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Canbank
factors plans without recourse product
Bangalore:
The Bangalore-based Canbank Factors is planning to launch a without
recourse factoring product for the first time in India after tying
up with an insurance company for providing insurance cover against
such factoring products.
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Euro
strength seen delaying ECB interest rate rise
Mumbai:
The European Central Bank is likely to delay raising interest rates
until at least September because the surging euro currency will help
to curb price pressures.
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Bank
of China HK to slash bad loans
Hong Kong: The
Hong Kong arm of state giant Bank of China has said its high
non-performing loan problem, a major concern of potential investors,
has improved after it sold HK$11.4 billion in loans to its parent and
adopted tighter credit controls.
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Andhra
bank launches online ATM service
Hyderabad: In
a bid to extend convenience banking to its customers across the
country, Andhra Bank has launched its online ATM service on Wednesday.
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Exit
trigger facility for UTI unit-holders
Mumbai: Unit
Trust of India has introduced automatic trigger mechanism that enables
unit-holders to predetermine the time they would like to exit a
scheme. A release from UTI said due to volatility in the capital
markets.
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JM
Mutual to seek rating of liquid fund
Mumbai: JM
Mutual Fund intends to get its liquid fund rated. An assessment by a
rating agency will underline the schemes objective of maintaining a
certain credit quality, it is felt. The MF has proposed to approach
Crisil.
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Canbank
MF plans pure debt scheme
Mangalore: Canbank
Mutual Fund is planning to come out with an open-ended pure debt
scheme called CanIncome shortly. According to a press release issued
by Canbank Investment Management Services here, the new scheme is to
be an open-ended debt scheme.
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Banks,
FIs told to disclose big exposures
Mumbai: All
banks and financial institutions will have to disclose large
individual exposures and connected lendings in their balance sheets
from this year. The individual exposures relate to those above 10 per
cent of a banks capital fund, while connected lendings refer to the
groups exposure to management personnel, directors, and relatives.
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RBI
wants interest band spread cut
Mumbai: The
finance ministry and the RBI have finalised their overall approach to
interest rate in the immediate and medium term.
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