MONEY & BANKING
FINANCIAL SERVICES
Package for cos investing overseas
THE Export-Import Bank of India (Exim Bank), Export Credit Guarantee Corporation of India Ltd (ECGC) and the World Bank's Multilateral Investment Guarantee Agency (MIGA) have formed a partnership for providing Indian companies investing overseas, ...
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PENSION PLANS
Love's the theme for SBI Life's direct marketing activities
"We want people to feel financially independent with our lifelong pensions, so much so that they could still afford to gift their loved ones."
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FOREX
Rupee firms up; bonds erase losses
MUMBAI: The domestic currency held its ground at a five-month high on Wednesday assisted by export-related dollar sales and foreign investment inflows. The rupee closed at 45.04/06 against the dollar, marginally up from the previous close ...
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GENERAL INSURANCE
Govt nod for export insurance account
THE Government has given its in-principle approval to the setting up a national export insurance account, according to Mr P.K.Dash, Chairman-cum-Managing Director, Export Credit and Guarantee Corporation (ECGC). Mr Dash told newspersons at the ...
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INTEREST RATES
Banks should not lend below PLR: Kapur
"IT is a dirty cut throat rate war that banks are indulging in, to survive and grow in a competitive environment," Chairman and Managing Director of Vijaya Bank, Mr M.S. Kapur, said. Speaking to Business Line, Mr Kapur lamented that in ...
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NON-PERFORMING ASSETS
NPA provisioning: PSBs want IT waiver to be extended
Bankers said that they needed the exemptions for making provisions on some of the NPIs, which include state government guaranteed securities.
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CREDIT CARDS & DEBIT CARDS
Indian Bank ties up with Mastercard
INDIAN Bank is examining the options of getting into merchant establishment acquisition business. This means that the bank will have its swipe-machines installed at various establishments — shops, hotels, hospitals — and will get ...
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SECURITISATION
Ordinance to amend Securitisation Act issued — 50 pc upfront payment for DRAT appeals
It has provided for taking over of management of the business of the defaulting borrower by a lender under Section 13(4). This was omitted in the original Act.
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FIXED DEPOSITS
Federal Bank hikes deposit rates
THE Aluva-based Federal Bank has increased the interest rates on fixed deposits. Now the deposits for three years and above will attract an interest rate of 6.25 per cent, a press release issued here said. The minimum period for fixed ...
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Cross Currency Rates
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