MONEY & BANKING
FOREX
Rupee ends close to year's high
The rupee ended on Friday close to a year's high on strong FII inflows. The currency opened at 44.10/11 against the dollar, touched an intra-day low of 44.15 and intra-day high of 44.08, before finally ending at 44.11/12, against the previous ...
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Forex reserves rise $924 m
Forex reserves have risen $ 924 million to $ 179.052 billion, for the week ended January 26, on a growth in foreign currency assets. Last week, forex reserves increased by $ 702 million to $ 178.128 billion. Foreign currency assets expressed ...
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FINANCIAL PERFORMANCE
Indiabulls Fin Q3 net up 143%
Indiabulls Financial Services Ltd has recorded a 143 per cent increase in its net profit at Rs 36.3 crore for the quarter ended December 2006 compared with Rs 14.93 crore posted during the corresponding quarter of the previous ...
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HOUSING FINANCE
Sundaram Finance buys out stake in Home Finance
Sundaram Finance has bought out the 25 per cent stake held by multilateral lending agencies, FMO of Netherlands and IFC, Washington, in Sundaram Home Finance Ltd for a consideration of Rs 48.52 crore, the company informed the stock exchanges on ...
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LIFE INSURANCE
Bangalore not so `pink' on Tata AIG's radar
HEALTH QUOTIENT
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PUBLIC SECTOR BANKS
UCO Bank to open office in China
UCO Bank is planning to start its representative office in Guang Zhou province of China by the end of February, according to Mr S.A. Bhat, Executive Director of the bank, who was here to inaugurate the bank's 41st branch in Andhra Pradesh on ...
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Bank of Maharashtra to expand in AP
Bank of Maharashtra plans to expand its branch network in Andhra Pradesh and increase business with focus on infrastructure, retail and SME segments, according to its Executive Director, Mr Rajiv Madhok. The bank plans to open four branches in ...
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INTEREST RATES
Indian Bank raises PLR, home loan rates
Indian Bank has increased its benchmark prime lending rate (PLR) by 50 basis points to 12.5 per cent from February 1, its Chairman and Managing Director, Dr K.C. Chakrabarty, said. He also said the bank had increased deposit rates by 25-50 ...
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GOVT BONDS
Bond prices gain over 20 paise
Bond prices jumped by over 20 paise on the back of key rates (other than the repo rate) staying untouched in the quarterly review of the Credit Policy. Total traded volumes on the order matching system were Rs 3,570 crore (Rs ...
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SHORT TERM INSTRUMENTS
Call rates up
The inter-bank call rates closed at 7.80-7.90 per cent (7.70-7.80 per cent) on Friday. In the first three-day reverse repo auction under LAF, the RBI received one bid for Rs 300 crore and 12 bids for Rs 6,665 crore were accepted ...
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FIXED DEPOSITS
NRE, FCNR deposit rates cut
Lakshmi Vilas Bank has effected a downward revision in its NRE, FCNR (B) and RFC deposit rates from February 1.NRE term deposits with tenure of one to two years would now fetch 5.93 per cent (6.33 per cent) as interest while the ...
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TRADE & LABOUR UNIONS
Central Bank union calls for strike
The United Forum of Central Bank Unions (UFCBU) has given a call to its members to go on an indefinite strike from February 22. About 40,000 employees and officers of Central Bank of India (belonging to the eight unions under the ...
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EVENTS
`Social banking critical to take credit to the poor'
Grameen Bank founder details experiments with financial inclusion
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VENTURE CAPITAL
IL&FS Investment plans private equity fund of $1 b
IL&FS Investment Managers Ltd (IIML), the private equity investment management arm IL&FS, has proposed to set up a private equity fund of up to $1 billion to invest in infrastructure assets in West Asia and North African regions. The fund wi
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