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HDFC
slashes home loan rates by 25 Bps
Mumbai: Home-buyers can continue to party. The
Housing Development and Finance Corporation on Tuesday
effected a 25 basis points cut in its retail prime lending
rate to 10.25 per cent from 10.50 per cent.
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Purwar
to focus on cost cuts, retail, tech upgradation at SBI
Mumbai: Newly appointed chairman of the Rs 3,80,000
crore State Bank of India, AK Purwar, will accord top
priority to cost reduction, innovation on the retail side
and technology upgradation to steer the bank through the
current fierce competitive atmosphere.
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Canara
Bank hopes to keep higher other incomes
Mumbai: Canara Bank expects to maintain other incomes
at higher levels with deepening of the government securities
market and continued bias towards softer interest rates.
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NCR
to set up ATM production unit in India
Bangalore: NCR has decided to invest $ six million
in India to set up an ATM manufacturing unit in Bangalore
which will have a production capacity of 8,000-10,000
ATMs per annum and is slated to be operational by September
2003.
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Birla
Home Fin may get $20 million credit line from IFC
Mumbai: International Finance Corporation, Washington
is likely to extend $ 20 million credit line loan to Birla
Home Finance Ltd, part of the Rs 4,500 crore KK Birla
Group.
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Bharat
Overseas to link branches
Chennai: Bharat Overseas Bank Ltd has signed an
agreement with HCL Comnet Ltd for networking its branches
across the country. The bank has also signed an agreement
with Reliance Communication Infrastructure Ltd for using
the latter's data centre facility in Bangalore.
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Birla
Home Fin to expand in TN
Chennai: Birla Home Finance Ltd, a 50:50 joint
venture between the K.K. Birla group and BHW Holding AG
of Germany, plans to expand its presence in Tamil Nadu.
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LIC
scheme for IOB depositors
Mumbai: Indina Overseas Bank, in association with
the Life Insurance Corporation of India,yesterday launched
a group insurance scheme for its deposit holders. The
scheme, named IOB Chiranjeevi Bima Yojana, will cover
any individual between 18 and 44-1/2 years and Rs 575
for 45 to 54-1/2 years.
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New
York Life keen to hike stake in Indian venture
Mumbai: New York Life Insurance Company, touted
to be the largest seller of life insurance in the US,
today said that it would be interested in increasing its
percentage of ownership in the joint-venture company,
Max New York Life (MNYL) Insurance Company Ltd.
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SBI
Life in marketing talks with banks
Mumbai: SBI Life has begun tying up with public,
private sector and cooperative banks for providing life
insurance to account holders and for distribution of life
insurance products.
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SBM
offers life insurance to customers
Bangalore: The State Bank of Mysore has rolled
out Group Life Insurance schemes for its customers. The
group insurance scheme `Super Surakha' is to provide life
insurance cover for accountholders, farmers and housing
loan borrowers.
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Union
Bank lines up festival incentives
Kochi: Union Bank of India has launched an aggressive
push to its retail loan products in Kerala and is offering
an array of incentives during the current festival season.
These incentives can be availed up to December 31, 2002.
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PNB,
Bank of India to share ATMs
New Delhi: Punjab National Bank and Bank of India
on Wednesday said that they would share their Automatic
Teller Machines (ATMs). Of the over 200 ATMs that PNB
has across the country, 110 are connected through ATM
switch.
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Vysya
Bank opens another ATM
Bangalore: Vysya Bank has opened its 13th ATM in
Bangalore at the Suprabha Complex, Sri Vasavi Temple Road,
Vishweshwarapuram. The bank plans to install 17 more ATMs
by March next.
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SBT
reduces lending rates
Kochi: State Bank of Travancore has reduced its
prime lending rate (PLR) with effect from November 1 in
line with the cut in bank rate by RBI. The effective PLR
now is 11.75 per cent and the prime term lending rate
12.25 per cent.
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SBI
provides 10 pc for Dabhol exposure
Mumbai: State Bank of India has, in its balance
sheet for the first half of the current fiscal year, made
prudential provision of 10 per cent for its nearly Rs
1,000-crore exposure to the Dabhol Power Company .
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Canara
Bank in pact with SBI for bank in Moscow
Mumbai: The Bangalore-based Canara Bank has entered
into an agreement with State Bank of India for setting
up a joint venture bank - Commercial Bank of India - in
Moscow.
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Legislation
for AP urban co-op banks opposed
Hyderabad: The Andhra Pradesh Government's reported
move to bring in a separate legislation for the urban
co-operative banks in the State has been opposed by the
A.P. Urban and Town Co-operative Bank's Association.
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