Finmin promises to shoulder UTIs liabilities
New Delhi: Cash-strapped UTI has received a blank cheque from the finance ministry. At a meeting here on Monday, between the chief of the beleaguered mutual fund chief M Damodaran and Finance Secretary S Narayan, UTI was promised all the money required to meet its liabilities. 
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Allahabad Bank plans Rs 100-cr IPO in December
Kolkata: Allahabad Bank is planning to tap the capital markets by coming out with an initial public offering (IPO) of Rs 100 crore by December this year. 
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Companies take refuge in MFs
With traditional modes of investments such as US-64 and bank deposits no longer paying off, even corporates are faced with fewer investment options than before. 
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Moser Baer plans insurance foray with Vijaya Bank, PNB
New Delhi: Optical and magnetic storage maker Moser Baer India Ltd is likely to partner state-owned Vijaya Bank and Punjab National Bank (PNB) in their proposed joint venture in life and general insurance with Zurich, banking sources said. 
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SBI slashes housing rates
Mumbai: Housing loans are now moving into single-digit figures. And this is an Independence Day gift from the country's largest bank - State Bank of India. Effective August 16, SBI will cut its housing loans by 50 basis points across the board - 
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Aviva to expand operations in eastern States
Mumbai: In the next two months, Aviva Life Insurance, the joint venture between Dabur and UK-based CGU, will complete its product portfolio by introducing term products, pension-linked insurance and group insurance schemes. T
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Can Jalan get the horse to drink?
Mumbai: On a day short (August14) of 55 years of India's Independence, the central board of RBI will be meeting at Mumbai to finalise the accounts for the year ended June 30, 2002. The RBI's profits are reckoned at Rs 10,300 crore.
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LVB star performers
Hyderabad: Lakshmi Bank (LVB), the Karur-based bank focussing on constantly training its human resources, has selected the star performers among the managers of its branches spread across the country for the year 2001-02. 
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SBI cards for FD holders
Coimbatore: SBI Cards and Payment Services Private Ltd, the credit card subsidiary of the State Bank of India, has recently introduced two new schemes - SBI Advantage Card to the bank's fixed deposit customers and SBI International Card for its home loan borrowers. 
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10th Plan power capacity to fall short of target 
New Delhi: The government of Indias targets on capacity addition in the power sector during the Tenth Five-Year Plan period (2002-07) is unlikely to be met according to a report published by CRIS-INFAC, a subsidiary of The Crisil. 
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Crisil gives top ratings to KMFL Rs 115-crore PTCs 
Mumbai: Kotak Mahindra Finance Ltds Rs 114.85 crore senior series pass through certificates backed by commercial vehicles loan and hire-purchase receivables have been assigned the highest short- and long-term ratings by the Crisil. 
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OM Kotak Life plans to lower assured returns 
Mumbai: OM Kotak Mahindra Life Insurance Company proposes to lower the assured returns on its products next month. 
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NHB to issue 7.15% capital bonds today 
Mumbai: The National Housing Bank will be launching a 54 EC capital gains bonds issue on August 14, 2002. 
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