MONEY & BANKING
PENSION PLANS
Pension scheme for govt staff to be ready by May
New Delhi, Feb. 11 The Pension Fund Regulatory and Development Authority (PFRDA) expects the entire new pension scheme (NPS) architecture to be in place in respect of Government employees by end-May this year. Addressing a workshop on ...
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FOREX
Rupee slides tracking bourses
The rupee weakened by eight paise against the greenback on Monday tracking the weakness in the stock market. The home currency opened at 39.63/65 and saw an intra-day low of 39.74, before ending the day at 39.6950/70. Foreign exchange dealers ...
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NBFCS
Fullerton branches
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LIFE INSURANCE
Bharti AXA plans more branches in Kerala
Thiruvananthapuram, Feb. 11 Bharti AXA Life Insurance Company Ltd has announced the opening of its branch in Thiruvananthapuram. With this, the company has three branches in Kerala. By December 2008, the company plans to have 13 ...
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ICICI Pru in pact with Dubai co
ICICI Prudential Life has tied up with the Dubai-based UAE Exchange House. This tie-up will enable the non-resident Indian (NRI) customers of ICICI Prudential Life to access any of the 50 branches of UAE Exchange to make their first and renewal ...
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GENERAL INSURANCE
Universal Sompo General debuts with two plans
Chidambaram wants policies to be worded in simple language
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RBI & OTHER CENTRAL BANKS
US slowdown impact to be significant: IMF chief
‘India can maintain growth momentum’
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PUBLIC SECTOR BANKS
Chidambaram may discuss tax issues with PSB chiefs
New Delhi, Feb. 11 The Finance Minister, Mr P Chidambaram, is likely to discuss with the chief executives of public sector banks on Tuesday the slew of tax-related proposals suggested for budget 2008-09 by the Indian Banks’ Association ...
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INTEREST RATES
SBI cuts prime lending rate by 0.25 percentage points
‘No plan to drop deposit rates now’
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Bank of India cuts rates on home, retail loans
Chennai, Feb 11 Bank of India has cut home loan rates by a quarter percentage point. The bank has effected the reduction for home loans up to Rs 20 Lakhs with tenor above 5 years with effect from February 1. The new rates will be 9.75 per cent ...
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GOVT BONDS
Bond prices move higher
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CORPORATE BONDS
Allahabad Bank to raise Rs 300 cr
New Delhi, Feb. 11 Allahabad Bank, a public sector bank, plans to raise Rs 300 crore of perpetual bonds before end-March this year, its Chairman and Managing Director, Mr A.C.Mahajan, has said.“I am looking to raise about Rs 300 ...
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CREDIT MARKET
Indian Bank disburses Rs 15 cr in Sivagangai district
Appreciating the Indian Bank for moving to 10th place among the public sector banks and disbursing loans to the extent of Rs 15 crore under various schemes in Sivagangai district — particularly, a sum of Rs 5.42 lakh to 44 HIV/AIDS ...
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SHORT TERM INSTRUMENTS
Call rates close higher
The inter-bank call rates closed higher at 6.50-6.75 per cent on Monday, against the previous close of 6-6.10 per cent. In the first one-day reverse repo auction under Liquidity Adjustment Facility (LAF), the Reserve Bank of India received and ...
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FIXED DEPOSITS
No change in deposit rates till March: IOB
New Delhi, Feb. 11 Indian Overseas Bank (IOB) has no plans to reduce deposit rates till March this year, but may look to lower advance rates in certain segments to boost credit growth, its Chairman and Managing Director, Mr S.A. Bhatt, has ...
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CUSTOMER RELATIONSHIP MANAGEMENT
Customer is king for Indian Bank
Staff being sensitised to serve clients better
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