MONEY & BANKING
FOREX
Rupee is stable in terms of real effective exchange rate: Chidambaram
The Finance Minister, Mr P. Chidambaram, on Wednesday maintained that the rupee was stable in terms of the real effective exchange rate (REER) even while hinting that the currency may appreciate depending on market conditions. "What is important ...
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Rupee touches 47-mark
The rupee touched a three-year low on account of strong demand for dollar from several domestic petroleum companies. The domestic currency opened at 46.75 and touched an intra-day low of 47.04. It finally closed at 46.99/47. On ...
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INFORMATION TECHNOLOGY
Chamber plea on RTGS
Trade and industry here have sought the RBI's attention to issues such as popularisation of Real Time Gross Settlement Scheme (RTGS), disclosure of more details in bank statements, introduction of high value clearing system, revival of the Gold ...
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FINANCIAL PERFORMANCE
IDBI net up 39 pc on increase in revenues
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GENERAL INSURANCE
Private non-life cos ceding to global reinsurers
Retentions remain low despite increase in market share
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DERIVATIVES MARKETS
High levels of derivative exposure
How do the derivative exposures of our banks measure against their net worth? The exposures range between 9 and 120 times of net worth. At the very top is ABN AMRO Bank. With a total liability of Rs 1,62,334 crore towards outstanding forward ...
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PRIVATE BANKS
TMB launches credit scheme for SMEs
Tamilnad Mercantile Bank Ltd (TMB) has introduced a new loan product called SME Credit to cater to the exclusive needs of the SME sector. Under this scheme, an individual can get a maximum loan of Rs 2 crore and group borrowers up to Rs 10 ...
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FOREIGN BANKS
HSBC joins CASHNET
HSBC has joined CASHNET, a shared ATM network, taking the total number of ATMs in the network to over 6,040. CASHNET is owned and run by Euronet Services India. HSBC's 169 ATMs are now part of the CASHNET network, said a press ...
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GOVT BONDS
Bonds up on possible auction delay
Bond prices inched up by around 15 paise on rumours of a possible postponement of the Rs 5,000-crore Government securities auction scheduled between July 17 and 25. Dealers said that they expected the auction to be held after the ...
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SHORT TERM INSTRUMENTS
Call rates unchanged
Call rates remained unchanged between 5.75 and 5.85 per cent. In the first one-day reverse repo auction under LAF, Reserve Bank of India received and accepted 24 bids amounting to Rs 28,875 crore and in the second one-day reverse ...
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CREDIT CARDS & DEBIT CARDS
StanChart's new credit card offers 5% cash-back
Standard Chartered Bank has launched the `Standard Chartered Super Value Titanium Master Card' , which offers cash-back at the rate of 5 per cent on all payments made at petrol pumps and as telephone bills. Cash-back of one per cent will be ...
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ALLIANCES & JOINT VENTURES
YES Bank, Reuters tie-up
YES Bank has signed an agreement with Reuters Trading for Foreign Exchange (RTFX) to automate the bank's foreign exchange transactions in a real time environment and enable the bank to use the distribution network of RTFX to ...
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PEOPLE
Nageshwara Rao to head IDBI's insurance venture
Bank's other plans include subsidiary for private equity
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