (PNB). The employees have been lobbying hard for stalling the merger. ...
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OUTLOOK
No setback to reforms process: M.B.N. Rao
THE reforms in the banking, or financial, sector are likely to proceed as usual in spite of the change of Government at the Centre and the banking circles do not have any reservations over the policies of the Congress or the Left parties on this ...
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Cross Currency Rates
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