MONEY & BANKING
INSIGHT
The reform paradox
CONFUSION continues to reign on whether or not we should use our large forex reserves for infrastructure projects. The pro-investment case is simple. Infrastructure development and improvement is the need of the hour (Morgan Stanley's Chief ...
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FOREX
Surging rupee likely to erode corpus of NRI deposits
THE sharp surge in the value of the rupee against the dollar in the last one-month is likely to lead to further erosion in the corpus of NRI deposits in the country, several bankers have said. "The appreciating value of the rupee is neither ...
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Rupee declines; securities weak
MUMBAI: In a volatile foreign exchange market, the rupee halted its rise to close lower at 43.71/73 against the dollar on Tuesday, nearly eight paise below its previous close at 43.6350/6450. Foreign banks were actively purchasing ...
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SOFTWARE
Laser Soft tool for Corpn Bank
CHENNAI: Laser Soft Infosystems Ltd, a Chennai-based banking software products company, has completed implementation of its Panacea Core Banking system in over 350 branches of Corporation Bank. The system covers all areas of banking, ...
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NBFCS
NBFC stocks in limelight
AFTER banking sector stocks, non-banking finance companies' (NBFCs) stocks have now attracted the attention of stock market players. Analysts say stocks in this sector have not performed in the current rally, even as the business has grown ...
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CONSUMER FINANCE
SBI to finance Tata vehicles
TATA Motors on Tuesday signed an MoU with State Bank of India (SBI) making the latter its `preferred financier' for financing commercial vehicle sales. "As a preferred financier, SBI will work together with Tata Motors to promote and make ...
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Maruti finds new customer base in SBI tie-up
MARUTI Udyog Ltd's (MUL) tie-up with State Bank of India for car financing has been paying rich dividends, according to the company's Managing Director, Mr Jagdish Khattar. The bank's huge network of branches and customer portfolio spanning ...
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PUBLIC SECTOR BANKS
Corpn Bank plans more rural branches
CORPORATION Bank is planning to open more branches in `potential' rural areas in the near future to increase its agriculture credit portfolio. The bank had 165 (23 per cent) branches in rural areas, 156 (22 per cent) in semi-urban areas, ...
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Dena Bank forms cell to check credit quality
DENA Bank has set up a `credit monitoring cell' and a `slippages prevention task force' to ensure the quality of assets being created, and to arrest the slippages in non-performing assets. The bank is re-strategising its business focus and ...
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United Bank to relocate branches in Kolkata
UNITED Bank of India (UBI) has proposed to re-work its branch network here by shifting some branches and opening a few others. The bank has decided to move six of its Kolkata metropolitan branches from their present premises to new and nearby ...
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Andhra Bank mega loan mela
VISAKHAPATNAM: Andhra Bank is conducting a two-day mega loan mela at Kursura submarine museum on the Ramakrishna beach here on December 11 and 12, according to a press release issued by the bank. The Executive Director, Mr R. ...
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SECURITISATION
Securitisation Act amendment Bill passed by Lok Sabha
IN yet another step to bolster the debt recovery efforts of lenders, the Lok Sabha today passed the Enforcement of Security Interest and Recovery of Debts Laws (Amendment) Bill. The Bill proposes to amend the Securitisation Act by reducing the ...
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BOOKS
Book released
MANGALORE: The Executive Director of Corporation Bank, Mr P.K. Gupta, released `Karyashala Samagri', a book compiled and published by the bank to commemorate 40th meeting of the official language committee on South Based Public Sector ...
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Cross Currency Rates
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