MONEY & BANKING
FARM CREDIT
Chidambaram to review farm loans
THE Finance Minister, Mr P. Chidambaram, has decided to review the 2004-05 agricultural lending programme of public sector banks in a meeting to be held at Delhi on September 9. The meeting has been called in the wake of the policy package ...
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REGIONAL RURAL BANKS
Nabard funds for two RRBs in Kerala
THIRUVANANTHAPURAM: The National Bank for Agriculture and Rural Development (Nabard) has sanctioned short-term reference assistance of Rs 351.37 crore for 2004-05 to the two regional rural banks (RRBs) operating in the State. ...
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FOREX
Rupee up 4 paise; bonds stay firm
MUMBAI: The domestic currency gained about four paise on Tuesday to end at 46.35/36 against the dollar on back of supply of dollars from nationalised banks, perhaps at the behest of RBI, dealers said. Opening weaker, the currency slid ...
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CONSUMER FINANCE
Andhra Bank ties up with TVS Motor
ANDHRA BANK has entered into an alliance with TVS Motor Company, the Rs 3,000-crore automobile major, for providing easy finance to two-wheeler customers across Andhra Pradesh. Announcing this on Tuesday, the Andhra Bank Chairman and Managing ...
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CREDIT RATING
ICRA downgrades Samtel NCD programme rating
ICRA has downgraded the rating assigned to the Rs 25-crore long term NCD programme of Samtel Colour Ltd from LBBB-Plus to LBBB. According to an ICRA press release, the revised rating indicates moderate safety. "However, the relative degree of ...
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RBI & OTHER CENTRAL BANKS
Repo rate: RBI signals no change
It has risen dramatically from below 5 per cent to over 7.5 per cent in just the space of a few months and reversed the equally dramatic fall in interest rates, which had occurred in the last five years. Are the good times coming to an end? ...
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`Price stability with growth is RBI's aim'
THE Reserve Bank of India has successfully brought down inflationary expectations in the domestic financial markets as evidenced by the strong reactions to the recent spike in inflation, according to Dr Rakesh Mohan, RBI Deputy Governor. "As ...
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PRIVATE BANKS
GTB turnaround in 12-18 months: Narang
ORIENTAL Bank of Commerce (OBC) has decided to appoint a global consultant in the next couple of weeks to suggest measures for an effective amalgamation with Global Trust Bank (GTB). The Chairman and Managing Director of OBC, Mr B.D. Narang, ...
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Kotak Mahindra plans 75 more branches
KOTAK Mahindra Bank is all set to expand its operations across the country and has firmed up plans to set up 75 branches in the next three years. The bank, set up in mid-2003, will leverage its expertise in the range of financial services to ...
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No trading in GTB scrips from Aug 27
AFTER more than three weeks of announcement of merger of the troubled-Global Trust Bank (GTB) with the public sector Oriental Bank of Commerce (OBC), trading in GTB scrip will be suspended from August 27. Record date in GTB scrip has been ...
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PUBLIC SECTOR BANKS
Correction
GOVT BONDS
Rs 5,000-cr, 1-year bond auction today
UNDER the market stabilisation scheme (MSS), the Union Government has announced sale (re-issue) of Rs 5,000 crore worth 6.18 per cent 2005 paper to be conducted on August 18. The issue will be conducted through a price-based auction using a ...
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MERGERS & ACQUISITIONS
Canara to buy out Gilt Securities — Corporation Bank, BoB `agree to book value pricing'
AFTER protracted negotiations, Canara Bank has finalised the buy-out of the stakes of both Corporation Bank and Bank of Baroda in the primary dealership, Gilt Securities Trading Corporation Ltd, at book value. GSTCL is a three-way joint ...
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CO-OPERATIVES
Chidambaram to hold meet on RBI directive to UCBs
THE Finance Minister, Mr P. Chidambaram, has promised to convene a high-level meeting in New Delhi "within a week's time" to assess the situation arising out of the Reserve Bank of India revising the NPA norms for urban co-operative banks (UCBs). ...
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Award for South Canara District Central Co-op bank
MANGALORE: The Karnataka State Cooperative Apex Bank has selected the South Canara District Central Cooperative (SCDCC) Bank Ltd for its `Best District Central Cooperative Bank Award' for 2002-03. A press released by the Managing ...
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NEW PRODUCTS & SERVICES
Mobile currency counter
HYDERABAD: Anand's Banking Automation, a marketing agency, has introduced a new `Mobile currency counter', in two different versions. The first version, which is a battery-operated gadget, can accurately and quickly count currency ...
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Cross Currency Rates
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