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BoI
to enter China
New Delhi: China has granted licence to Bank of
India to open a representative office in the booming Shenzhen
city in the South.
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PNB
waiting for RBI go-ahead for Nedungadi takeover
New Delhi: Punjab National Bank is awaiting the
Reserve Bank nod for taking over the troubled Nedungadi
Bank on a no-profit no-loss basis while reworking its
plans to foray into the insurance sector in this this
fiscal.
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RBI
shows the way to US Federal reserve
Mumbai: The US clearly seems to have taken inspiration
from India in matters of monetary policy. On October 29,
the Reserve Bank of India pleasantly surprised the markets
by not just cutting the bank rate, but also the repos
rate and the cash reserve ratio simultaneously.
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Kerala
Govt okays security scheme for NRKs
Kochi: LIC has evolved six different schemes for
the periodical payments taking into account the convenience
and needs of the member customers.
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Banks
hint at provisioning for IFCI borrowings
New Delhi: Public sector banks have (PSBs) have
indicated they would start making full provisions for
support to IFCI. These provisions, banking sources said,
would apply to outstanding borrowings made through flotation
of bond issues by the IFCI as well other financial institutions.
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SBM
seeks RBI nod to reveal defaulters
Coimbatore: Equipped with powers under Section
13 of the Ordinance (Securitisation and Reconstruction
of Financial Assets and Enforcement of Security Interest
2002), the bank has issued 150 notices this far to the
wilful defaulters.
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KSCB
unveils Rs 250-cr scheme for rural tourism
Kochi: Kerala State Cooperative Bank (KSCB), the
apex co-operative bank in the State, has announced a Rs
250-crore scheme for developing tourist infrastructure
in rural areas with the budget tourist in mind
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