MONEY & BANKING
FINANCIAL SERVICES
Allegro plans 15 financial supermarkets in Kerala
Allegro, which offers investment advisory services, will inaugurate 15 financial supermarkets in Kerala by July 1. The outreach of these supermarkets would be extended with the appointment of 15 franchisees and 200 associates who would work as ...
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Jones Lang LaSalle entering India in Q3
Jones Lang LaSalle Hotels is all set to enter the Indian market to offer its hotel investment services, in a 50:50 joint venture with the real estate services and money management firm Jones Lang LaSalle Meghraj. Jones Lang LaSalle Hotels ...
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StanChart launches private banking services
Focus on high networth individuals with $1-m investible wealth
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FOREX
Strong Re: EEPC sees negative impact on exports
`If the rupee goes below 40-level, exporters will not get into new contracts'
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Forex reserves rise $1.17 b
The country's foreign exchange reserve rose $1.174 billion to touch $209.547 billion in the week ended June 8 mainly due to the intervention of RBI in the forex market. The reserves had surged by $3.439 billion in the week ended June 1. They ...
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Rupee gains on sustained inflows
The rupee strengthened by about 4 paise against the greenback backed by sustained inflows into the domestic market, said a dealer with a private bank. The domestic currency closed at 40.87 on Friday, up from the previous close of ...
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`Rising rupee spells doom for jobs in textile export sector'
Could result in loss of 5.79 lakh potential new jobs
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STOCKS
SBI stake transfer Ordinance
The Union Cabinet on Friday approved the promulgation of an Ordinance to enable the transfer of Reserve Bank of India's entire shareholding in the State Bank of India to the Central Government. Informed sources said that the ...
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NBFCS
Foreign bank buying Exim Bank, IFC stake in Global Trade Fin
GTF shareholding pattern undergoing change for second time
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GENERAL INSURANCE
Study soon on creating natural catastrophe risk insurance pool
To tide over unpredictable weather, natural calamities
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FINANCIAL POLICY
We must learn to manage large capital flows: Chidambaram
The Union Finance Minister, Mr P. Chidambaram, said on Friday that the country must learn to manage large capital account flows. "We aspire to be a developed economy... We must learn to manage a fully convertible or nearly fully convertible ...
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FINANCIAL MARKETS
Direct forex trading: YES Bank joins the band
No additional cost to customers
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PUBLIC SECTOR BANKS
New Corporation Bank branches
Corporation Bank is setting up three more branches in the Vijayawada zone comprising all the coastal districts and is planning 10 more during the current financial year, according to Mr M. Narayana Bhat, Assistant General Manager. Besides, the ...
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GOVT BONDS
Bonds rise on easy liquidity
The bond prices went up by 30 paise and yield for the 10-year-paper fell by about six basis points backed by "easy liquidity and better than expected cut-off from the auctions," said a dealer with a private bank. The total traded ...
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SHORT TERM INSTRUMENTS
Call rates unchanged
Call rates remained unchanged from previous close of 3 per cent to 3.25 per cent. There were no repo bids in the first and second liquidity adjustment facility. In the first three-day reverse repo auction, the RBI received 29 ...
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FIXED DEPOSITS
Fixed maturity plans' yields on the decline
Bank fixed deposits gaining ground
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Targets set for WB State coop bank
The performance of West Bengal State Cooperative Bank and 17 District Central Cooperative Banks was reviewed and targets for 2007-08 were set at a meeting held in Durgapur recently. The meeting was attended, among others, by the Chairmen, CEOs ...
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TRADE & LABOUR UNIONS
Gramin bank unions' strike call
The Joint Forum of Gramin Bank Unions has given the call for two-day strike to be observed on June 29 and 30 in all 96 regional rural banks (RRBs) in the country. The demands include proper and uniform manpower planning, ...
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OUTLOOK
Future Money plans 400 outlets by 2010
The Kishore Biyani-promoted Future Money, owned by Future Capital Holdings, is set to open 400 outlets by 2010-11 with an expected turnover of $1 billion. Besides, the company may also set up shop as a non-banking finance company, independent ...
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PEOPLE
Narayanasami on New India board
The Government has announced the appointment of Mr T.S. Narayanasami as ex-officio director on the board of New India Assurance Company Ltd with immediate effect. His appointment will be up to May 31, 2009 or until further ...
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NEW PRODUCTS & SERVICES
ING Vysya new offering for high-income group staff
ING Vysya Bank on Friday launched a new product targeting the high-income group employees called `Orange Salary Account'. Addressing a press conference here, Mr Vaughn Nigel Richtor, Managing Director, ING Vysya Bank, said, "The product is ...
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